This guide has been put together as a joint project of the Greater Kalamazoo Association of REALTORS and The Kalamazoo Home Builders Association. The Veenstra Team is providing it to homeowners in the Greater Kalamazoo area so that you are equipped with the knowledge that empowers you as a homeowner. Please let us know if we can help you purchase or sell a home in the Greater Kalamazoo area. We will always provide you with the service, resources, information and marketing to make the choices that are best for you and your family.
It is likely that you have recently received notice of your 2010 property tax assessment. As you go through this guide you should be aware that you have the right to appeal your home valuation to your local board of review if you believe it is not accurate. Your board of review is a small independent panel made up of private citizens. This panel typically meets the second week of March (you should check with your local municipality in the Greater Kalamazoo area to make sure of the exact dates for your municipality) and has the ability to change your assessment if they believe it contains errors or is inaccurate. Despite the weak economy, some neighborhoods may see State Equalized Value (SEV) increases that exceed the rate of inflation. This is true because state law requires the SEV to reflect 50 percent of True Cash Value for your home. Fortunately, these increases do not necessarily affect your taxes. Instead, your property taxes are calculated using “Taxable Value,” and those increases are limited to 4.4 percent this year because of Proposal A. This is a step-by-step guide to help you review your assessment to ensure accuracy and educate you in the appeals process. You should be prepared to make your case to the board using about five minutes or less. Please feel free to contact us if we can provide you any further information.
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