ASSESSING DEPARTMENT
Lisa A. Hobart, Assessor

CONTACT INFORMATION:
248-451-4850
Monday - Friday 8:00 a.m. to 4:30 p.m.

Michigan Statute's require that all Real and Personal Property, subject to taxation, shall be assessed annually.

Assessments are estimated at 50% of the properties Market Value. However, property owners pay taxes based on the properties Taxable Value. Taxable Value is the lesser of Assessed Value (SEV) or the prior years taxable value minus losses, increased by the lesser of 5% of the Inflation Rate Multiplier, plus Additions. A transfer of ownership will change the taxable value to the assessed value in the year following the transfer of ownership.

Example:  100,000 Taxable Value
                35 Millage Rate (Dollars per Thousand)
                $3,500 Estimated Annual Tax Bill

Why does my Assessment change every year?
The Assessed Value of your property reflects an estimate of 50% of your property value. This estimate is based on sales of similar homes within the same or similar neighborhoods. Your Assessed Value changes to reflect the change in selling prices of similar homes. Additionally, property improvements may increase your Assessed Value.

What is Taxable Value?
Taxable Value is the amount on which a property owner pays property taxes. Taxable Value is the lesser of Assessed Value (SEV) or the prior years taxable value minus losses, increased by the lesser of 5% or the Inflation Rate Multiplier, plus Additions. A transfer of ownership will change the Taxable Value to the assessed value in the year succeeding the transfer of ownership.

Losses are the removal of property, such as removal of a garage. An Addition includes finishing a basement, building a deck, and other improvements.

How can my taxable value go up when my assessed value goes down?
Over the years the majority of property values in West Bloomfield Township have increased in value greater than the IRM. However, most neighborhoods are now experiencing a decline in the market value. The constitutional amendment known as Proposal A requires that the Taxable Value increase by the IRM, however it cannot exceed the Assessed Value.

Many property owners have little, if any, difference in the amount of their Assessed Values and Taxable Values. Assessed Value represents 50% of the estimated property value. Taxable Value is a mathematical formula which is based on the preceding years Taxable Value increased by the Inflation Rate Multiplier (IRM). The IRM is determined for the entire State and applied by each municipality. Taxable Value may also increase for physical additions and decrease for physical losses.

The year after you purchase your home or lot, the Taxable Value is "uncapped" and becomes the same amount as the Assessed Value for that year only. Each year thereafter, the Taxable Value is adjusted by the IRM in the same manner as described above.

Proposal A mandates that the Taxable Value is adjusted each year by the IRM. The Assessed Value is adjusted each year based on sales studies. Sales studies are based primarily on actual sales of similar homes in similar areas. The sales analysis may indicate that the market value should increase, decrease or stay the same.

If the Assessed Value of the home is determined to be less than the Taxable Value which has been adjusted by the IRM, the Assessed Value (the lower value) becomes the Taxable Value. Taxable value is the amount on which property taxes are calculated.

What if I do not agree with the Assessed Value or the Taxable Value of my property?
Each property is valued annually. Property owners are notified annually of their revised assessment. Review the Assessment notice carefully. If you dispute the Assessed Value the Assessor's Office recommends that you discuss your Assessed Value and the calculation Taxable Value with our office. Also, visit the Assessor's Office to inspect your property record card for accuracy. The property owner may appeal their Assessment to the March Board of Review. Taxable Value may change as a result of an Assessment revision, however, may not be appealed independently of the Assessment.

The Assessment Notice lists the dates that the March Board of Review is in session. The March Board of Review conducts informal hearings on the current years Assessment. Valuation disputes may not be heard by the Board of Review after their March Board sessions have closed. Therefore, it is important that property owners disputing their Assessment file their appeal timely.

The West Bloomfield Township Board of Review consists of three groups of three members. These nine members, along with an alternate member, are appointed by the Township Board in accordance with the Michigan General Property Tax Act.

What if I dispute the decision of the March Board of Review?
If you dispute the decision of the March Board of Review, a property owner may appeal to the Michigan Tax Tribunal. The appeal must be filed with the Tribunal. Certain appeals may require an appearance before the March Board of Review before  you may appeal to the Michigan Tax Tribunal.

Are the appraisal records open to the public?
Virtually all the Assessment records are available to the public. Property owners may examine their property records, as well as any other property in the Township.

Business Personal Property generally consisting of office furniture and fixtures, machinery and equipment, computers, etc, is subject to taxation in the State of Michigan. Normal household furnishings are specifically exempted from personal property taxation.

Owners of assessable personal property are required to file a personal property statement on or before February 20th of each year. This date may vary for a certain types of personal property.  Additionally, if February 20 falls on a Saturday or Sunday, the date will be modified.

Contact the Assessor's Office should you have questions about assessable personal property.

@ccess Oakland

Oakland County Register of Deeds Search (www.landaccess.com)
Michigan Tax Tribunal
Michigan Townships Association

If you own and occupy your home as your principal residence, you may be eligible for a Principal Residence Exemption (PRE). Parcels with a valid PRE are exempt from a portion of the school operating millage rates. Your Assessment Notice and Tax Bill will indicate whether your home is 100% PRE, or some percentage thereof.

To claim an exemption, the owner/occupant must file Michigan Department of Treasury form 2368 with the local assessor in the community where the property is located. The deadline to file form 2368 is June 1 for the summer tax levy and November 1 for the winter tax levy.

Within 90 days of when you no longer own and/or occupy the property as a principal residence, you must complete and file with the local assessor, a Request to Rescind Principal Residence Exemption (PRE) Michigan Department of Treasury form 2602. Alternatively, the property may be eligible for a "Conditional Rescission" if another PRE has been established and if the home is for sale. The property owner must file a Conditional Rescission of Principal Residence Exemption (PRE), Michigan Department of Treasury, form 4640 to determine eligibility.

Please read the Michigan Department of Treasury forms carefully to ensure eligibility. The forms are available at www.michigan.gov or at the Assessors Office. Please contact the Assessing Office should you have any questions about Principal Residence Exemptions.

Michigan Statue requires that the buyer, grantee, or other transferee notify the appropriate assessing office within 45 days of the transfer of ownership. The notification is to be in writing, specifically on form L-4260.

This form is available in the Assessor's Office. Failure to file form L-4260 will result in a penalty.

Undisclosed sales are not exempted from filing the L-4260 transfer of ownership form.