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Michigan Property Tax Updates

UPDATED december 2020

Time to Prepare for Michigan 2021 Appeals

Michigan taxpayers should receive their 2021 assessment notices during the first quarter of 2021, and most taxpayers will have them before March arrives, so taxpayers should be watching for them.  Based on conversations with many assessors, there should be no surprise if the 2021 assessments do not reduce values. 

The Proposal A “inflation rate” for 2021 is 1.4% which means that taxable values (on which taxes are based), will increase where a property’s state equalized value exceeds its taxable value (typically state equalized value and assessed value are the same and required to be half of market value).    For properties that transferred during 2020, no taxable value cap applies for 2021 and these new owners should be particularly aware of the potential for large tax increases, even while the pandemic is still creating so much hardship.

During 2020, due to the pandemic, and the difficulties taxpayers were experiencing, the Legislature extended the Tax Tribunal appeal deadline to August 31.  This was especially helpful to owners of commercial and industrial real properties, many of whom were challenged to timely file appeals by the May 31 deadline.  Taxpayers should not count on being able to obtain additional time in 2021.  Taxpayers, especially those whose properties have suffered because of the pandemic, should be proactive in 2021 and begin working with property tax counsel even before the assessment notices are sent.  Paste or type article here.

Honigman LLP
American Property Tax Counsel (APTC)

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