Assessment Information for 2010
The Consumer Price Index (CPI) mandated from the state this year is -0.03%. Taxable Values on properties will decrease by that amount for taxing purposes next year. Taxable Value is the basis for your property taxes. This will be calculated using the inflation rate of 0.997 for the 2009 capped value. Properties that have been uncapped as a result of a sale may see a higher increase in taxable value as well as properties for which there is new construction. The assessed value, however, is not the value that is multiplied by the millage rate to establish taxes. Assessed value in many cases will decrease due to the decline in the residential home sales. Vacant land sales in the Township have also decreased in value. Your Assessment Change Notice was sent out in February 2010, and if you have questions or concerns please contact me at the Township office. Remember, it is taxable value that is used to compute tax bills.
Homestead Exemption is also indicated on the Assessment Change Notice. You should check your notice at the center bottom for the number that can range from 0 to 100%. To receive 100% property exemption you must own and occupy your residence. All homeowners for newly constructed homes must file an Principle Residence Exemption form with their local government and occupy the home by May 1st to receive the exemption. The forms are available at the Township office.
