|
Allegan Township Review
The second year of the reappraisal went very well. In 2006 we concentrated on all waterfront areas, except the river, and this past summer, 2007, we looked at rural residential for Sections 1-18 and Industrial parcels. The main purpose of the reappraisal is to gather information that the Township has been lacking. All structures on the property were re-measured and photographed. Inside information was collected when residents were home and, if not, a card was left indicating that someone was there and a questionnaire for all of the inside information. I reviewed homesteads as data was entered, priced up land and reviewed classifications.
A new ECF was created for single family homes and one for modular/manufactured homes. ECF's are economic condition factors which is a factor calculated from area sales. With the input of new information, I am now able to study areas with actual sales and apply a factor which calculates the increase or decrease in assessed values rather than apply a generic factor generated from the county. New land tables were also created based on vacant land sales which had occurred within the sales date window of 04/05 through 03/07.
All of the measurements were then drawn into APEX, a sketching program, used to calculate square footage and then buildings were priced in the assessing program. In 2008, SEV's (assessments) have changed by sales studies and the new information, instead of a factor applied each year previously from Allegan County. Taxable value will not be changing because of the reappraisal unless new construction was occurring at the time the SEV dropped below the 2007 taxable value or a transfer of ownership occurred in 2007. It's important to remember that assessed values can go down and taxable values may still go up based on the CPI (Consumer Price Index) handed down each year by the State Tax Commission. The CPI is what calculates the increase in taxable value, resulting in an increase in taxes. For 2008, the increase was 2.3%. If your taxable value was $50,000 in 2007, you will multiply it by 1.023 to uncover your 2008 taxable value of $51,150. However, it's important to remember that taxes are then calculated on millage rates which tend to change each year. To obtain an estimate of what taxes would be, take your millage rates from 2007 and multiply your 2008 taxable value.
This summer will be the conclusion of all rural residential properties in Sections 19-36 and the Commercial properties.
I appreciate all of the cooperation that residents have given during this process and look forward to this coming summer. Should you have any questions on the process or your parcel in particular, contact me at 269-978-8274. |
