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Cpi.

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Charley Horse

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Junior Member
Joined
Aug 28, 2004
Professional Status
Certified Residential Appraiser
State
Michigan
Taxable values going up 4.4%... glad I'm not on BOR :(

Perhaps time for our legistators to revisit HEADLEE AMENDMENT...

...pros/cons?
 

hglenbetts

Senior Member
Joined
Dec 3, 2007
Professional Status
Certified Residential Appraiser
State
Michigan
you can't please all the people, all the time. having been in my home for 20 years, even with the 4.4, my taxable still isn't near my SEV, little lone my market value.

Non bank sales in my real estate market are typically selling for less than 1.5 times SEV, and my market studies are showing declines of 11 - 18% per year, over three years in many areas. The typical decline of SEV by the assessor's office has only been 2-4% annually. For people who have been in their homes 5 years or less, their taxable have stayed capped by their SEV which is inflated.

Rather than repeal Headly, we should be demanding that SEV's be reset to reflect the true value in the market, not just calculated by some secret little equalization formula.

Let's here from the assessors in the group.
 

Kali the Boston Terrier

Senior Member
Joined
Jul 7, 2003
Professional Status
Certified General Appraiser
State
Michigan
4.4 I wish it were higher...then my tax appeal business would go through the roof. I've already got several tax appeal appraisals...and people have not even seen their tax assesments yet. It's funny how nobody complained about their taxes when values were going up...now values are going down, and the same system that saved people thousands of dollars a year is now broken. Well great timing, the system that is responsible for lack of funding throughout the state...and responsible for the dismantling of the public school system, lack of road salt and why it took them 17 years to replace the roads in front of my house...now its broken.
 

Michigan CG

Moderator
Staff member
Moderator
Joined
Nov 1, 2006
Professional Status
Certified General Appraiser
State
Michigan
.........Rather than repeal Headly, we should be demanding that SEV's be reset to reflect the true value in the market, not just calculated by some secret little equalization formula......

There is your spring business.....appraisals to appeal property taxes.
 

lizhorvath

Member
Joined
Dec 11, 2003
Professional Status
Licensed Appraiser
State
Michigan
What homeowners don't know or keep forgetting, is that if it weren't for Proposal A of 1994 that started the Assessed Vs. Taxable Value / Homestead situation, they'd have been paying taxes based on their Assessed values, which for a few years now, have been skyrocketing.
Property owners love Proposal A in an increasing market, but it's not designed to work so well in a declining market...
I say, as an assessor, that if someone can get a new proposal that makes sense on the ballot, go for it - everyone hates the CPI increases, but they'd hate it even more if the Taxable Value caps hadn't been keeping their taxes from jumping up as fast as their market values for the past 5 years...
Make sure you vote, folks!
 

hglenbetts

Senior Member
Joined
Dec 3, 2007
Professional Status
Certified Residential Appraiser
State
Michigan
What homeowners don't know or keep forgetting, is that if it weren't for Proposal A of 1994 that started the Assessed Vs. Taxable Value / Homestead situation, they'd have been paying taxes based on their Assessed values, which for a few years now, have been skyrocketing.
Property owners love Proposal A in an increasing market, but it's not designed to work so well in a declining market...
I say, as an assessor, that if someone can get a new proposal that makes sense on the ballot, go for it - everyone hates the CPI increases, but they'd hate it even more if the Taxable Value caps hadn't been keeping their taxes from jumping up as fast as their market values for the past 5 years...
Make sure you vote, folks!

When I consult with home owners, I do some quick math to show them how much they've saved over those years. There are no real losers in this deal, unless your SEV is above the true value. That's where we step in.:clapping:

Can some of you assessors and those that have been doing appeal appraisals offer some insight on what will make the BORs sit up and pay attention to the reports we provide??
 

hglenbetts

Senior Member
Joined
Dec 3, 2007
Professional Status
Certified Residential Appraiser
State
Michigan
unless your SEV is above the true value. That's where we step in.:clapping:QUOTE]

That seems to be the case on about 90% of my appraisals!

Very True..

I was trying to point out that the HOs with their Taxable the same as their SEV, which is above true value will be where can find new business.

I've already started marketing in my community to "offer assistance"
 

Kali the Boston Terrier

Senior Member
Joined
Jul 7, 2003
Professional Status
Certified General Appraiser
State
Michigan
Ethically you better be retained as an expert first, direct solicitation could be construed as advocacy... Just FYI
 
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