Property Valuation
Michigan's Board of Review allows property owners to appeal their:
AFederal income tax assessment
BProperty tax assessment (SEV or taxable value)✓ Correct
CMortgage interest rate
DHomeowners insurance premium
Explanation
Michigan property owners may appeal their property tax assessment (State Equalized Value or taxable value) to the local Board of Review in March, and further to the Michigan Tax Tribunal if unresolved.
Related Michigan Property Valuation Questions
- In Michigan, when appraising a property in the Detroit urban market, an appraiser must consider:
- In Michigan, a 'green' or energy-efficient home may command a premium in the market because buyers value:
- A Michigan property has 3,500 sq ft of living area. If similar homes sell for $85 per sq ft, the indicated value using the cost approach per-square-foot method is:
- Functional obsolescence in an appraisal refers to:
- The principle of substitution in Michigan appraisal means:
- Highest and best use in appraisal is the use that is:
- A Michigan appraiser notes that a subject property's bathroom has outdated fixtures. This type of depreciation is called:
- Which type of depreciation is generally considered incurable in Michigan appraisal?
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