Still another approach would be to file a complaint with the county assessor to seek to have the unit assessed valuations
based on the sales process, and not percentage of ownership.
"The phrase 'assessed valuation
of the real property in the area to be annexed' includes the assessed valuation
of all real property in the area to be annexed regardless of whether the real property is tax-exempt," wrote Watts, who was joined in dissent by Judge Sally D.
Properties that are not required to file an RPIE or Claim of Exclusion include properties with an actual assessed valuation
of $40,000 or less, residential properties with ten or fewer dwelling units, Tax Class 1 and Tax Class 2 properties with six or fewer dwelling units and no more than one commercial unit, and individual residential condominium unit owners.
The Court of Appeals of Michigan found the assessed valuations
were based on competent, substantial, and material evidence and affirmed findings for both properties.
There are also more than 300 properties owned by religious entities that have a total assessed valuation
of $437.9 million, according the Ford report.
The assessed valuation
is to be as of that statutory date, and reasons why this date is important include new construction in progress, remodeling under way, vacant space, physical condition of the building, utilization of the building, and date of occupancy.
The "stable" outlook incorporates the district's good debt-service coverage due to consistent assessed valuation
(AV) growth and ability to raise the mill levy, the rater added.
The assessed valuation
has been around $90 million since 2003, county appraisers said.
It should be noted that the assessor will not include in determining the assessed valuation
of properties in the area any home which was not purchased in an arms-length transaction.
In 2007, the state law capped the amount that could be deducted at an assessed valuation
At the low end, there were 69 school districts with property tax rates below $2 for every $100 of equalized assessed valuation
in 2003, the latest year for which property tax information was available.
It is important to be aware of the timeline local assessors work on in establishing the assessed valuation
of your real estate.