Every year the Assessor is required by state law to individually
place an assessment equal to fifty percent of true
cash value on all property in the jurisdiction.
An assessment roll is created from these assessments
and is one of the factors in determining the property
tax bill. In 1994 Proposal A was passed which says
taxes will be based on taxable value. Taxable value
is the lower of the State Equalized Value (SEV)
or the Cap Value (simplified, the cap value is
based on the cost of living increase). The local
taxing jurisdictions determine the millage rates
that determine the total amount of taxes to be
collected. The local taxing jurisdictions are the
City of Lapeer, Lapeer County, the Lapeer Community
School District and the Lapeer Intermediate School
District.
The State Tax Commission provides
assessors with manuals and guidelines to follow
to help maintain
uniformity and equality in the assessments. Sales
studies are also prepared annually to help estimate
values.
With the exception of a few records
(personal property statements and real property
confidential
forms)
all records in the Assessor's office are available
for review by the Public. These records would
include the property parcel cards, legal descriptions,
sales study data, lot and building sizes, plat
maps, and
the State Tax Commission manuals.
According to the City Charter, the assessment
rolls must be completed by the first Monday in
March
and be available for review by the taxpayers.
After receiving
their change of assessment notices in February,
an informal review with the Assessor may be requested
by the taxpayer prior to the more formal review
conducted
by the Board of Review at their March meetings.
The Board of Review is made up of City of Lapeer
citizens
appointed by the Mayor and City Commission to
review the assessment rolls. The Assessor serves
as secretary
to the Board of Review.
|
