In Michigan when a home sells the taxable value will uncap. Often the local assessor will also match the state equalized value to the sales price. When this happens the annual taxes will change. This is a great tool you can use to see what property taxes might do when a home is sold. Additionally this a great way to look at property tax rates in different areas. Remember the SEV is half the sales price.
Do you want to own real estate in Kalamazoo or Portage, but today’s mortgage payments feel intimidating on a single income?
Yesterday, a smart first-time home buyer stopped into my office after touring a solid duplex near the Vine neighborhood in Kalamazoo. Each unit featured two bedrooms, separate utility meters, and updated kitchens.
The buyer loved the property. One tenant was already paying $1,350 per month, leaving the second unit wide open for an owner to move right in.
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