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.
Did you just find your dream home while touring open houses in Kalamazoo, Portage, or Texas Township on a Sunday afternoon?
Picture this: it is 1:30 PM on a Sunday. You step inside a beautiful ranch near Milwood. The layout is perfect, the backyard is huge, and multiple buyers are already grabbing flyers at the kitchen counter.
The listing agent announces: “We have three offers in hand. The seller is making their final decision at 5:00 PM today!”
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