Proposal A was approved by the voters of the State of
Michigan on March 15, 1994. This Constitutional Amendment
states that, "for taxes levied in 1995 and each year
thereafter, the legislature shall provide that the taxable
value of each property adjusted for additions and losses,
shall not increase each year by more than the increase in the
immediately preceding year in the general price level, as
defined in Section 33 of this Article, or 5 percent, whichever
is less until the ownership is transferred."
Proposal A implemented a cap on the growth in Taxable
Value. Starting in 1995, property taxes have been calculated
using the new term, "Taxable Value." Prior to 1995, property
taxes were calculated using State Equalized Value. Taxable
Value is now the single property tax base used to calculate
Each year, a new Taxable Value is calculated for each
parcel of real property. For those properties that have not
transferred ownership, the current Taxable Value is the lower
1. Current State Equalized Value for the parcel
2. Current Capped Value for the parcel, determined as:
Prior Taxable Value, minus losses, multiplied by either
1.05 or the inflation rate (which ever is lower), plus
If an ownership transfer had taken place, item #2 would not
be utilized and the new Taxable Value would equal the current
State Equalized Value (#1). In the year following a transfer
of ownership, the property is uncapped with the S.E.V.
equaling Taxable Value.
Click here for the
Property Transfer Affidavit form.
This legislation did not alter the uniformity provisions
found in the 1963 Michigan Constitution. Assessed values, as
equalized (State Equalized Value or S.E.V.), are still
required to be at 50% of market value. Assessments are
reviewed and adjusted on a yearly basis according to the value
of the property, based on recent sales throughout the
Township. Increases in assessed value are not limited by
percentage or amount. Assessed value is not capped by any
- State Equalized Value (S.E.V.) is half of the Appraised
- Capped Value is last year's Taxable Value minus any
losses, multiplied by the lower of either 1.05 or the
inflation rate, plus any additions to the property.
- Taxable Value is the lesser of the State Equalized or
Capped Value. The Taxable Value will be used for the
calculation of property taxes.
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4200 Telegraph Road
P.O. Box 489
Bloomfield Township, MI 48303-0489
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Bloomfield Township, Michigan
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