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The Notice of Assessment, Taxable Valuation and Property
Classification is sent to every property owner on an annual
basis. An explanation of it follows:
How to Read your Change of Assessment Notice Explanation
and Example
The amount in the "CHANGE" column does not reflect
the change in tax dollars for 2008. The "CHANGE" column is
simply the difference between the 2007 values and the 2008
values.
The change in property tax for 2008 for a property with
the Homeowner’s Principal Residence Exemption will be
approximately $37.00 for every one thousand dollars of change
in the Taxable Value (Change column, Line #1). The $37.00
estimate excludes any changes in the millage/tax rate.
For example, let’s say the Change in Taxable Value
("CHANGE" column, Line #1) equals $1,000. This means
the 2008 taxable value on the property has increased by $1,000
from 2007. The calculation to estimate the change in property
tax would be 1,000 x .037 = $37.00. Therefore, $37.00 would be
the estimated change in property taxes for 2008.
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To estimate
the change in property taxes for a Homeowner’s Principal
Residence Exemption Property: |
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________________________ X .037 =
$_____________________________ |
Insert your Change in
Taxable
Value ("CHANGE" column, Line #1) |
Change in property tax
due to change in Taxable Value |
The above estimate excludes any significant change in the
millage/tax rates.
For NON-HOMESTEAD PRINCIPAL RESIDENCE EXEMPTION
property, substitute:
$47.00 (.047) for Bloomfield School District; or,
$53.00 (.053) for Avondale School District; or,
$47.00 (.047) for Pontiac School District; or,
$48.00 (.048) for Birmingham School District.
in the above formula.
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Charter Township of Bloomfield
4200 Telegraph Road
P.O. Box 489
Bloomfield Hills, MI 48303-0489
248.433.7700
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