Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Michigan property-tax law permits annual increases in a property’s taxable value, but generally they are limited to the lesser of 5% or the rate of inflation as determined annually by the State Tax Commission. Taxable value is limited to the lower of the assessed value or the prior year’s taxable value plus the inflation rate.

For the 2004 tax year, the commission determined the inflation rate to be 2.3%. Taxpayers, therefore, generally can expect taxable values to increase by 2.3% or less for 2004. Certain exceptions to the 2.3% limit exist, including additions as defined by statute.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.