Property Tax Uncapping Overview

By: Christopher G. Rogers, Attorney The foundation of property taxes is a concept defined as “transfer of ownership,” which is “the conveyance of title to or a present interest in property, including the beneficial use of the property, the value of which is substantially equal to the value of the fee interest.” MCL 211.27a(6). There are certain conveyances that are defined to be a “transfer of ownership” and there are certain defined “exceptions” from a transfer of ownership. Further, there are three values attributed to your property each year: state equalized value, assessed value, and taxable value. Both state equalized Read More …