The annual notice of assessment, taxable valuation and property classification will be sent to all property owners within the City of Hudsonville in mid-February, 2004. This notice is issued under the authority of Public Act 206 of 1893, Section 211.24 (c) and begins by identifying the taxpayer of record, the property by parcel number and address, and the current classification of the property. Changes in taxable, assessed, and state equalized values are provided (see definitions below). If a change has occurred in the classification of the property it will be stated on the notice. If there was a transfer of ownership in 2003, the 2004 taxable value and the assessed value are the same due to "uncapping". Principal residence and agricultural exemptions that exempt the property from 18 mills of school tax are also shown on the notice. The notice should be reviewed by the taxpayer for accuracy as there are additional taxes, interest, and penalties that may accrue if corrections must be made at a later date. Also, it is the position of the Department of Treasury that it is the taxpayer's responsibility to know that their property record is correct.
Additionally, this notice provides information regarding the appeal process for disputes concerning the property assessment and lists the dates and times the Board of Review will be in session. It is recommended that any taxpayer with questions and/or problems review the property tax record with the assessor. The assessment process and the property record can be reviewed personally and privately with the assessor without jeopardizing the options of the appeal process through the Board of Review, the Michigan Tax Tribunal and/or the State Tax Commission. The 2004 March Board of Review will meet in Hudsonville City Hall on March 2 at 5:00 p.m. to receive the 2004 assessment roll and again on March 22 at 5:00 to endorse the roll and formally adjourn. The public is welcome to attend but appeals will be not be heard at these meetings. The appeal meeting dates and times are tentatively set for:
- Monday, March 8, 2004 3:00 p.m.- 9:00 p.m.
- Tuesday, March 9, 2004 6:00 p.m.- 9:00 p.m.
- Wednesday, March 10, 2004 6:00 p.m.- 9:00 p.m.
Again, taxpayers are encouraged to discuss their assessed value, taxable value, and/or any other information that appears on their Notice of Assessment with the assessor prior to meeting with the Board.
If you have any questions regarding this information please contact Jan Sal, Hudsonville City Assessor at 669-0200, extension 413.
DEFINITIONS:
Assessed Value (AV) - represents 50% of the market value of the property. This value can change from year to year without regard to caps or other presumed limits on taxes, etc.
State Equalized Value (SEV) - is the value of the property as equalized by the county and/or state. Generally, the SEV is the same as the assessed value unless the state or county has applied a multiplying/equalizing factor to correct the overall valuation of a class of property in the city.
Capped Value - is the taxable value of the property last year plus 5%. One of the mandates of Proposal A is a 5% cap on the valuation used to calculate taxes.
Taxable Value - THIS IS THE VALUATION USED TO CALCULATE YOUR TAXES. Since the inception of Proposal A, SEV and AV are no longer the base for calculating taxes, unless the property has been transferred to a new owner (most commonly through a sale). Then the taxable value is uncapped and the assessed value becomes the taxable value for the new owner in the year following the transfer of ownership. However, for the current owner (owner of record on or before December 31, 2003) the taxable value does not change by more than the State Tax Commission Consumer Price Index, (inflation rate) OR the mandated 5% cap, whichever is less. The Consumer Price Index has been established as 2.3% for the 2004 Assessment year. Improvements to the property such as additions, accessory buildings, fencing, decks, and/or finished basement are added to the taxable value in addition to the inflation rate adjustment. Likewise, improvements to the property that have been removed are subtracted. If no changes have been made to the property the 2004 taxable value has increased by 2.3% over last year's taxable value. The assessed value or state equalized value may have changed substantially more but will not affect your taxes.
