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Re: new to the bord
Old 02-26-2004, 02:48 PM   #41
Dryer sheet wannabe
 
Join Date: Jan 2004
Posts: 23
Re: new to the bord

Well a clasic end of feb. and march beg. here, one day it is 10 below and the next it is forty, I am working on a one point five mil. home of a chrystler ex. in a place called bay harbor, a new town made for the ultra rich, and guess what ice dams are everywhere, leaking and snow drifting in the throught the 2 grand doors. makes me lol. but it also makes me hate the north, I need the sun, and I just got my property tax for next year, get this, I have 80 acres and on the 80 I have my home and 2 rentals. I sold one rental a stone house that I remodeled and a pole barn for 96k and in the proses I have axed off the other rental by default of the property lay out. this is what pi$$s me offf about michigan, my property tax for the whole lot was 2136, a year kind of high for the north. but I though when I seperate it all my home should be about 800 to 900 not the case, they hit me for 1400 and my single wide for 400 and the stone house for 1400 so the dam state gets an extra grand. I will tell you that dam grandholm, the blond bimbo this stupid state elected is grubing for every dollar thay can get. any way, I was looking at alabama and an 80k home property tax is 156 and that is for a year I need to find a town in mississippi, lousiana, arkansas or florida, and get the hell out of dodge.
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Re: new to the bord
Old 02-26-2004, 03:07 PM   #42
Recycles dryer sheets
 
Join Date: Jan 2004
Posts: 144
Re: new to the bord

It was Headlee that got you. Your property taxes are capped at the original value when you bought it plus the rate of inflation until you sell the property. Oops, you split your lot and uncapped the property tax.

In Michigan the strategy is buy and hold. Over time your property tax will likely drop.

Newly sold properties are taxed at their current value. Properties held for a long time are taxed at their previous sale value (actually the assessment at that time) plus inflation (plus improvements).

Many municipalities, schools and other jurisdictions are limited to increasing property tax revenue at the rate of inflation. So the total tax revenue for a jurisdiction is limited, its just a matter of how the burden is distributed between all the property owners in a jurisdiction. When your neighbors sell and the new owners get hit with taxes based on current value, your property taxes could well go down.

Its not fair, it was intended to help out poor old people from losing their homes to taxes. Blame Headlee.

In Michigan, when it comes to property, BUY AND HOLD!

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Re: new to the bord
Old 02-27-2004, 03:08 AM   #43
Dryer sheet wannabe
 
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Re: new to the bord

the problem is that selling is not the only way they can reasses your property, if you improve it ie addtion or polbarn gradge ect. they can reassas you value. michigan is just not tax friendly. my personal opinion there should be a tax [property] exempt status for your primairy home in the amount of the median state housing cost. so if the state avrage home is 169k then no one pays taxes on that amount. and the rich do not get to deduct on second and foruth homes. if the state needs to take up the tax on second homes fine. when you work in bay harbor and I am standing in one five mil. condo looking across the harbor at the owner of king foods home that is valued at 10 mil. with its own gradge for the boat that you can drive the sail boat in from the water and shut the door. this is were I feel that the rich can make up for the less affluante
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