Hello, my daughter is purchasing her first home here in Michigan. We are trying to figure out the property taxes. Would the SEV number on a $300k appraised value be $150k? When I type that into the MI Property Tax Calculator, the estimated Value seems way high. Current property owner is paying $2,400. I understand they will be going up, just very surprised they would go up to $7,149. I am trying to confirm this because taxes that high may be a deal breaker for her. Please let me know if you need more specific property information. Thank you in advance!
Michigan property tax – Used SEV and Estimate seems way high
byu/detroitneverleft inRealEstate
Posted by detroitneverleft
1 Comment
That estimate sounds way off – Michigan’s SEV is usually half the market value so you’re right about the 150k part. But jumping from 2400 to over 7k is nuts unless there’s something weird going on like the current owner has homestead exemption or caps that won’t transfer
I’d call the local assessor’s office directly with the property address – they can give you the real numbers instead of relying on online calculators that might be pulling outdated data or missing exemptions