Lake Township Property Taxes

Lake Township Property Taxes

Posted in the Benzie County Forum

Tax Happy

Traverse City, MI

#1 Feb 19, 2010
Property values are down every where with the exception of Lake Township.
As an example prime lake front property values have declined 20% on Little Glen Lake in Empire from 2008 to 2009 which has been reflected in the property owners S.E.V Yet property values or the S.E.V. according to the Lake Township assessors have remained the same.

Real estate values have plummeted across the state. This would include residential,commercial,industr ial and vacant property as well.

Although the taxable value may have declined less the 1% due to a low CPI or Consumer Price Index the Lake Township assessor would have you believe your property values have not changed. Property owners should be aware that the taxable value can be equal to but not greater then the S.E.V. or State Equalize Value.
Your taxable value cannot exceed the S.E.V on your tax bill. If your taxable value matches your S.E.V then you need to be aware that if your S.E.V is lowered so shall your taxable value. What this means is you pay less in taxes. I would strongly urge all property owners that have not seen a drop in their S.E.V to argue their case with the township and if necessary to have your case heard at a tax tribunal.

Common sense would tell you that the S.E.V. In Lake Township has decline as they have with every other township in the area. With the exception of Empire where it seems that the assessor has cherry picked a few properties on Big Glen Lake to increase the average S.E.V by over 7%. in Empire.

As long as the residents of Lake Township accept this type of practice this will continue. Your property will continue to be over assessed and you will continued to over taxed. Property values have fallen and the Lake Township assessor needs to recognize that. The assessor does not determine the market value of your home.

It's your money!

Traverse City, MI

#2 Feb 26, 2010
I agree. I live in Lake Township the S.E.V's being set by the assessor are unrealistic.

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