NY also has separate multi-tier assessed values versus taxable value. It's done for several reasons. Also - the towns establish their own percentages of what an assessment represents. In the town of Worcester NY where I am selling off right now - all property is assessed at 60% of actual value.
In regard to Michigan, I own two properties that were both reassessed when I bought them. NO splits. One in Presque Isle County and one in Alpena County. I took both to court via a judge sent from Lansing and I won with both. I'm talking about the actual assessment. So yes, it is done. Is it done legally? Perhaps not. That is why I fought them. But if a property owner does not fight it - it gets set in stone. By the way, my initial complaints with the local boards of review were useless. I used to be on the board of review in my area of NY and we did things with a bit more equity. Especially useless were the board members in Maple Ridge Township, Alpena County. Their collective attitude was - if the assessor puts a value on the property, it MUST be correct because he is an expert. What a joke!
One nice thing that Rick Snyder did is to change the tax law so that "virtual cap" stays in place if a family member transfers ownership of a house to another family member. We might be involved in one of those deals soon.
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Today's Featured Article - An Old-Time Tractor Demonstration - by Kim Pratt. Sam was born in rural Kansas in 1926. His dad was a hard-working farmer and the children worked hard everyday to help ends meet. In the rural area he grew up in, the highlight of the week was Saturday when many people took a break from their work to go to town. It was on one such Saturday in the early 1940's when Sam was 16 years old that he ended up in Dennison, Kansas to watch a demonstration of a new tractor being put on by a local dealer. It was an Allis-Chalmers tractor dealership,
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