Posted by rrlund on March 02, 2008 at 08:59:20 from (216.46.212.236):
In Reply to: Re: Hey Mich. guys posted by gun guru on March 02, 2008 at 04:05:42:
You're compairing apples and oranges here. You don't pay taxes on your State Equalized Value (SEV) and that's what was reduced. You pay on your Taxable Value and that went up 2.3%. Everybody in the state got that increase,from Detriot to Copper Harbor. That's the law under Proposal A of 1994. No,we don't cut SEVs as a general rule. They have to be near the 50% ratio set by the State Tax Commission. If we lower too many of them and throw off the ratio,the state will come in and raise them ALL. They would raise everybody to 50%. We keep them at around 49.75%. They'll allow that much. Keep in mind,one of the factors in determining State Revenue Sharing is the totals of those SEVs in a community. The higher those SEVs,the more revenue sharing that local government recieves. In a b@stardized roundabout way,higher SEVs mean lower taxes. If a community looses revenue sharing,the local millage and in turn your property taxes will have to be higher to continue to provide the same level of services.
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