Property Notice Information
If you own property, you'll receive a property tax statement every year. The Assessor's Office is responsible for determining Assessed Value, Taxable Value and Capped Value for your property.
The Assessed Value must not exceed 50% of the True Cash Value of the property. The Assessor's Office uses mass appraisal techniques to determine the true cash value of each property every year and set the Assessed Value at 50% of the True Cash Value.
Taxable Value is the basis of the property tax in Michigan and is multiplied by the millage rate to determine the tax amount each year. The Taxable Value is determined by the lower of the Assessed Value or the Capped Value. Properties that transferred ownership in 2025 will have the Taxable Value set to the Assessed Value for the 2026 tax year.
Capped Value is a calculation of the previous year’s Taxable Value multiplied by the Inflation Rate Multiplier and adjusted for any physical changes in the property. The Inflation Rate Multiplier for 2026 is 1.027. The inflation rate multiplier is based on a two year average of the Consumer Price Index CPI.
What Does Your Assessment Notice Mean?
Check out the video below to learn more assessment notices and some of the terminology shown on the assessment notices sent to property owners.
Looking for information about property tax bills?
Interested in knowing more about your property taxes? This guide provides you with helpful information about your bill and how it's calculated. If you came across this page looking for information on how to pay your bill, we've included that too.
