Real Property Annual Review Program

The Assessor's office reviews a portion of the properties in the City every year. This process includes:

Updating the exterior photo of the property
Reviewing aerial photos
Reviewing the condition of the structure

A City Appraiser will start by reviewing the property from the street level. They drive down the street and take photos from a Grand Rapids City car. The Appraiser will always have City identification. During this process, the appraiser will not request to inspect the inside of the home or the backyard. Note: If you see someone that behaves different from this description, please notify the Police Department.

The Assessor's office also inspects a property when notified of new construction, remodeling or demolition. An appraiser from the Assessor’s Office may request a full inspection if there are physical changes made to the property.

Why do we do this?

The Assessor's office has the responsibility to assess all property in the City at 50% of fair market value. This includes homes, factories, commercial properties, vacant land and personal property. To meet the standards of the State Tax Commission, the Assessor’s office reviews a portion of the properties every year. This allows the City to keep accurate records.

How are the areas selected?

The City categorizes residential properties into neighborhoods. This allows the Assessor's office to analyze trends in the real estate market and adjust appraisals to the market changes. There are 130 different residential single family neighborhoods. Neighborhoods that don't show consistency in assessed value are selected for review.

View the Residential Annual Review Program Dashboard

What is market value?

The market value is the probable price that a property would sell for in an arm’s length transaction between a willing buyer and a willing seller. In Michigan, market value is the "True Cash Value" (TCV). To find the fair market value of a property, the Assessor gathers the following information:

Land size
Building size and quality
Real estate sales
Construction costs
In some cases, rental incomes and operating expenses

The Assessor uses this information with mass appraisal techniques to estimate the property’s value. This annual review ensures the Assessor is using the most accurate data for the estimate.

Will this change how much I pay for property tax?

Your property tax statement is calculated using your taxable value, which is less than or equal to your assessed value. Since the assessed value is dependent on market value, the assessed value will change depending on market conditions. Changes to your property can affect the calculation of True Cash Value. New additions may increase the assessed value. Demolitions that cause value to decline may decrease the assessed value. These changes will be reflected in your Notice of Assessment Change that is mailed in January. Even if there are no physical changes to your property, your assessment may change based on what is occurring in the current real estate market.