Understanding Assessing and Assessed Values
The Township Assessor's Office is responsible for administering the property tax laws of the State of Michigan. The Assessor's Office prepares the assessment roll for properties within Kalamazoo Township.
Some things to keep in mind about Assessed Values & Taxable Values
- Your taxes are based on the Taxable Value of your property.
- Your Assessed Value represents approximately half of the estimated True Cash Value of your property.
- Your Taxable Value can never exceed your assessed value.
- Your Taxable Value can only increase by the rate of inflation or 5%, whichever is less. Unless there is a physical change to your property or there has been transfer of ownership
- The annual changes in your Assessed Value are based on sale studies conducted every year for properties that have sold in your in neighborhood.