Farmington Hills

That is what Farmington Hills homeowners are receiving in the mail these days with notice of their Farmington Hills new property tax assessment.  This is your notice of assessment, taxable valuation and property classification. It will tell you what the municipality is proposing to do with your 2009 property tax bills.  The amount for 2008 is listed with the amount for 2009 and then the change (if any) is calculated in the last column.

Very important to the owners who are living in their Farmington Hills properties is the  “Homeowners Principal Residence” exemption.   If you are a Farmington Hills owner occupant do make sure that is marked as 100% as this does give you the best tax rating.   Farmington Hills owners  who do not occupy their properties have a 0% exemption and pay more in their tax amounts for the same assessed values.

The SEV or assessed value and the TAX or taxable value used to be the same until Michigan voters approved a new constitutional amendment in 1994 known as Proposal A.  This amendment does put a cap on the taxable value increases until a Farmington Hills property is sold or improved.  The taxable value can never exceed the assessed value.

As there are not enough good viable sold comparable homes in today’s real estate market to base current assessments on, Oakland County Equalization Department has allowed the City of Farmington Hills to consider a 12 month sales study to determine values for the 2009 assessment cycle.  The 12 month property sales study for the 2009 tax assessments is October 1, 2007 to September 30, 2008.

If you want to appeal your tax assessments for 2009 you must use comparable Farmington Hills property sales from this time period and go before the Board of Review.

Anyone wanting to appeal their property tax assessment in Farmington Hills can contact the City of Farmington Hills Assessors office at 248 871 2470.  Their office hours are 8:30 am to 4:30 pm Monday through Friday.