Frankenlust Township contracts with Paul Arnold of Arnold Assessing to provide assessing services in the Township. Annually, the Assessor shall prepare an Assessment Roll that describes all taxable real and personal property in the Township as of December 31st and its assessed and taxable values. The property tax is based on two elements; the value of the property, and the millage rate at which the values are taxed. The value of the property is determined though the assessing process. Millage rates are determined by authorized government units and voter approved mileages. Property taxes are charges to taxpayers for the costs of governmental programs and services that benefit the general public and to finance public improvements, such as road projects.
Taxes are based on Taxable Value. 1 mill equals $1.00 per $1000 of Taxable Value. Amounts with no millage are either Special Assessments or other charges added to the bill.
Did you know you can get current copies of Property Cards for most municipalities, in the state, by going to www.BSAOnline.com
Once you are on the BS&A website, go to the upper right hand corner of the Home page to set up an account and have 24/7 access to property cards.
You may notice a substantial increase in your Assessed Value as you open your assessment change notice next February. The State Tax Commission has adopted a new valuation platform. Beginning with 2019 the Tax Commission has mandated that all assessing software vendors use MMSVP (Michigan Marshall Swift Valuation Platform). This program uses the raw data in our system and applies building costs by Marshall Swift, which is the leading provider of building cost throughout the USA.
I've noticed a building previously valued at $600,000 now being valued at $730,000. This is scary when it first happens but realize that this effects only the Assessed Value, not the Taxable Value. The Taxable Value would change only if there is new construction on the parcel or if the property is sold and thereby uncapped. Assessed values are still adjusted to local Values by the Economic Condition Factor which should keep values reflective of true cash values.
The "Principle Resident Exemption" allows you to be "exempt" from the 18 mill "School Operating" tax on your summer tax bill. If you own and occupy the home as your "Principal" residence you should qualify. Look on your tax bill at the Tax Detail section. You'll see PRE/MBT%:. If that is followed by a 0%, it means you're not getting the exemption.
If you have a question or are unsure if you are eligible, please contact the assessor.
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