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  • 3214 Assessor Affidavit Regarding Uncapping Of Taxable Value Assessor Affidavit Regarding Uncapping

Get 3214 Assessor Affidavit Regarding Uncapping Of Taxable Value Assessor Affidavit Regarding Uncapping

Reset Form Michigan Department of Treasury 3214 (Rev. 809) County Assessor Affidavit Regarding "Uncapping " of Taxable Value The changes in Taxable Value recorded on this affidavit are related.

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In Michigan, the assessed value is equal to 50% of the market value. Local assessors determine how much a given property could sell for on the market, usually by looking at factors such as size, features and the prices of recently sold comparable properties.

The taxable amount is the amount in respect of a taxable transaction on which VAT is chargeable (usually, the price of the goods or services).

Affidavit must be filed by the new owner with the assessor for the city or township where the property is located within 45 days of the transfer.

Your taxable value may now be different than your neighbors. Their taxable value may have been capped many years before yours, so it would have no correlation with the current market and is not comparable. The Assessed Value is the factor to be used when comparing properties for current value in the market.

In some states, the payment of property taxes by a person claiming adverse possession can be used to establish legal title. However, there is no such statutory requirement in Michigan. Paying taxes is not, of itself, sufficient to constitute adverse possession.

Applicant or spouse of applicant must reach age 65 by December 31 of the tax year.

What is meant by “taxable value uncapping” in Michigan? In the year following a statutory transfer of ownership, that limitation is eliminated and the property's taxable value is set at 50% of the property's true cash value (i.e., the state equalized value). This is what is meant by “taxable value uncapping”.

The taxable value is the value on which property taxes are calculated. It can be found on the property tax statement or by contacting your local city/township/village assessor's office.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232