Why isn’t my new assessment 50% of my purchase price?
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Property Assessments/Taxes
The simple answer is that it is against the law. MCL 211.27 states that the purchase price is no longer the presumptive True Cash Value of a property. The assessment is established by analyzing other sales in the area of the property and determining the most usual selling price on tax day.
Updated 5/27/2015 3:08 PM