property taxes (house, schools, move)

[kcam213]

I was looking at new builds in new subdivision in Superior Township.

The mills are supposed to be 37 mills.

Now it is my understanding that to figure out taxes you take 50% of value of home for your appraisal rate and multiply by 0.037. I come up with $3700 for taxes for house appraising at $100,000. This is also what the mortgage woman estimated my taxes to be.

But I was looking at previously owned homes, same model, cheaper asking price, in the same subdivision. Taxes were listed around $5000. Why the difference?

Do you use the price of the base home model, or the purchase price that includes all upgrades such as granite counter tops, etc.

Has anyone seen their taxes go down to reflect the loss in home values?

It really seems like a rip off to continue to charge people same taxes for homes that have loss 30% of value.

[magellan]

Originally Posted by kcam213

I was looking at new builds in new subdivision in Superior Township.

The mills are supposed to be 37 mills.

Now it is my understanding that to figure out taxes you take 50% of value of home for your appraisal rate and multiply by 0.037. I come up with $3700 for taxes for house appraising at $100,000. This is also what the mortgage woman estimated my taxes to be.

But I was looking at previously owned homes, same model, cheaper asking price, in the same subdivision. Taxes were listed around $5000. Why the difference?

Do you use the price of the base home model, or the purchase price that includes all upgrades such as granite counter tops, etc.

Has anyone seen their taxes go down to reflect the loss in home values?

It really seems like a rip off to continue to charge people same taxes for homes that have loss 30% of value.

Do you mean the home's "assessed value" was $100,000? Not appraised, as in market value.

The other homes might be higher if they are not someone's primary residence, and the tax rate would be the non-homestead rate.

But I agree, 37 mills is a rip-off, especially for a township.

[kcam213]

Oh, so if the home is not a primary residence that might explain the difference?

So the taxes that are listed with the property for sale listing may not necessarily be your tax amount if you buy the property??

Does adding options like upgrade floor, cabinets and countertops add to the assessed value of your home or is the assessed value determined by square footage, and other structures that are connected to your home.

[sikes0000]

3700 for a 100k home?!

I have heard that if its not your primary residence you can get nailed.

Schools might make a difference. I am not familiar with Superior but there is a chance there could be muliple school districts in the area. Superior might be Ann arbor schools

I can't imagine paying more then 5k for a home less then 100k.

Maybe lots of re-financing?

Sorry, I probably have just as many questions as I am not yet a homeowner

[magellan]

Originally Posted by kcam213

Oh, so if the home is not a primary residence that might explain the difference?

So the taxes that are listed with the property for sale listing may not necessarily be your tax amount if you buy the property??

Does adding options like upgrade floor, cabinets and countertops add to the assessed value of your home or is the assessed value determined by square footage, and other structures that are connected to your home.

Possibly. There is a homestead rate and non-homestead rate in Michigan. Non-homestead is usually 50% or so higher. If the people who own the home for sale have moved already and are claiming their new residence as their primary home, then the home for sale is taxed as a non-homestead. Could be why. You should be able to look up their tax info at Washtenaw County's website (I believe that's where Superior Twp is). Should give you assessed value, etc..

[allbusiness]

The 37 mills you mentioned, plus the 18 mills that is assessed to non-homestead properties would equal 55 mills That's $55 for every thousand dolars of ASSESSED vaklue, which is 50% of market value.

So, a $200,000 home, assessed at $100,000 would be taxed $5,500 if it is not your primary residence and $3,000 if it is.

Also, DO NOT use the former tax bill as a basis for your estimate. if you live in a home, the taxes only increase at the rate of inflation in Michigan. But when the home is sold, then it ADJUSTS to market value. This is one heck of a shock to people who are not aware of it!