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SET (State Education Tax) - The State Education Tax Act was one of several components of Proposal A of 1994 that changed the way in which elementary-secondary education is funded in Michigan. The State levies the state education tax statewide at a six-mill rate on all real and tangible personal property not otherwise exempt from the property tax. This millage is distributed to the county treasurer who then forwards it to the State of Michigan.
School 2000 D - School 2006 D (School Debt) - Special elections are held to enable schools to levy millage for such things as school construction or renovation. This line item could be a combination of several elections the school district has had over the years. Please contact the school district for more detailed information on their debt millage. This millage is distributed directly to the school district.
School Supple (School Operating) - This millage is another component of Proposal A of 1994. Under the proposal, a school district can levy 18 mills for school operating purposes. An exempt principal residence is not subject to the levy of school operating millage. For the majority of taxpayers, this line item will be zero as your property is your principal residence and it is exempted from this tax. Businesses, rental properties and people owning multiple properties will pay the school operating millage. This millage is distributed directly to the school district.
* Assessed value - the assessed value helps determine market value. Set by the assessor, the Assessed value when multiplied by two will give an approximate market value of the property. The assessor is constitutionally required to set the assessed value at 50% of the usual selling price or True Cash Value of the property.
* State Equalized Value(SEV)- SEV is the Assessed Value that has been adjusted following county and state equalization. The County Board of Commissioners and the Michigan State Tax Commission must review local assessments and adjust (equalize) them if they are above or below the constitutional 50% level of assessment.
* Taxable value - multiplying the Taxable Value by the local millage rate will determine your tax liability. Taxable value increases from year to year by the rate of inflation or 5%, whichever is lower. Transfers of ownership and improvements to the property will increase the Taxable Value more than the rate of inflation.
- Neighbors paying completely different tax amounts, and;
- Apprehension about moving to new properties because of the fear of a very high tax increase.
It is important to note that the values set by the assessor are presumed correct. A property owner wishing to appeal the assessment must be prepared to present physical evidence as to why the values should be changed. An example of such evidence would be sales of similar homes that indicate a lower value than the one set by the assessor.
To contact Ionia DPS please call (616) 527-4431.