It is very important to look at the current taxes on the listing ticket and then to look at the public records to find out if the Michigan property taxes will go up once you buy the property.
If the SEV (state equalized value) is greater than the taxable your Michigan property taxes are going to go up next year. You don't want a big surprise next year and find out you can't find afford the house next year because of the taxes. It's a surprise you don't want to know about
Be sure to ask your agent to help you find this out.
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Russ Ravary
"helping make your move easier"
your local Metro Detroit Realtor helping clients like you sell and buy homes through out the entire Metro Detroit suburbs. I love showing and selling Oakland County and Livingston County Lake front homes too.
Great post Russ. That is overlooked by a lot of people when buying and most end up with sticker shock when the taxes come due. I usually take the current SEV and multiply by the current millage to give the buyers an idea of what the taxes will be, but even then no one knows if the area (or parcel) is currently being reassessed. A simple call to the assessor of that area would help.
This is something we cover with every one of our buyers as unfortunately, not every one of their real estate agents does this for them. And the buyer's not going to call the agent when their payment goes up, they call their mortgage person!
Great post Russ!