Assessor

Heather Stewart
(810) 956-7318

Assessed value definition is 50% of market value of property (What you could sell for).

Taxable value definition is 1994 assessed value plus the rate of inflation each year since. Also includes value of new construction since 1994. When a transfer of ownership occurs, taxable value in the following year must equal the assessed value. This is called uncapping.

Millage Rates: School District Homestead* Non-Homestead
  Capac Schools 26.9004 44.9004
  Yale Schools 30.0001 48.0001
       
*Principle Residents Exemption rate is the same as the Agricultural Exemption rate.

Sample Calculation of taxes:

When using millage rates the decimal point must be moved 3 places to the left before multiplying it by the Taxable Value, i.e. Yale Schools Homestead millage rate would be .0300001:

          Taxable Value $50,000
          Millage Rate x .0300001
          Taxes $1,500.01
          Admin. Fee 1%     x         1.01
          Yearly Taxes $1,515.01
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