Property Tax Lawyers in Novi

The government of Novi, Michigan requires most people who own real property to pay taxes on its value. "Real property" refers to land and buildings, as well as anything else which is permanently attached to a piece of land, including trees, oil, groundwater, minerals, and the like.

Property tax in Novi, Michigan is derived by taking a percentage of the appraised value of the property in question. They are usually collected on an annual or monthly schedule.

In general, the federal government does not impose any property tax. Typically, property tax is imposed by state, county, and municipal governments.

How Property Tax is Calculated in Novi, Michigan

Usually, Novi, Michigan property taxes are determined as a percentage of the property's value. Tax rates vary widely, but they typically run from less than 1% up to about 5%.

To collect the property tax in a fair and consistent manner, Novi, Michigan tax authorities need to have an objective formula for determining the value of land under its jurisdiction.

In some ways, value is a subjective thing. For example, the home in which you grew up is probably worth far more to you than its market value. To get around this, the government uses nothing but objective factors in determining how much a piece of real property is worth.

To this end, the Novi, Michigan appraiser will look at things like the state of the real estate market, the size of the land, the presence of additions to the land such as buildings, and the way in which the property is zoned.

How A Novi, Michigan Property Tax Attorney Can Help.

Property tax law in Novi, Michigan is not always simple. Legal disagreements about property taxes can arise from almost any situation. For instance, you might have reason to suspect that the taxable value of your home was overestimated, creating a bigger property tax bill. And, the government might claim that you have underpaid your property taxes, while you think that you have paid the correct amount.

If you run into any issue with your Novi, Michigan property taxes, failing to handle it properly can result in anything from unnecessary inconvenience to large fines and tax penalties. However, with the help of a Novi, Michigan tax attorney, your chances of running into a property tax problem can be minimized.