Soon you will be receiving "Notice of Assessment, Taxable Valuation, and Property Classification.
It's a good idea to check the statement every year to make sure the homestead exemption is still in place. Many property owners in the State of Michigan who qualify for the homestead exemption do not claim the exemption.
To claim the exemption you must own and occupy the property as your primary residence. A form must be filed with the local municipality. The form is called Principal Residence Exemption (PRE).
If you believe the Assessed Value is more than half of the value of your property you may appeal the Assessed and/or Taxable Value at the March Board of Review. If you are planning to appeal your property taxes make sure to call the local municipality soon to get an appointment.
Keep in mind if recent improvements were made to your property such as adding a bathroom or finishing the lower level of your home will add value and the property taxes may go up on your home.
For more information please visit https://www.oakgov.com/mgtbud/equal/Pages/how_do_i/pp_qa.aspx