Bridgeport Township Board of Review Schedule - 2010

Understanding your assessment in a declining market: http://www.saginawcounty.com/Docs/Equal/2009%20Assessment%20Information.pdf

Do you qualify for a Poverty Exemption from your property taxes? Click here to find out.

Here is the Application for Property Tax Hardship Exemption.

The Assessing Department is responsible for identifying and valuing all taxable real and personal property within the Charter Township of Bridgeport in accordance with Michigan’s General Property Tax Laws.  

Additionally, the Assessing Department maintains property record information for every parcel of property within Bridgeport Township including legal descriptions and physical improvements to parcels including commercial, industrial and residential buildings, and accessory structures. 

The department also maintains taxpayer record information, received in various formats, such as Deeds, Property Transfer Affidavits, Homeowner’s Principal Residence Exemption Affidavits and other related forms.

Property Tax Information

Since the passage of Proposal “A” on March 15, 1994, several legislative changes have occurred affecting property values and taxes.

Prior to 1995, taxes were calculated on State Equalized Value.  State Equalized Value must approximate 50% of Market Value.

Beginning in 1995, property taxes are calculated on Taxable Value, which is subject to a Capped Value.  The Capped Value is calculated by taking the prior year’s Taxable Value, minus any losses to the property, multiplied by the Cap (which is the lesser of either the Consumer Price Index or 5%), plus any new additions to the property.  This Calculation is called the Capped Value.  This Capped Value is then compared to the State Equalized Value and the Taxable Value becomes the lesser of the two values, unless a transfer of ownership occurred in the prior year.

If a transfer of ownership occurred in the prior year, then the Capped Value no longer applies and the Taxable Value becomes the new State Equalized Value.

There are two types of property taxes levied in the State of Michigan, Homeowner’s Principal Residence (formerly know as Homestead) and Non-Homestead.

 The formula for calculating taxes is:  Taxable Value x Millage Rate = Taxes  A sample calculation based on the current millage rate for a Principal Residence is illustrated below for your assistance in understanding how property tax bills are calculated.

EXAMPLE:  Assume the Taxable Value of your Principal Residence property is $100,000 and the millage rate is 23.9353.  Your tax bill would be calculated as follows:

$100,000 x .0239353 = $2,393.53

 Please remember that the Assessing Department does not compute or collect property taxes.  This example is only intended to provide a simple explanation of the process.  For a more detailed explanation, you should contact the Treasurer’s Office.

HOMEOWNER'S PRINCIPAL RESIDENCE AND QUALIFIED

AGRICULTURAL EXEMPTIONS 

The status day to qualify for the Principal Residence Exemption (formerly known as the Homestead Exemption) or Qualified Agricultural Exemption is May 1st of the current year. 

When purchasing new construction, you must own and occupy your home, as your principal residence, as of May 1st to qualify for an exemption of the 18 mill school operation millage.  To claim the principal residence exemption, you are required to file the Homeowner’s Principal Residence Exemption Affidavit, with the Assessing Department by May 1st.  If you purchase a previously owned home, in which the prior owner qualified for the exemption as of January 1st of the current year, you will receive the benefit of that exemption even if you occupy after May 1st.  But, you are still required to file the Homeowner’s Principal Residence Exemption Affidavit after you occupy the home as your principal residence.  You are only entitled to one Principal Residence Exemption.

For more information on eligibility to receive a Principal Residence Exemption and other related information, please refer to the Michigan Department of Treasury’s Principal Residence Guidelines Booklet of questions and answers click here >>>

New Construction:  Only the value of the new construction is added to taxes. Decks are assessed even if they are not attached to the home. A room addition or new garage to your home will not "uncap" the taxable value. Square footage costs vary depending on size of the building, foundation type, story height and quality of construction. The value of new construction is based on its percent of completion as of December 31st for the following tax year.

Assessing Office Hours:  Monday, Tuesday and Thursdays from 8:00 am - 5:00 pm.

(989) 777-0940 ext 213