Legal Requirements
According to Section 211.34 of the General Property Tax Act in Michigan, the county board of commissioners must review the assessment rolls of townships and cities each year. They ensure that real and personal property is assessed equally and uniformly at 50% of its true cash value.
Role of the General Property Tax Act
The Act requires counties to have a department to help with assessment surveys and equalization. This department supports local assessors by maintaining accurate property records, discovering and valuing properties for taxes, and using standard valuation methods.
The Equalization Department also calculates necessary millage rollback fractions for all taxing bodies, including schools, colleges, the county, and libraries. After this, they compile the millage to be levied and submit a report to the County Board and the State Tax Commission for approval.
