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 at an average of 50% of its true cash value.
Role of the General Property Tax Act
The Act requires counties to have a department that surveys assessments and helps with equalization. This department supports local assessors by maintaining accurate property descriptions, discovering and valuing properties for taxes, and using uniform valuation standards.
The Equalization Department also calculates millage rollback fractions as required by laws like Headlee and Truth in Taxation. They compile all millage rates for local schools, colleges, townships, and libraries. This information is submitted to the County Board and the State Tax Commission for approval.
