Higgins Lake Real Estate Tax Assessments
Great News For Lakefront Property Owners At Higgins Lake
For the last 3 years I and many other people have been objecting to the property assessments being over valued. Assessments did not reflect the down turn in values around the lake. Assessments topped out at $7,100 per foot in Gerrish Township. In Gerrish Township, the assessor used a % ratio to reflect more value above $7,100 if the lot was above average in depth and very nice beach frontage. If the lot was shallow and the beach was not as nice it’s ratio was below 100%.
The good news is that Gerrish Township reduced the 2010 assessments on most waterfront parcels. I did a random samples of a few parcels and found that the low was $5,300 a front foot and the high was $5,975.
If you are selling your property OR considering selling this could make your property more desirable to buyer’s. Here’s why, Your SEV (State Equalized Value) is used as the new owners taxable value for determining the new owners taxes. In recent years many buyers were willing to make lakefront purchases, but when they became aware of what the new tax bill would be they would make lower offers reflecting the overall cost to own the property, or they just walked away from the table!
In Lyon Township 2010 SEV values are ranging from $3,400 along Sam-O-set Blvd. to $6,500 in section 15 which includes the Gold Coast north to the DRNE boat launch.
With listing inventory high, mortgage interest rates low and taxes going down I recommend buying during the 2010 season. For further information and transaction specific consulting please call me.
Information contained herein is not guaranteed and is subject to change without notice. Assessment information was taken from township assessment records.
« Elk Skegemog And Torch Lakes Real Estate | Home | Ausable River Homes And Cottages »
