![]() ![]() There are several factors that affect your tax rate:ġ. The year following an eligible transfer of ownership, the SEV of the transferred property set in that year is its Taxable Value. The Capped Value is then compared to the SEV of that property, and the lower of the two will be its Taxable Value upon which taxes are levied. Assessors are required to annually calculate a Capped Value for each individual parcel of real property. The legislature has defined Taxable Value to be the lesser of SEV or Capped Value. Prior Taxable Value - Taxable Value of Losses * Lesser of 5% or CPI Multiplier + Taxable Value of Additions = Capped ValueĬPI is the Consumer's Price Index (Inflation rate) as calculated by the State of Michigan each fall. The first step in the process of determining Taxable Value is to calculate the Capped Value of every parcel of assessable property using the following formula: ![]() Franchise affiliates also benefit from an association with the venerable Sotheby's auction house, established in 1744.The term Taxable Value was used in the 1994 constitutional amendment known as Proposal A to replace SEV in the property tax equation to calculate property tax bills. ![]() Sotheby's International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. The agreement provided for the licensing of the Sotheby's International Realty name and the development of a full franchise system. In February 2004, Realogy entered into a long-term strategic alliance with Sotheby's, the operator of the auction house. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. Sotheby's International Realty Affiliates LLC is a subsidiary of Realogy Holdings Corp. About Sotheby’s International Realty Affiliates LLCįounded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby's International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. ![]()
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