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LIVONIA TAXES AND SEV; OM THE RISE? OR ANOTHER CON?
Topic Started: Mar 4 2012, 09:49 AM (700 Views)
watchdog
Advanced Member
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How many received increases in their SEV this year, including an UP in their taxes? Would appreciate any advice from those successful in fighting the Board of Review...information needed to be gathered, how to go about it, etc.


Whoops! I meant to say "On The Rise" in my subject title .. don't know how to fix that.
Edited by watchdog, Mar 4 2012, 09:53 AM.
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Justasking
Advanced Member
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Got ours last week. No change in SEV or "Taxable Value".

Side note - Refinanced last week as well. Appraisal came in almost exactly at SEV. Makes me think either:
1. SEV is accurate
2. Appraiser didn't want to have to justify going above or below SEV
3. Mtg Co "influenced" the decision.

My bet is on #2 or 3.

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Otis B.
Veteran
Our SEV went down again -- but not enough. I will be appealing it and will report back on what I encounter.

Considering that home values in Livonia as a whole went down almost 5% last year, I would be highly suspicious of an SEV going up at all. Sounds like Jack is already raising funds for his downtown scheme.
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watchdog
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Otis B.
Mar 4 2012, 02:23 PM
Our SEV went down again -- but not enough. I will be appealing it and will report back on what I encounter.

Considering that home values in Livonia as a whole went down almost 5% last year, I would be highly suspicious of an SEV going up at all. Sounds like Jack is already raising funds for his downtown scheme.
I am very suspicious and mad! This does not make sense at all. Can you offer any suggestions on what information I need to gather for an appeal and also how I go about gathering the info? Do I need to pay for and present an actual appraisal, etc. etc.?

Thanks in advance for everyone's help!
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Ava
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So what? Who cares?
watchdog
Mar 4 2012, 07:24 PM
Otis B.
Mar 4 2012, 02:23 PM
Our SEV went down again -- but not enough. I will be appealing it and will report back on what I encounter.

Considering that home values in Livonia as a whole went down almost 5% last year, I would be highly suspicious of an SEV going up at all. Sounds like Jack is already raising funds for his downtown scheme.
I am very suspicious and mad! This does not make sense at all. Can you offer any suggestions on what information I need to gather for an appeal and also how I go about gathering the info? Do I need to pay for and present an actual appraisal, etc. etc.?

Thanks in advance for everyone's help!
Ours went down again. I have heard you need to bring comps for similar homes that sold in your area to make your case. Maybe a realtor would be helpful?
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Otis B.
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Zillow is a good place to start. Enter your address and you can pull up nearby homes that sold recently.
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Ava
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So what? Who cares?
Otis B.
Mar 4 2012, 10:09 PM
Zillow is a good place to start. Enter your address and you can pull up nearby homes that sold recently.
even better!
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injuneer
Advanced Member
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Assessments are not across the board in a large city like ours. our neighborhood increased in value and some of our friends in other parts of town went down. Assessments are based on many factors but they are not specifically looking at each individual house and coming up with an exact value so they can run high or low.

if you want to go to the board of review you should at least bring comps recently sold in the area and be prepared to explain why those homes are worth consideration toward the value of your home. The best way to get your assessment altered though is to go get an appraisal of your home. If your house is truly valued too high on the assessment then a couple hundred bucks for an appraisal can be worth it. If you arent that confident about the value of your home to get an appriasal than maybe the assessment isnt really all that bad.
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Otis B.
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injuneer
Mar 6 2012, 10:14 AM
Assessments are not across the board in a large city like ours. our neighborhood increased in value and some of our friends in other parts of town went down. Assessments are based on many factors but they are not specifically looking at each individual house and coming up with an exact value so they can run high or low.

if you want to go to the board of review you should at least bring comps recently sold in the area and be prepared to explain why those homes are worth consideration toward the value of your home. The best way to get your assessment altered though is to go get an appraisal of your home. If your house is truly valued too high on the assessment then a couple hundred bucks for an appraisal can be worth it. If you arent that confident about the value of your home to get an appriasal than maybe the assessment isnt really all that bad.


Are you basing your area's increase on the SEV or appraisals?

I'm not doubting the values went up, just wondering what it's based on. And I think your appraisal recommendation is spot on.
Edited by Otis B., Mar 6 2012, 11:27 AM.
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Justasking
Advanced Member
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My two cents:

Do the math first. What do you realistically think your home is worth?
Example:
City says SEV is 90k, which means market is 180k, and taxes are at $2,970 a year (assuming 33 mils, which I think is correct for Livonia in LPS)
You think it is only worth 150k at best. So SEV would be 75k and taxes would fall by $495.

Is it worth spending money on an appraisal and your time, to get a hundred or two in savings? The appraisal will be $300-400, and your time is worth something. You might get told "sorry, we are right and you are wrong" and lose all the time and money you put in.

The city can bump you right back up again next year. I guess my point is that unless you feel you are over assessed by a huge amount, or you can show comps without spending the cash on an appraisal, it might not be worth the investment and effort.

I think there is a process to appeal at the state level, if you don't like the local decision, but I don't know that that entails.
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Vanna White
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I have gone through the process to get my SEV reduced and took it all the way to the MI Tax Tribunal, as the municipal assessor simply would not listen to reason. I prevailed and was able to get paid back 2 years worth of overpaid taxes with interest. This was several years ago and it was in Redford Twp rather than Livonia, but it is possible to prevail if you are willing to spend the time.

I did not have a professional appraisal, but I did have very strong comps that were in my same exact complex, same exact unit (it was a condo.) Back then I had to get this info without the benefit of the internet...it is so much easier now! If you have good comps, particularly same model home same neighborhood if possible, perhaps you do not need to bother with an appraisal...
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injuneer
Advanced Member
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Otis B.
Mar 6 2012, 11:26 AM
Are you basing your area's increase on the SEV or appraisals?

I'm not doubting the values went up, just wondering what it's based on. And I think your appraisal recommendation is spot on.
SEV and prices of recently sold homes in the neighborhood.

Using an appraisal to appeal an assessment isnt for everyone but it can make a very strong case if you have enough to gain in tax savings. When everyone else walks into an appeal with a couple real estate ads and a zillow print out the person who walks in with a good presentation and an independent appraisal on their property stands out.

If you are using comps make sure you can explain what makes those homes the same as yours or what things are different that would make those prices more or less than your home is worth.
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