Annual Meeting (Assessor’s Report)

Leland Township

Event Date: 2024-03-30

Summarized with ai model: claude-3-haiku-20240307

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Executive Summary:

Assessment and Taxation
– The General Property Tax Act of 1893 provides the legal framework for property assessment and taxation.
– The 2024 assessment roll was certified and delivered to the March Board of Review on March 5, 2024.
– The March Board of Review met on March 11-12, 2024 and certified the assessment roll.

2024 Assessment Statistics
– Total Tentative Assessed Value of Real Property for 2024: $1,162,359,700
– Total Tentative Taxable Value of Real Property for 2024: $640,922,430
– Residential class Assessed Value increased approximately 22% from 2023.
– 829 parcels had a Principal Residence Exemption in 2024 vs. 816 in 2023.
– The 2024 statewide Inflation Rate Multiplier was 1.05.

Leelanau County Equalization Ratios and Multipliers
– Report attached with Tentative Equalization Ratios and Estimated CEV Multipliers for each township and the City.

https://www.michigan.gov/taxes/property-taxes/assessing-and-equalization/state-tax-commission

Internal document reference #:2431

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