REVALUTION YEAR 2020
Associated Appraisal Consultants will be conducting a revaluation of all properties in the Town of Holland in 2020 for the purpose of updating all assessed values to reflect current market conditions. The last revaluation occurred in 2012.
Although assessments will generally be increased, the revaluation will have no impact on the total amount of property taxes collected. This is because the tax levy is determined separately and independently of assessed values. When assessments are increased, the tax rate is lowered if spending remains the same.
The 2020 revaluation will take the form of an Interim Market Update, meaning that the assessor will not be physically inspecting the majority of the properties in the Township, but rather using the existing property records as a basis for the physical attributes of each property. The assessor will, however, be physically inspecting properties with recent new construction or remodeling.
Notices of assessment will be distributed when the property reviews are complete and new assessed values are determined for each property. Property owners will have an opportunity to discuss the assessed values with an Associated Appraisal representative at the Open Book session. After the Open Book session, property owners will have the opportunity to appeal an assessment to the Board of Review. The Notices of Assessment will contain the dates and times of the Open Book and Board of Review meetings.
So, why is this revaluation being done?
As mentioned above, the last revaluation in Holland was completed in 2012. Since that time, sale prices have increased while assessments have remained the same. This results in a gap between assessed values and sale prices. The anticipated assessment ratio for the Township is 77% for 2019. The assessment ratio is calculated by taking the assessed value divided by the sale price. Since state law requires the ratio to be between 90% and 110%, the Township needed to take action.
Don’t panic when you get the revaluation!
As reported by a neighboring municipality, their values increased an average 30%. That does not mean your taxes will increase 30%! Think of the values as the pie—the pie increases in size (value) but the price (total taxes) are collected for the whole pie.
Board of Review (BOR) Notice: 1st meeting 6/10/20 no action link (adjourned due to the assessment roll not ready),
2nd meeting was held 7/8/20 (also adjourned)
BOR is now scheduled for Tuesday, September 22 beginning at 4:00 p.m.
Open Book: Residents are encouraged to attend the Open Book if you have questions or concerns, which is scheduled for Wednesday, September 1 beginning at noon. Appointments are highly encouraged by calling Associated Appraisal at 1-800-721-4157
Link to Information About Assessments