REVALUTION YEAR 2020
Associated Appraisal Consultants conducted 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 generally 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 took the form of an Interim Market Update, meaning that the assessor did not physically inspect the majority of the properties in the Township, but rather used the existing property records as a basis for the physical attributes of each property. The assessor did, however, physically inspect properties with recent new construction or remodeling.
Notices of assessment have been distributed now that the property reviews are complete and new assessed values were determined for each property. Property owners will have an opportunity to discuss the assessed values with an Associated Appraisal representative at any time between now and 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 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 did not mean their taxes increased 30%! Some went up a bit and some went down. Think of the values as the pie—the pie increases in size (value) but the price (total taxes) are collected for the whole pie. For the Town of Holland, on average, the the assessed value did increase about 40%.
Open Book: While the Open Book is "scheduled" for Wednesday, September 1 beginning at noon at the Holland Town Hall, due to COVID-19, Associated Appraisal requests residents to attend open book via phone or email. Contact Associated Appraisal at 920-749-1995.
BOR is scheduled for Tuesday, September 22 beginning at 4:00 p.m. Notice: link
Interim Market Update
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)
Final BOR Meeting: 9/22/20 minutes
Link to Information About Assessments