How often are properties assessed in Michigan?

In Michigan, properties are assessed annually. This means that each year, local assessors evaluate the properties within their jurisdiction to determine their market value and ensure that property taxes are levied fairly based on current market conditions. This annual assessment process is crucial for maintaining accurate property tax records and ensuring that property owners are paying taxes reflective of their property's true value in the current market.

This yearly reassessment allows for adjustments due to shifts in the real estate market, renovations to properties, or changes in property ownership. Regular assessments are designed to keep the tax system equitable, so that no property owner is disproportionately burdened or receives an unfair advantage in terms of taxation.