How often are property assessments typically conducted in Michigan?

In Michigan, property assessments are typically conducted every year or, at minimum, every two years. This regular assessment schedule is crucial for maintaining accurate property tax valuations, which reflect the current market conditions and property values. Annual assessments allow tax officials to adjust property values based on changes in the real estate market, new construction, or modifications to existing properties. This practice helps ensure that property taxes are fair and equitable, aligning with the actual value of the properties.

By conducting assessments at this frequency, the state can ensure that property owners are taxed appropriately according to the most recent data available, rather than relying on outdated assessments that may no longer reflect current property values. This approach facilitates accountability and transparency in the property taxation system, benefiting both taxpayers and local government finance.