What is a "Board of Review"?

A "Board of Review" is indeed a local board that plays a crucial role in the property tax system by hearing appeals regarding property assessments. When property owners believe that their property has been assessed incorrectly, they can appeal to the Board of Review for a reassessment. This board is typically composed of local residents who have knowledge of the community and the real estate market, thereby ensuring that assessments reflect fair market values.

The appeal process allows property owners to present their case, provide evidence, and potentially receive a reduction in their property tax assessment if the board finds merit in their claim. This mechanism is essential in maintaining transparency and fairness in local taxation, as it provides a formal avenue for property owners to contest their assessments and seek a resolution.

Understanding the function of the Board of Review is vital for anyone involved in Michigan's property tax administration, as it directly impacts how property values are determined and how tax revenues are generated at the local level.