Equalization: Washtenaw Property Values Rise
After several years of reporting declining tax revenues, Raman Patel had good news for Washtenaw County commissioners: Stronger signs of economic recovery, reflected in a 1.68% increase in taxable value. Patel, director of the county’s equalization department, briefed commissioners on the 2013 equalization report at the board’s April 17, 2013 meeting. The board later unanimously approved a resolution accepting the report.
Equalized (assessed) value is used to calculate taxable value, which determines tax revenues for the county as well as its various municipalities and other entities that rely on taxpayer dollars, including schools, libraries and the Ann Arbor Transportation Authority, among others.
For 2013, taxable value in the county increased 1.68% to $14.2 billion. That’s an improvement over declines seen in recent … [Full Story]