Date:
May 02, 2024
9:00 am-1:00 pm
Location:
Administration Building
12220 Fillmore Street, West Olive, MI
This course will provide valuable information to assessors, local treasurers, and school business officials. It begins with a series of flow charts showing the property tax assessment and collection processes. The course then details the calculation of SEV and taxable value. The course itemizes the different millages levied by local school districts and ISDs. The presentation details the calculation of Headlee millage rollbacks and explains the terms used in the calculation. The course reviews Form L-4028 and L-4028 IC. It then reviews how to fill out Form L-4029. The course explains the requirements of Truth-in-Taxation and its alternative, Truth-in-Budgeting. The first half of the course concludes with a review of the many tax abatement/specific tax programs in Michigan, an explanation of the renaissance zone program, and an introduction to tax increment financing.
File 1