Taxes

It is Board of Review time again, and citizens across the state are headed in to appeal their property taxes. If they read the Freep today, the might be left with the impression that they are destined to be overtaxed. Yes, it does seem ironic that taxable values/SEV’s went up last year by 3.7%, the [...]

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This came in my email today. I searched high and low (on Google) to find the source of the article, but I cannot. I would have linked to it if I had found it.
I’ve spoken before about the problems with Proposal A. As a matter of fact, I think I have ranted [...]

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Josh Plummer, my favorite guy at Flagstar Bank, does a great job of keeping me up on the latest in the world of mortgages. He does it without making me yawn, which is a compliment, of course. Plummer recently put me on notice about a change in the law that makes PMI (Private [...]

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Yesterday Brian Dickerson put out a very good piece about property taxes in the Freep. Long story short, Brian is right. Proposal A needs to be shelved. The sooner the better. But I will get to my question for Brian shortly. My first order of business is to highlight the [...]

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Over the next week we will be putting copies of HUD’s in the mail for our clients who bought or sold a home in 2006. We are not tax advisors (duh!) but there can be taxable consequences from buying or selling a home. So be on the look out, and if your HUD [...]

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OK, its not the most user friendly document, but the information is all there. The 2005 millage rates for all of the property tax jurisdictions in Oakland County. The county has not published the 2006 rates on its web page yet, but when they do, we’ll get them up.
Written by Maureen FrancisSKBK Sotheby’s International Realty, [...]

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First time homeowners and transferees to Michigan have lots of questions about how their property taxes will be calculated after they buy the home. We’ve posted a property tax estimator before, and it does a nifty job and crunching numbers. Today we found an excellent article on how taxes are calculated on the Oakland County [...]

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April 15th (or 17th this year) is right around the corner and taxes are on many people’s minds. Recently a client and I were discussing the tax implications of selling a primary residence. Of course, I am not a CPA, and the advice of a tax professional should be sought. But this IRS publication is [...]

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Oakland County property tax assessments were mailed out this week. Its very important that you review the assessment notice, as you have narrow time frame to contest it if you feel that it is improperly assessed. Your taxes for 2006 will be based upon taxable value.
If you bought your home in the last 12 months, [...]

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I look forward to just about everything about spring. Except paying our income taxes.
For those of you who sold a principal residence in 2005, this article may help you understand the tax implications of your home sale.
Written by Maureen FrancisSKBK Sotheby’s International Realty, 248.430.4450
Visit WebsiteSearch for homes in Oakland County

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We are just finishing compiling a list of millage rates for 2005 for all of the municipalities in Oakland County. It should be posted on our web site early next week. Once we are done, we will let you know, so check back, or sign up for our email notifications at the bottom of the [...]

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