We got our Notice of Assessment, Taxable Valueation, and Property Classification in the mail today from the city. This document is sent out to notify people if there is a change in the Taxable value of their home. Our notice for 2009 has some good news and some bad news.
The good news is that our taxable value rate went down.
The bad news is that our taxable value rate went down.
In Michigan the taxable value of your home is not necessarily the actual value of your home, or if you just purchased your home it is most likely not going to be what you paid for the home. There are two factors involved with calculating your taxable value. The first is the State Equalized Value of your home. By law this number must be approximately 50% of the true cash value of your home. The taxable value of your home may be less if the SEV went up by more then the rate of inflation.
This can also mean that the taxable value of your home may increase even if the cash value of your home decreases. This would be able to happen if your home has a large gap in the cash value and its taxable value. If the cash value of your home was to decrease but still be higher then the taxable value with an inflation increase then your taxes would go up even when the cash value of your home went down.
Now, once a house changes hands the taxable value is automatically raised to the cash value of the home. This is the case with our house. We have owned it for a little over 4 years so the SEV and Taxable value have been almost always in sync. For 2009 our SEV and Taxable Value are the same because the actual cash value of our home decreased.
This means that we’ll pay less in property taxes, but also means that our house has lost value. At this point the principal balance of our mortgage is just about equal with what the state says the cash value of our home is.
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Theresa brought home a pizza for lunch on Sunday. It was infested with a tumor.
Thanks to Redbox I’ve been getting free movie rentals on Mondays. They send out a text message that is good for a one day rental only on that day. I don’t even get the text messages. I visit Inside Redbox to see the text codes. You can also follow @InsideRedbox on Twitter to get the codes and other info.
I’m not sure what I’ll get today, it is a toss up between City of Ember and Pineapple Express.
Maybe he watched too much of Dominik Hasek last season…
Once Barack Obama took office the WhiteHouse.gov site changed dramatically. This is truly the first technology driven president. I was looking around and came across the Technology Agenda page and was please to see the bit regarding network neutrality.
Ensure the Full and Free Exchange of Ideas through an Open Internet and Diverse Media Outlets
* Protect the Openness of the Internet: Support the principle of network neutrality to preserve the benefits of open competition on the Internet.
* Encourage Diversity in Media Ownership: Encourage diversity in the ownership of broadcast media, promote the development of new media outlets for expression of diverse viewpoints, and clarify the public interest obligations of broadcasters who occupy the nation’s spectrum.
* Protect Our Children While Preserving the First Amendment: Give parents the tools and information they need to control what their children see on television and the Internet in ways fully consistent with the First Amendment. Support tough penalties, increase enforcement resources and forensic tools for law enforcement, and encourage collaboration between law enforcement and the private sector to identify and prosecute people who try to exploit children online.
* Safeguard our Right to Privacy: Strengthen privacy protections for the digital age and harness the power of technology to hold government and business accountable for violations of personal privacy.
via Technology.
