As residents receive their change in assessment notice for 2010, they will more than likely notice a reduced assessment in their residential property value.
‘This year the rate of inflation is actually deflationary,? said Dave Hieber, manager of the Oakland County Equalization Division. ‘All residents will see a reduction in taxes except for those who have done new construction, and/or have bought a property and there is an uncapping situation where they’re subject to that popup tax.?
Hieber said residential property values are dropping by 15.50 percent. Meanwhile, Independence is going down by 16.37 percent, Springfield 15.28 percent, and the City of the Village of Clarkston, 16.06.
‘They are all around the counties average,? he said. “We’re not going to be in a situation like we were last year where values went down and taxes still went up at 4.4 percent because that’s what the inflation rate was. It’s a little better for the taxpayer I guess, but worse for local government trying to provide services.”
The county has 8,846 foreclosures. Of those, Independence accounted for 195, Springfield 87, and Clarkston, 9. Independence sold 335 properties, Springfield, 166, and Clarkston, 18, Hieber noted.
‘It appears from what the realtors are telling me we are exhausting our supply of foreclosures. We certainly still have a lot of them, but as we exhaust that supply it drives up the real house sales,? said Independence Township Assessor Beverly Shaver. ‘We’ll get more of those and hopefully at little higher prices too because then they’re not competing with that foreclosure price.?
The county’s estimates as far as drop in taxable for 2010 are both Independence and Springfield between 12.25 and 13.25 and Clarkston between 8-9 percent.
‘I think we’re still going to have another year in 2011 values that we’re going to see further reductions,? Hieber said. ‘To what level, I don’t know yet, we still see a price falling at a county wide basis. I don’t know where the bottom is.?
Shaver said Independence Township’s board of review will be announced when residents get their assessment change notice, which she is hoping to mail out the third week in Feb.
‘We’re talking about having the board of review those first two weeks in March,? she said.
Springfield Township is looking to mail their assessment notices on Feb. 26 and hold the review on March 9-11 and 15-17.
Clarkston City Manager Dennis Ritter said the dates for the county March Board of review will be available, when residents receive their assessment notices, those interested in seeing the board or review can call the city office to schedule it.