The Practical Effect of Michigan Supreme Court’s Decision in the case of Klooster v City of Charlevoix
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Uncapping of Property Taxes Makes it to Michigan Supreme Court
March 30th, 2010
The Michigan General Property Tax Act (the Act) requires real property in Michigan be assessed yearly and taxed at one-half (1/2) of its true cash value (true cash value is the same as market value). However, with the passage of the Headlee Amendment to the Michigan Constitution in 1994, limitations were placed on how much assessments and taxes could go up each year.