In all fairness, Grand Rapids, MI, homeowners won’t be clawing at the walls for a way out of this, but it’s good to know that the GR property tax rate will indeed dip just a bit based on the proposed budget for the new fiscal year beginning this July. You’d think that would be a good thing — funny, that real estate can be fickle and unexpected at times, especially in our great city of Grand Rapids, but the fact is this:
Some landowners actually might have to pay more!
Why Will the Lower GR Property Tax Rate Do That?
The fact is there are some landowners out there that paid more in taxes due to the GR property tax rate increasing from last year. Because of that, city property taxes for the everyday GR homeowner might go up by just over 9 bucks this year, and here’s why:
- Keep a Close Eye on the Millage Rate, for One Thing — Why is that? What does the millage rate have to do with anything? Quite a bit, actually.
- Property Value Differences Matter Year-to-Year — We wouldn’t be having this discussion if property values stayed the same each and every year. Let’s just put it that way.
- Focus Not on the GR Property Tax Rate, But the GR Property Value — There’s a big difference. Check out why, right here.
- There Will Be More to That GR Property Tax Rate Than We Think…. — Think schools, the county, public transit and other tax entities. So expect to pay more in property taxes even if the rate itself dipped just a bit.
Yes, It Sounds Crazy — Like Euchre Does to a Southerner
Bowers this, bowers that. Crazy card game. Real estate, though, isn’t that much different, but with Grand Rapids Property Values helping you along the way, you just might master this strategy of strategic financial planning based on property values in Grand Rapids, Michigan.
Know what you could be facing down the road. And you’ll be better prepared for the future.
The post 4 Reasons Why the Lower GR Property Tax Rate Will Cost Homeowners so Much More appeared first on Grand Rapids Property Values.