MI SB0373

Requires assessors to send property owners notice by first-class mail of increases in tentative state equalized valuation or taxable value for the year.

Notice must begin with "NOTICE OF CHANGE IN TAXABLE AND ASSESSED VALUE OF YOUR PROPERTY AND INFORMATION REGARDING YOUR APPEAL RIGHTS" in the largest point type and specify each parcel, current year tentative taxable value, prior year taxable value, board of review meeting time and place, and appeal process information.

Notice must include state equalized valuation for prior year, tentative state equalized valuation for current year, net change between valuations, property classification, inflation rate, and a state tax commission statement explaining the relationship between state equalized valuation and taxable value.

Assessment notice must be mailed at least 10 days before the board of review meeting and addressed to the property owner according to assessor records; failure to send or receive notice does not invalidate the assessment roll.

Notice must include a statement that property purchasers of principal residences after May 1 must file an affidavit before May 1 to claim the principal residence exemption, and for taxes levied after December 31, 2003, must separately state valuations for any leasehold improvements.