The SEV, determined by local assessors, aims to reflect 50% of a property's market value (True Cash Value) for tax purposes and is adjusted annually. In Michigan, the State Equalized Value (SEV) and an appraisal of property serve distinct purposes and are calculated differently. This should not be confused with an Appraisal. True Cash Value: Is calculated as twice the State Equalized Value. Taxable value increases from year to year by the rate of inflation or 5%, whichever is lower. Multiplying the taxable value by the local millage rate will determine your tax liability. Taxable Value: A property's taxable value is the value used for determining the property owner's tax liability. SEV is the assessed value, as adjusted by State and County Equalization multipliers. It is used to calculate the taxable value of the property. SEV is not the amount the city bases your taxes on. It is 50% of the cash value or market value of the property. State Equalized Value (SEV): A value assigned to a property by the local city or township assessor. Principle Residence Exemption (PRE): Exempts a residence from the tax levied by a local school district for school operating purposes. Always consult the deed or a surveyor for actual acreage. This is an estimated size intended for reference purposes only and may not accurately reflect the exact size of parcel. We hope this tool empowers you with the information you need to explore, understand, and make informed decisions about land and property in Van Buren County.Įstimated Size: Is calculated based on the parcel as mapped in the county's computer mapping system. Thank you for visiting the Van Buren County Interactive Map Portal. We encourage users to contact us with suggestions, questions, or comments to help us improve the interactive map and better serve the Van Buren County community. Regular updates and maintenance ensure the accuracy and reliability of the information provided. We are committed to ensuring our platform is accessible to all users and continuously updated to reflect the latest data and technological advancements. Advanced search functionalities allow for quick retrieval of specific parcel information, owner details, or geographical features. Users can zoom, pan, and switch between different data layers for a customized viewing experience. Our interactive map is equipped with user-friendly tools designed to make navigation, search, and data visualization straightforward and efficient.
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