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Personal Property Tax Statement
Personal Property Exemption Affidavit
Property Transfer Affidavit
The City Assessor appraises the personal and real property (commercial, industrial and residential) within City limits to reflect the True Cash Value (TCV). This is the base value used in determining the Assessed Value (50% of TCV). After Proposal A was passed a third value of property was created called the Taxable Value. The Taxable value, or the portion of the value of your home that we are permitted to collect taxes on is the lesser of the Assessed Value or Capped Value (the prior years' taxable value minus losses times the Consumer Price Index plus additions) unless a transfer of ownership has taken place. Taxable Value times the Millage rate is used to determine property taxes. Property tax dollars paid to the City of Albion funds essential public services, from police and fire protection to recreation department.
The main purpose of the Assessor's Office is to prepare an assessment roll by the Tuesday following the second Monday in March (per City Charter). This roll contains the owner's name and last known address, legal description, Assessed Value, Capped Value and Taxable Value for each parcel of real and personal property in the City. In Michigan, property is assessed at 50% of True Cash Value. The Board of Review signs the roll after hearing appeals and making decisions on from property owners.
For Current Year Tax Amount-Please contact the Finance Department.
For Previous Year Tax Amount-Please contact Calhoun County Treasurer's Office, County Building, Marshall.
Personal Property Tax Statement:
Personal property is property owned by an individual or business which is movable and is not affixed to or associated with the land. Basically, personal property is everything except real property. Personal property for a business would include equipment, office furniture and equipment, unlicensed cars/trucks purchased and used by the business, and, basically, everything that isn't "nailed down."
Personal Property Exemption Affidavit:
IMPORTANT INFORMATION: This affidavit will exempt property owned only by the entity filing the affidavit. If personal property is leased to or used by an entity other than the property’s owner, the owner of that personal property must file the affidavit for that property, not the lessee or the user. The owner may file the affidavit and claim the exemption only if the True Cash Value of all of the commercial or industrial personal property located within the city or township that is owned by, leased to, or in the possession of the owner or a related entity was less than $80,000 on December 31st of each tax year.
Property Transfer Affidavit:
If you purchase property by a deed or land contract, inherit property from a parent, or transfer property into a trust, new State law requires the new owner to file a Property Transfer Affidavit within 45 days of the transfer. This simple form asks for date, purchase price, buyer and seller names, and whether buyer and seller are related. This form helps provide current market data for sales studies. If the form is not submitted to the Assessing Office within the 45 days of transfer, a penalty of $200 may be billed to you.
The City of Albion has a written policy for granting partial hardship exemptions for persons who own and occupy a home, meet 110% of Federal poverty guidelines, and meet the requirements of the asset test. If you think you might qualify, please contact the Assessor's Office for and application and further information. The completed application and supporting documents must be given to the Assessor no later than the Thursday before the Board of Review meets in March, July or December.
The Assessor's Office provides a variety of useful information to property owners, newcomers, Realtors, financial institutions, title companies and appraisers.