Those things really aren't applicable in Michigan. Every assessor in the state uses the same computer software to figure State Equalized Value. All of the physical attributes of a parcel are entered in the computer,and it sets the assessment. There are things built in to the program so that the value of something like outbuildings would be less in a poor rural area than in a wealthy suburb. ECF,which stands for Economic Condition Factors are specific to locations,but the base rates and values are based in the program. They can also depreciate buildings to bring down value. There are different classes of houses that tie in to deprecation to some extent,but is also tied to construction type and other condition factors. Mineral rights,productivity of ag land,none of those things factor in.
Actual increases or decreases in land values are set every year based on sales within the township or if necessary,nearby townships,over an 18 month period that ended 6 months prior to the assessing year. It's complicated. There are manuals as thick as the Sears Christmas catalog that instruct assessors on this stuff,so there's no short simple answer to it. One thing that our instructions tell us in bold type and underlines is that it's "highly illegal" to assess an individual parcel based on what that parcel sold for. It's State EQUALIZED Value,based on averages of similar property.
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Today's Featured Article - Show Coverage: Journey to Ankeny - by Cindy Ladage. We left Illinois on the first day of July and headed north and west for Ankeny, Iowa. Minus two kids, we traveled light with only the youngest in tow. As long as a pool was at the end of our destination she was easy to please unlike the other two who have a multitude of requirements to travel with mom and dad. Amana Colonies served as a respite where we ate a family style lunch that sustained us with more food than could reasonably fit into our ample physiques. The show at Ankeny
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