To: Board of County Commissioners
From: Mellissa K. Hayduk, Equalization Director
title
RE: 2024 Genesee County Equalization Report
recommendation
BOARD ACTION REQUESTED:
Approval of the 2024 Genesee County Equalization Report. After approval, the Resolution authorizes and directs the Chairperson, the Clerk of the BOC, and the County Equalization Director to sign the 2024 Michigan Department of Treasury forms (L-4024) for and on behalf of Genesee County. This form will then be submitted for State Equalization. *****ROLL CALL VOTE REQUESTED*****
BACKGROUND:
The Equalization Department serves as a liaison between the County Board of Commissioners (BOC), the State Tax Commission, the local units of government, and the public. The County Equalization Department annually advises and assists the BOC in determining the true cash value of the County and equalizing the property tax assessments on a countywide basis.
The Equalization process is vital to guaranteeing that properties are assessed at 50% of market value as is required by Article IX, Section 3 of the Michigan Constitution of 1963. County Equalization serves as a check on assessments determined at the local level, ensuring they are fair and equitable across the County.
The equalization process also sets the property tax base for the county and helps to ensure that property taxes are levied in a fair and equitable manner.
Each year, under guidelines established by the State Tax Commission, the Equalization Department works with township and city assessors to assure proper equalized values for real and personal property throughout the county.
The Equalization Department's main purpose is to correct the inequities that may occur between local units of government as a result of under or over assessment of a property class. The Equalization Department does not determine individual assessments, that is the sole responsibility of the local assessor. The equalization process is a...
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