Time to Buy from the DLBA, Detroit Property Values Rising

Time to Buy from the DLBA, Detroit Property Values Rising

Property values are rising in Detroit, and not just downtown. Values are up in 90% of the city's neighborhoods. While property values jumped 12% in 2018, most Detroiters will only see a 1% tax increase according to Mayor Mike Duggan's Office.

“These new numbers represent a historic shift for our neighborhoods, which for nearly two decades had seen only a decline in home values,” said Mayor Duggan. “This shows that the work we are doing to remove blight, improve parks and revitalize commercial districts in our neighborhoods is paying off.”

Data from the City Assessor's Office shows residential properties gained more than $400 million in value in 2018 compared to the previous year. In 2017, values rose 5% citywide. Before that, residential property values fell for 17 straight years, including a nearly $1 billion drop from 2013 to 2014.

Important tips from the City:

How to appeal your proposed assessment

All property owners have the right under state law to appeal their proposed assessment. Additionally, the City of Detroit offers property owners an informal opportunity to appeal their property value. The Assessors Review appeal process will take place between February 1th and February 15th in Room 804 of the Coleman A. Young Municipal Center, 2 Woodward Ave., Detroit, MI. The March Board of Review, the second step in the review process, begins March 6th and ends March 23rd in Room 1208 of the Coleman A. Young Municipal Center. Anyone with questions or wishing to challenge their assessments can email the Assessor’s office at Assessorreview@Detroitmi.gov. Residential Property Owners must begin the appeals process at the Assessors Review. Commercial, Industrial, and Personal Property owners may, if they chose, proceed directly to the Michigan Tax Tribunal. The deadline to appeal directly to the Michigan Tax Tribunal is May 31.

Help Available

The City of Detroit is taking a proactive approach to helping homeowners avoid the threat of tax foreclosure. The Assessor’s Office will be mailing applications for the Homeowners Property Tax Assistance Program to all Detroiters who are delinquent on their 2018 property taxes to determine whether they qualify for tax relief. Detroit’s property tax exemption for low-income households can reduce or eliminate property taxes on homes, depending on the occupants’ income levels and the number of people living in the home. Homeowners who have questions about the Homeowners Property Tax Assistance Program or wish to receive an application may call the Office of the Assessor at 313-224-3035 or the Detroit Board of Review at 313-628-0723. The application also is available on the City’s website.