New to Michigan law

[hidye36]

i purchased a home in forclosure in macomb county michigan. the house needed a lot of work . the last time the home was sold was in 2001 for 275000. fully furnished. I paid in 2004 220000 forclosure the bank was asking 234000. now the county is telling us that we paid to little and the house is now worth 289000.. this house is not worth that much maybe 240 or 250 but you can buy a home NEW in our sub for 289 that has 2400 sq feet we have 1800 with a built in pool which leaked last year.... Is the tax based on the purchase price or what the county thinks its worth? please help
Upset in Clinton Township Michigan...

[elklaw]

I am not familiar with Michigan's valuation process for property tax purposes, but it souunds like the assessment is made based on the present value. What you need to do is challenge the assessed value of the property. Most counties have a process to go thru. Contact the county assessor and tell them you want to challenge the valuation and ask how you do that. It sometimes takes a year, attending a hearing, getting your own appraisal and assesment, but it can be rewarding should you get the valuation reduced, thus your property tax bill.