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Inflation Impacts Property Taxes With Highest Increase Since 2007
/in Detroit, Grand Rapids, Northern Michigan, SE Michigan, Western Michigan /by Tracy WillisMichigan homeowners can expect to see bigger than normal increases in their summer property tax bills. Thanks to this year’s inflation, many need to prepare for even bigger hikes next year. The inflation rate adjustment for this year’s property taxes is 3.3%, the highest it has been in 15 years. The rate is the maximum increase in taxable value that can apply this year to Michigan homes that haven’t changed ownership or seen additions to the property. The multiplier hasn’t been over 3% since 2007. Inflation’s impact on food and gas prices are obvious to consumers, but its impact on property taxes can be unexpected and somewhat hidden.
Sugar Loaf Demolition Completed But Cloaked in Mystery
/in Northern Michigan /by Tracy WillisSpeculation among community residents runs rampant as the new owners of the blighted Sugar Loaf ski lodge complex make good on their promise. A fence rims the demolition site that is now the staging area for work crews who are crushing the remaining asphalt and making topsoil runs up to the top of what was once the ski hill. Residents are curious about what’s next, but anyone who is in the know isn’t talking. The property was purchased in late 2021 by SPV 45 LLC who said it would remove the blighted buildings and clean up the property. A real estate advisor for the owners recently attended the annual meeting for townhouse owners who asked many questions. Unfortunately, they didn’t get any answers about the future.
Charlevoix Mansion Garners High Price Tag
/in Northern Michigan /by Tracy WillisA Charlevoix mansion has sold for the enormous price of $9.845 million dollars. According to Interluxe, a luxury real estate marketplace, that price tag is the 5th highest resale price ever for a residential property in Michigan. The lakefront home at 08425 Raspberry Lane in Charlevoix drew more than $205 million in total bids over four days. The 10,000 square foot home designed by J Bradley Moore & Associates Architects for Frank Macher. It was built in 2009.