Personal property assessments can also be appealed at the March board of review. In the summer tax cycle, the tax levies of the City, Kent Intermediate School District, Grand Rapids Community College, the State of Michigan, and the respective public school district within which the property is located are approved by the elected board members. These taxing units primarily utilize their tax collections for the operating fiscal year that commences July 1st of the tax year being billed and continues through June 30 of the succeeding year. The State Education Tax is also levied in the summer tax cycle and the tax rate is authorized by the state treasurer. The Kent County Board of Commissioners approves the county tax rate to be levied for property tax bills which are levied December 1st of each year.
Taxable value becomes uncapped when property is sold or transferred.
The homestead exemption must be claimed on a form approved by the Michigan Department of Treasury, the most common being either form 2368 Affidavit for Homestead Exemption or form 2503 Homestead Exemption Update. The homestead exemption for your property will be included on your assessment notice expressed as a percentage. The homestead exemption percentage will also be displayed on your summer tax bill. Voted school bonded debt millages are NOT exempted. The credits available do not originate from the City.