Once equalized and approved by the STC your Assessed Value becomes the State Equalized Value (SEV) and this figure, along with Taxable Value, appears on your property tax bill. What is the difference between Assessed Value and Taxable Value? Assessed ValueĪssessed Value is defined by state law as 50% of the market value of the property as of December 31st of the preceding year. The Assessing Department follows the GPTA and State Tax Commission (STC) guidelines in order to determine taxable status, true cash value, assessed value, and taxable value for all real and personal property within Clinton Township.
The Assessing Department is responsible for the preparation of the annual Assessment Roll which is completed in accordance with the General Property Tax Act (GPTA).
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