

| Grant Township, Cheboygan County, Michigan www.granttwp.com |
| Why are your taxes going up while your home value is going down? Leonard Page, Cheboygan County Commissioner Explains the Headlee Amendment |
| Many homeowners are understandably upset when they get their property tax bills. They know that their property values are going down and can't understand why their property taxes are going up. It goes back to the Headlee Amendment to the Michigan Constitution adopted by the voters in 1978. Proposition A (as it is also called) capped tax increases in a given year to the lesser of the rate of inflation or 5%. When you buy or build your house your taxable value (TV) and your State Equalized Value (SEV - which is supposed to be 50% of market value) should be the same. However, as time goes by in a robust economy, the SEV tends to become larger than the TV as property values rise while the TV increases are capped. But what happens when property values go down while inflation steadily rises - like now? Even though your property value (SEV) has fallen, after years of disproportionately rising above the TV, it is more than likely still higher than your TV. As long as your TV is less than your SEV, the Headlee Amendment demands that your TV - your taxes - go up by the rate of inflation or 5%, whichever less. (This year's rate eventually matches your SEV again, you will not be taxed more than your house is worth (your still going up and may save you the time of demanding an explanation at a local Board of |

| The Cheboygan County website also has a video explanation of the problem. Click on this link and when you get to the County website, on the left, immediately under "Special Interests", is the link to the video. |