Kent County       Ottawa County
To figure the amount of taxes for a home, locate the city or township and school district in the first column, of the table below. Move across to the "Total Homestead" column (if you will occupy the home) to find the millage rate.   Divide the asking price of the home by 2.  Take the number of thousands from that answer and multiply by the millage rate in the "Total Homestead" column.   This is the approximate and greatest possible amount for the annual property taxes.  It could be less, if the taxable value is less than the assessed value for a particular city or township, or if the home was purchased for less than the asking price.  For example, $200,000 asking price divided by 2 = $100,000.  Take 100(number of thousands) and multiply 100 times 27.6296(Total Homestead for Ada Township/Forest Hills Schools) to arrive at $2763 as the annual property taxes.  E-mail me if you have further questions.  More information can be found at the end of the tables below.

What Happens After You Purchase a Home As an Owner-Occupied Principal Residence

     In most cases, when you purchase a home, the assessed value (AV) and the taxable value (TV) are not the same amount.  The TV is the basis for applying the tax rate.  This is the value that affects homeowners the most.
     Almost a year after you purchase your home, the TV is "uncapped" and rises to equalize the AV.  The TV and AV remain the same for the first full year following the sale.
     In the following years, the TV can rise 5% or the Consumer Price Index (CPI), whichever is lower.  The assessor of the taxing authority can adjust the AV based upon improvements and neighborhood factors such as sales in the neighborhood.
     A homestead-owner occupied principal residence-is exempt from local school operating property taxes.  To receive an exemption, a homeowner must file an affidavit with the local municipality by May 1.  A property occupied after May 1 is not eligible for a homestead exemption until the following year, if a homestead exemption was not in effect for the previous owner
     A homeowner who is eligible for the exemption but fails to file an affidavit by May 1 can appeal to the local board of review in the year for which the exemption is claimed or in the immediate succeeding year.  This means that homeowners who discover that they were entitled to a homestead exemption in past years, but who failed to file for them, can receive the exemption only for the current year and one previous year, even if the property qualified as a homestead for additional years.