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I'm looking for an accountant in Michigan as soon as

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I'm looking for an accountant...
I'm looking for an accountant in Michigan as soon as possible
Submitted: 9 months ago.Category: Finance
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Answered in 9 hours by:
8/5/2017
Financial Professional: taxmanrog, Certified Public Accountant (CPA) replied 9 months ago
taxmanrog
taxmanrog, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 1,067
Experience: Licensed CPA, MA, MST with 31 years' experience. Teach Accounting and Tax courses at Masters level.
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Welcome to Just Answer! Thank you for giving me the opportunity to assist you! I will do my best to help!

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Financial Professional: taxmanrog, Certified Public Accountant (CPA) replied 9 months ago

What is your question? I am in Illinois, but I have several clients in MI and I am familiar with MI individual and business taxation. I would be happy to assist you.

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Customer reply replied 9 months ago
Good morning,
I would like to know how they assess the value of a land in Michigan. I have many properties so I would like the value of the land without the house or the construction. I need to need just the land value without the house, in other words, I know the value of the house but I need to know the value of the land itself.
Financial Professional: taxmanrog, Certified Public Accountant (CPA) replied 9 months ago

I just saw your post, and I am heading to take my son to urgent aid - he burned his hand.

If it is OK I Will answer this tomorrow. I do have an answer, as I just looked at this a few months ago when trying to fight a tax bill in MI.

Thanks!

Roger

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Financial Professional: taxmanrog, Certified Public Accountant (CPA) replied 9 months ago

Can you tell me where your properties are located? I just appealed assessments in Escanaba and Grand Rapids.

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Customer reply replied 9 months ago
In fact, we have a lot of properties in Wayne counties. We just want to know if there is a way we can assess the value just of the land of those properties.
Customer reply replied 9 months ago
Can I have an update about my answer?
Financial Professional: taxmanrog, Certified Public Accountant (CPA) replied 9 months ago

Sorry, my grandmother passed away and I have been away. The funeral is tomorrow, so I logged in today to catch up on things.

I called a couple of contacts in MI, and even called the Wayne County treasurer. They all told me that the local assessor was the person who made the ultimate decision. However, they all told me that the local assessor is supposed to place the value of the land and of the building independently. The land is to be valued at the price of comparable vacant land in the area, and the building is also to be assessed at comparable values. The issue with that, I was told, is that 1) if the land needs to have a building or structure removed, the cost of removal would reduce the value of the land, yet the assessor does not take that into account, and 2) the value of the building is not reflective of the replacement cost of the building. If the building is in an area of old or dilapidated buildings, the condition of the particular structure may or may not reflect the actual value.

I tried to find out if there was a specific formula to determine values based on a fixed point in time, or a fixed location. I was told that there is no such formula, that each local assessor uses his or her best judgement based on experience and the comparable properties in the area.

I hope this answers your question. IF you have any more, or wish to be more specific or directed (i.e., you would like me to contact the specific local assessor, which I will be happy to do) please let me know.

Thanks! Have a great weekend!

Roger

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Experience: Licensed CPA, MA, MST with 31 years' experience. Teach Accounting and Tax courses at Masters level.

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