Sales Study

In the State of Michigan, Assessors must inventory and list all property within the assessment jurisdiction. Assessors must assess all taxable property at 50% True Cash Value (market value). For all real property valuation, the process begins with the cost approach. The cost approach utilizes the State Tax Commission issued Assessors manual to estimate the cost of constructing improvements to the land.

To adjust the calculated cost approach to the local market value annually, the Assessor must obtain, review, and analyze sales data throughout the assessing jurisdiction. Valid Arm’s Length transactions for property type and geographical areas determine if the areas will increase or decrease in value on an annual basis to meet the required 50% true cash value.

A two year sales study is used to analyze the local market conditions. A two year sales study period example: For the 2024 valuation year, the sales study period is from 4/1/2021 to 3/31/2023.

The following sales data includes all the Valid Arm’s Length transactions used for the 2018, 2019, 2020, 2021, 2022, 2023 and 2024 assessment years. Also included are all the sales transactions for each of those years, valid and invalid sales.