How is the inflationary (CPI) increase calculated?
The Calculation of the Inflation Rate Multiplier is set in statute. MCL 211.34d states:
(l) "Inflation rate" means the ratio of the general price level for the state fiscal year ending in the calendar year immediately preceding the current year divided by the general price level for the state fiscal year ending in the calendar year before the year immediately preceding the current year.

(f) "General price level" means the annual average of the 12 monthly values for the United States consumer price index for all urban consumers as defined and officially reported by the United States department of labor, bureau of labor statistics.

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1. I'm a first time property owner. What important information do I need to know.
2. What is the difference between Assessed and Taxable and Capped Value?
3. How is the inflationary (CPI) increase calculated?
4. I keep hearing the phrase "Arms-Length Transaction". What does that mean?
5. I just bought a new house, will the Assessed Value be half of what I paid for it?
6. What is a Principal Residence Exemption?
7. How do forclosure / short sales affect the value of my home?
8. Do I have to let the Assessor in my home or on my property?