Wayne County property values continue to rise to near-historic levels
WAYNE COUNTY, Mich. (CBS DETROIT) - Property tax values in Wayne County have continued to rise and were up 9.85% in 2022.
According to Wayne County commissioners, in a report released Thursday during its annual equalization meeting, property values in Wayne County are reaching historic levels, as they have continued to increase for the past 16 years.
The equalized value represents all 43 county communities, and the county's tax value is now $72.3 million. This is an increase of just under $6.5 million.
This is the county's first equalization report since the COVID-19 pandemic began.
"There was a feeling that there would be a deep dive in values as a result of COVID, but that didn't happen," commission Chair Alisha Bell (D-Detroit) said. "This report is good news, but it also indicates that there are issues that remain."
Property tax bills will increase by 5% based on the home's taxable value. According to the report, this increase is the maximum allowed per state law. If there were no maximum, the property tax bills would have increased by 7.9%, based on inflation.
In addition, the report shows that increases were unevenly distributed among communities throughout Wayne County.
Northville, Plymouth and Plymouth Township experienced an increase in property value, while Ecorse, Harper Woods, Highland Park and River Rouge experienced a decline in property tax values.