Form L-4035a - Taxable Value Calculations Worksheet

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Michigan Department of Treasury, PTD
L-4035a
3128 (Rev. 1-02)
2002 TAXABLE VALUE
Petition No. ___________________
CALCULATIONS WORKSHEET
This form must be completed by the Board of Review (B of R) and made part of the Board of
Review Record whenever a change is made to an individual parcel of property which causes
Taxable Value to change.
Complete Section 1 if the B of R changes Capped Value.
SECTION 1
By Assessor
By B of R
2001 Final Taxable Value as set by Assessor, Board of Review or Michigan
Tax Tribunal (Enter number into column labeled "By Assessor.")
=
Amount of Losses
=
(See page 11 and 12 of STC Bulletin #3 of 1995 for formulas)
Amount of Additions
=
(See page 6 - 11 of STC Bulletin #3 of 1995 for formulas. IMPORTANT: See STC Bulletin No. 3 of 1997 for
changes to formulas for Replacement Construction and Occupancy Rate).
2002 Capped Value
= (2001 Taxable Value - Losses)
X 1.032
+ Additions
= ( _______________ - _______________) X _____________ + _____________
By B of R
=
2002 Capped Value
=
Complete Section 2 if the B of R changes Assessed Value.
By Assessor
By B of R
SECTION 2
2002 Assessed Value
=
2002 Tentative SEV
= 2002 Assessed Value X 2002 Tentative Equalization Factor
= _____________________
X
_____________________
= _____________________ by B of R
2002 Tentative SEV
= _____________________
2002 Tentative Taxable Value is the lesser of the 2002 Capped Value or the 2002 Tentative SEV.
2002 Tentative Taxable Value
= ______________________
Signature of Secretary, Board of Review
Date

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