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Michigan Department of Treasury
L-4035a
3128 (Rev. 11-13)
2014 Taxable Value Calculations Worksheet
Petition No. ___________________
Issued under authority of P.A. 206 of 1893. Filing is mandatory.
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
2013 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
change to formula for Replacement Construction).
2014 Capped Value
= (2013 Taxable Value - Losses)
X 1.016
+ Additions
= ( _______________ - _______________) X _____________ + _____________
=
By B of R
2014 Capped Value =
Complete Section 2 if the B of R changes Assessed Value.
SECTION 2
By Assessor
By B of R
=
2014 Assessed Value
2014 Tentative SEV
= 2014 Assessed Value X 2014 Tentative Equalization Factor
= _____________________
X
_____________________
= _____________________ By B of R
2014 Tentative SEV =
2014 Tentative Taxable Value is the lesser of the 2014 Capped Value or the 2014 Tentative SEV.
2014 Tentative Taxable Value
= ______________________
Signature of Secretary, Board of Review
Date