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Equalized value up 6.32% for 2025; officials explain why tax bills may not rise as much
Summary
Equalization director Tim Vandermark reported a 6.32% countywide SEV increase for 2025, with class-by-class changes; he explained taxable value and veterans exemptions mean taxable bills will not mirror SEV growth, and commissioners pressed for clarity on impacts to residents.
Tim Vandermark, the property and equalization director, told the committee Eaton County’s State Equalized Value rose 6.32% for 2025 and gave class-level breakdowns: agriculture +8.75%, residential +6.85%, commercial +3.40% and total countywide value of about $6.75 billion. "For 2025, we're showing 6.32% increase in SEV," Vandermark said.
Commissioners asked whether that means property-tax bills are rising by the same percentage; Vandermark explained taxable value is capped by the inflation measure used for the Headlee/assessment limitations and that veterans' exemptions reduce taxable value for properties with qualifying disabled-veteran claims. He said about $53,000,000 in SEV goes to veterans exemptions and taxable-value growth was roughly 8% for the portion discussed, clarifying why apparent SEV growth does not directly equal tax-bill increases.
Board members also raised questions about the effect of solar farms on agricultural valuations and whether the SEV figure is a snapshot or forecast; Vandermark said the SEV is a current-year appraisal figure not a forecast and that solar farm sales are generally not used in appraisal comparables. The committee voted to recommend sending the SEV values to the full board for final action.
