Overview

Each year the Assessor's office reviews market activity in 26 residential economic areas (neighborhoods) within Ferndale's corporate limits.  Current assessments are analyzed in light of this activity and adjustments are made to maintain assessments that reflect approximately 50% of market value.  The process is duplicated for commercial and industrial properties.  The overall assessment process and activities of the assessor's office are described as follows:

• locate and identify all taxable property within the jurisdiction (both real & personal)
• make an inventory of all taxable property including quality, quantity and important characteristics
• estimate the market value for each taxable property
• calculate a taxable value and an assessed value for each property pursuant to statute or regulation
• prepare and certify the assessment roll for the entire jurisdiction
• notify owners of the taxable and assessed values of their properties
• defend value estimates during the appeal process

In addition the assessor's office is responsible for monitoring and detecting property transfers and homestead status changes.

Property Transfers

In the year following a transfer the taxable value of a property uncaps and matches the new state equalized/assessed value of the property.  This action can result in a dramatic change in annual property taxes depending on how long a property has been capped and the rate of property appreciation not measured in the overall inflation rate.  Form L-4260 Property Transfer Affidavit must be filed within 45 days of a transfer or a penalty of $5.00 per day (maximum $200.00) is imposed.

To view or print Form L-4260 Property Transfer Affidavit, see our Forms and Permits page in the Resource Center.

Homestead Status Changes

Homestead properties receive beneficial tax treatment because they do not pay school operating taxes.  A property must be owned and occupied as a principal residence to qualify as a homestead property.  Additionally a request for homestead exemption must be filed on form 2368 Homestead Exemption Affidavit (formerly T-1056).

To view or print Form 2368 Homestead Exemption Affidavit, see our Forms and Permits page in the Resource Center.

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The City of Ferndale, Michigan
300 East Nine Mile Road
Ferndale, Michigan  48220
(248) 546-2525
City Hall Hours:
Monday - Thursday 8:00am - 5:30pm
Closed Fridays