Form 3214 Assessor Affidavit Regarding "uncapping" of Taxable Value - Michigan

What Is Form 3214?

This is a legal form that was released by the Michigan Department of Treasury - a government authority operating within Michigan. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 3214?
A: Form 3214 is the Assessor Affidavit Regarding "uncapping" of Taxable Value in Michigan.

Q: What is the purpose of Form 3214?
A: The purpose of Form 3214 is to inform the assessor about a change in ownership or transfer of property that may result in the uncapping of the taxable value.

Q: What is "uncapping" of taxable value?
A: "Uncapping" of taxable value refers to the removal of the limitations on how much the taxable value of a property can increase from year to year. This can happen when there is a transfer of ownership or certain other changes to the property.

Q: When should Form 3214 be filed?
A: Form 3214 should be filed within 45 days of the transfer of ownership or other qualifying event.

Q: Who should file Form 3214?
A: The new property owner or the person who acquired an interest in the property should file Form 3214.

Q: What happens if Form 3214 is not filed?
A: If Form 3214 is not filed, the taxable value of the property may remain capped, and the property owner may not benefit from any potential decrease in the taxable value.