GRAND BLANC TWP. — Grand Blanc Township has had a robust couple of years in terms of new construction and home sales, and that has led to a remarkable increase in revenues for the township, schools and county.
“You have a very active market, something a lot of communities would probably be very jealous of,” said assessor Dulcee Ranta.
The most recent two-year analysis of sales records showed that the township saw a 4.6 percent increase in taxable values. The increase comes from both new builds and the uncapping of taxable values that follows property sales.
“You’ve had enough transactions that have had uncappings, and new construction, that you’ve seen a 4.6 percent increase (in taxable values),” Ranta told the township board of trustees last week. “It shows you have a lot of growth. You’re a very progressive community. It’s very exciting. You have a lot of positive things going forward.”
The township has more than 14,000 parcels.
Of those, the greatest value is in the residential sector, which has an assessed value of $1.2 billion, Ranta said.
Assessed value is 50 percent of true cash value.
The commercial sector shows $409 million in assessed value, and the industrial sector $57 million. The township has another $97 million in the assessed value of personal property.
“Your residential is your primary funding source,” Ranta said.
She also noted that the assessing department spends a lot of time educating home buyers about the uncapping, which is a product of Proposal A, a law that voters approved in 1994.
“Prop A capped the taxable value (of homes) while you own the property,” she said. “What we’re seeing, one generation later, is we’re doing a lot of re-educating of new homeowners. They’re not being educated at the time of purchase that their taxable value is going to be uncapped due to Prop A. We spend a lot of time having the conversations with the taxpayers, explaining the uncapping.”
Supervisor Scott Bennett said the township keeps only 17 percent of the tax revenues it collects. The rest is forwarded to other taxing units, including the school districts and Genesee County.
“We fund more than half the county in terms of their budget,” Bennett said.