Quote Originally Posted by swingline View Post

In the most expensive neighborhoods, Proposal A [[1995) locked in under-assessments which persist to the present. All of those Palmer Woods and Indian Village homes on the market in the past year for $500K have SEV's [[supposed to be 1/2 market value) and Taxable Values of less than $150K.
I'm pretty sure this is a misunderstanding of Proposal A. Proposal A doesn't affect SEV, it affects taxable value, which is capped by SEV. If the SEVs are too low, it is because of misassessment, not Prop A.

See, for example, the definitions in http://www.michigan.gov/taxtrib/0,16...6336--,00.html