Whenever real estate or some type of personal property is transferred, the new owner must file a Property Transfer Affidavit with the Assessor within 45 days of the transfer under authority of P.A. 415 of 1994. It is used by the Assessor to ensure the property is assessed properly and receives the correct taxable value. If it is not filed timely, a penalty of $5/day (maximum $200) applies.
The Assessing Department wants all new or potential home buyers to fully understand the uncapping process of Proposal A. The year following your purchase of a new home, the taxable value from which the seller has been paying their taxes will "uncap" and become the same as the new Assessed Value, becoming your new base from which your taxes will be calculated. For an estimate of your potential new tax liability, please contact the Assessor's office at 1-248-796-5230.
For the Property Transfer Affidavit and Instructions (pdf)