***CORRECTION: The headline on an earlier version of this story incorrectly attributed the average property tax increase to a hike in the rate, not higher property values. We regret this error, which has since been corrected.***
GRAND RAPIDS, Mich. (WOOD) — Property owners in the city of Grand Rapids will get a chance to add their two cents to the formula calculating their property taxes for next year.
A public hearing has been scheduled for 7:30 p.m. May 14 in the ninth floor city commission chambers.
The average tax bill is set to increase $20 next year because of higher property values. Under the proposed 2019-2020 rates, property owners who own a home with a taxable value of $54,251 (the average for a home in Grand Rapids) will pay $482.89. Last year’s average taxable value was $51,520, carrying a tax bill of $462.19.
The city commission is set to vote on the new rates in late May.