State Law requires a Property Transfer Affidavit to be filed whenever real estate is transferred (even if you are not recording a deed). The General Property Tax Act provides for a penalty to be imposed if this form is not filed.
A transfer of ownership would occur if a land contract is signed, the owner of a property passes away and they have a trust or joint tenancy established, etc. Please contact the Assessing Department if you have any questions regarding a transfer of ownership. A Property Transfer Affidavit is required to be filed within 45 days of the transfer of ownership, if not, the City of Madison Heights levies a fine of $5 per day to a maximum of $200 for residential properties or a $25 per day to a maximum of $1,000 for commercial/industrial properties for failure to file this form. If you close through a real estate agent or attorney, this should be supplied to you. The Assessor's Department can supply you with this form if needed, or download the form here.
Property Transfer Affidavit (PDF)
In the year following a transfer, the taxable value of a property uncaps and matches the new state equalized/assessed value of the property. This action can result in a dramatic change in annual property taxes depending on how long a property has been capped and the rate of property appreciation not measured in the overall inflation rate.
Also, homeowners who legally transfer their property into a trust must file a Property Transfer Affidavit or risk having their Taxable Value uncapped. The uncapping of the taxable value may cause an increase in property taxes. Mail or bring in the completed form to:
City of Madison Heights
300 W Thirteen Mile Road
Madison Heights, MI 48071