128 Spring St YPSILANTI_MTT ET Petition (final).pdf
Angstrom Capital Holdings LLC Petitioner Vs. City Of Ypsilanti Respondent · 26-002123-TT
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STATE OF MICHIGAN GRETCHEN WHITMER DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS MARLON I. BROWN, DPA GOVERNOR LANSING DIRECTOR Angstrom Capital Holdings LLC , MICHIGAN TAX TRIBUNAL Petitioner(s) \Y MTT Docket No. City of Ypsilanti , Respondent(s) ENTIRE TRIBUNAL PROPERTY TAX PETITION 1. Property Parcel No: 11-11-09-490-001 (If more than one parcel is at issue, attach a completed Multiple Parcel Petition Form addressing all other parcels at issue.) 2. The property identified above is x__real ___ personal. 3. If more than one parcel of real property is under appeal, are the properties contiguous? ___Yes ___ No. (If no, separate Petitions are required for each non- contiguous parcel.) 4. Are all of the parcels of personal property located on a parcel of real property under appeal? ___Yes ___ No. (If no, separate Petitions are required for each parcel of personal property not located on a parcel of real property under appeal.) 5. If parcels of personal property are under appeal, when were the personal property statements filed by parcel number (attach additional page if necessary): N/A 6. The property identified above is classified as industrial 7. If the assessment or assessments at issue were protested, the protest was made to Respondent's March July December Board of Review. Not applicable, as this classification of property is not required to go before local Board of Review. MICHIGAN TAX TRIBUNAL - 611 W. OTTAWA ST., LANSING, MI 48933 - 517-335-9760 PO BOX 30232, LANSING, MI 48909 - Other Carriers: 2407 N. GRAND RIVER AVE., LANSING, MI 48906
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MTT Docket No. Page 2 of 4 10. 11. 12. 13. 14. If a protest was required and no protest was made, list the separate and specific facts upon which Petitioner relies to invoke the Tribunal’s authority over the assessment or assessments at issue (attach additional page if necessary): N/A If the appeal was not submitted by the deadline for the filing of an appeal for the classification or classifications of the properties at issue (i.e., May 31 or July 31 of the tax year involved), list the separate and specific facts upon which Petitioner relies to invoke the Tribunal’s authority over the assessment or assessments at issue (attach additional page if necessary): N/A The property or properties at issue are located in Washtenaw County. The property or properties’ address is: 128 Spring St., YPSILANTI, MI 48198 The assessment or assessments at issue were established by the (applicable local governmental unit): City of Ypsilanti Petitioner's legal residence or principal office address is: 25330 Telegraph Road Suite 600 Southfield, MI 48033 This appeal involves issues relating to the (check all that are applicable): x the property or properties’ true cash and taxable values the property or properties’ taxable value only If the property or properties’ taxable value is at issue, is there a dispute as to the value of an addition orloss? ___ Yes __ No uniformity of the property or properties’ assessment the property or the properties’ exemption from ad valorem taxation under MCL The tax year(s) at issue are: 2026
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MTT Docket No. Page 3 of 4 15. If more than the current tax year is being appealed, list the separate and specific facts upon which Petitioner relies to invoke the Tribunal's authority over the prior tax year or years (attach additional page if necessary): N/A 16. The values for the property identified above as established by Respondent's Board of Review are: Tax Year True Cash Value Assessed Value Taxable Value 2026 $5,766,200 $2,883,100 $959,988 17. Petitioner contends that the values for the property identified above are: Tax Year True Cash Value State Equalized Value Taxable Value 2026 $4,400,000 $2,200,000 $860,000 18. The values in dispute for the property identified above are: Tax Year True Cash Value State Equalized Value Taxable Value 2026 $1,366,200 $683,100 $99,998 19. Petitioner requests the following relief (attach additional page if necessary): that the Tribunal reduce (i) the true cash value to $4,400,000, (ii) the assessed value to $2,200,000, and (iii) the taxable value to $860,000. 20. List the separate and specific facts upon which Petitioner relies to support the relief requested (attach additional page if necessary): The assessed value established by the Board of Review materially overstates the true cash value of the subject property and must be reduced to reflect market reality. The subject commercial building has been continuously vacant for approximately fifteen (15) years. This prolonged vacancy is not a temporary or cyclical condition, but instead is a permanent market signal that the assessor has failed to adequately weigh. Please see the attached Notice of Assessment.
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MTT Docket No. Page 4 of 4 Signagure of DES Authorized Representative or, if none, Petitioner: Aeg Printed Name of Petitioner's Authorized Representative or, if none, Petitioner: Gregory J. Wolenberg, Esq. Email Address: gwolenberg@kotzsangster.com Mailing Address: Kotz Sangster Wysocki-P.C. 36700 Woodward Ave; Suite 202 Bloomfield Hills Ml-48304 BHOOHHeIG HSV + Telephone Number: 248-646-1050 Date: 6/1/26
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Michigan Department of Treasury, THIS IS NOT A TAX BILL L-4400 1019 (Rev 10-25) Notice of Assessment, Taxable Valuation, and Property Classification 50 This form 1s issued under the authority of Public Act 206 of 1893, Sec 211.24¢ and Sec.211.34c, as amended. This is a model assessment notice to be used by the local assessor. FROM PARCEL IDENTIFICATION 734-483-7117 PARCEL NUMBER: 11-11-09-490-001 py all PROPERTY ADDRESS: : . 128 SPRING ST YPSILANTI, MI 48197 YPSILANTI, MI 48197 SCHOOL DISTRICT CODE: 81020 OWNER'S NAME AND ADDRESS/PERSON NAMED ON ASSESSMENT ROLL EXEMPTIONS 9591 % Exempt As "Homeowners Principal Residence" 0% wan RRAUTORS FOR AADC ABO Tle #1 KHH % Exempt As "Qualified Agricultural Property™: 0% ANGSTROM CAPITAL HOLDINGS, LLC - 1 2000 TOWN CTR STE 1100 % Bxemptis MBY nduckialBersonarsy 0% SOUTHFIELD, MI 48075-1251 % Exempt As "MBT Commercial Personal: 0% (RETR UTR WT LT UR UT ET TUT I TT Exempt As "Disabled Veteran or [JYes [X No Surviving Spouse™ Exempt As "Qualified Forest Property" [J Yes [X] No Exempt As "Development Property": [Yes [X] No LEGAL DESCRIPTION: *OLD SID - 11 11-020-200-00 YC 1E-186A COM AT SE COR OF SEC 9, TH S 0-59-10 E 212.55 FT TO POB, TH 181.46 FT INARC OF CURVERAD 12, 873.25 FT, CHORD N 86-19-38 E 181.46 FT, TH N 89-56-21 E 67.04 FT, TH N 50-3-39 W 234.22 FT, TH W'LY 252.81 ACCORDING TO MCL 211.34c THIS PROPERTY IS CLASSIFIED AS: 301 Industrial PRIOR YEAR'S CLASSIFICATION 301 Industrial The change in taxable value will increase/decrease CHANGE FROM your tax bill for the 2026 year by approximately: $2062 EAR wm AMOUNT YEAR oo PRIOR YEAR TO 1. TAXABLE VALUE: 934,750 959,988 25,238 2. ASSESSED VALUE: 2,703,400 2,883,100 179,700 3. TENTATIVE EQUALIZATION FACTOR: 1.000 4. STATE EQUALIZED VALUE (SEV): 2,703,400 2,883,100 179,700 5. WAS THERE A TRANSFER OF OWNERSHIP IN 2025 THAT RESULTED IN A TAXABLE VALUE UNCAPPING? [Yes No 6. Assessor Change Reason(s): Market Adjustment 7 The 2026 Inflation rate Multiplier is: 1.027 » Q Questions reaarding the Notice of Assessment, Taxable Valuatinn, and Propdrly Classification may hagirected to the Following: Name: Telephone Number: Email Address COURTNEY BORDEN (734) 483-7117 CBORDEN@CITYOFYPSILANTI.COM March Board of Review Appeal Information. The Board of Review will meet at the following dates and times: APPEALS WILL BE HEARD BEFORE THE BOARD OF REVIEW MARCH 10TH 3:00 PM TO 9:00 PM, MARCH 11TH 9:00 AM TO 4:30 PM AND MARCH 12TH 9:00 AM TO 4:30 PM. PLEASE CALL THE ASSESSING OFFICE TO SCHEDULE AN APPOINTMENT (734) 483-7117. APPEALS MAY ALSO BE SUBMITTED IN WRITING AND MUST INCLUDE A BOARD OF REVIEW PETITION, ALL WRITTEN APPEALS MUST BE RECIEVED NO LATER THAN MARCH 12TH AT 3:00 PM, POST MARK WILL NOT BE ACCEPTED.