26-001499_SuttonsBayExchange_v_BinghamTownship_Petition.pdf

Suttons Bay Exchange LLC Petitioner Vs. Township Of Bingham Respondent · 26-001499-TT

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MTT Docket No. 26-001499 

STATE OF MICHIGAN 

MICHIGAN TAX TRIBUNAL 

SUTTONS BAY EXCHANGE LLC, 

Petitioner. 

AD 

MTT Docket No. 26-001499 

BINGHAM TOWNSHIP, 

Respondent. 

ENTIRE TRIBUNAL PROPERTY TAX PETITION 

1. Property Parcel No: 45-001-181-015-00 (Unit 15, Bay View Pines Condominium, L881/P564, 1.56A) 

2. The property identified above is: Real property. 

3. If more than one parcel of real property is under appeal, are the properties contiguous? Not 

applicable — single parcel. 

4. Are all parcels of personal property located on a parcel of real property under appeal? Not 

applicable. 

5. If parcels of personal property are under appeal, personal property statement filing dates: Not 

applicable. 

6. The property identified above is classified as: Residential. 

7. If the assessment was protested, the protest was made to Respondent's: March Board of Review. 

8. If a protest was required and none was made, facts relied upon: Not applicable — Petitioner timely 

protested to the March 2026 Board of Review. 

9. If the appeal was not submitted by the statutory deadline, facts relied upon: Not applicable — this 

appeal is timely filed. 

10. County and property address: Leelanau County. 5566 S Spyglass Ridge Dr., Suttons Bay, M1 

49682. 

11. The assessment at issue was established by: Bingham Township. 

12. Petitioner's legal residence or principal office address: 5775 Pinecrest Estates Dr., Ann Arbor, MI 

48105. 

13. This appeal involves issues relating to: The property's true cash and taxable values. 

14. The tax year(s) at issue: 2026. 

Page 

1 of 3

MTT Docket No. 26-001499 

15. If more than the current tax year is being appealed, facts relied upon: Not applicable — only tax 

vear 2026 is at issue. 

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 

$2,459,800 

$1,229,900 

$1,229,900 

17. Petitioner contends that the values for the property identified above are: 

Tax Year 

[True Cash Value 

tate Equalized Value 

Taxable Value 

026 

2,222,760 

$1,111,380 

$1,111,380 

18. The values in dispute for the property identified above are: 

[Tax Year 

True Cash Value 

State Equalized Value 

Taxable Value 

2026 

$237,040 

$118,520 

$118,520 

19. Petitioner requests the following relief: 

Petitioner requests that the Tribunal reduce the 2026 True Cash Value, State Equalized Value, and 

Taxable Value of the subject property to $2,222,760, $1,111,380, and $1,111,380, respectively, consistent 

with the documented arm's-length purchase price, and order a refund of any resulting tax overpayment 

together with statutory interest. 

20. Facts relied upon in support of the relief requested: 

a. Petitioner purchased the subject real property on November 7, 2025, for $2,222,760, in an arm's-length 

transaction between unrelated parties. 

b. This sale price and date are documented in the Property Transfer Affidavit (Form 2766) filed with the 

Bingham Township assessor, attached hereto as Exhibit A. 

c. A recent, voluntary, arm's-length sale price is highly probative and directly relevant evidence of a 

property's true cash value under MCL 211.27(1). 

d. Respondent's Board of Review assessed the property at $1,229,900, implying a true cash value of 

$2,459,800 — which exceeds the documented sale price by $237,040, more than 10% — without 

articulated justification. 

e. Petitioner timely protested to the March 2026 Board of Review and submitted the Property Transfer 

Affidavit as supporting evidence. The Board of Review denied the requested relief, stating only that there 

was "not enough evidence to support the change" requested, without identifying what additional evidence 

would be required. See Petitioner's Board of Review Petition and the Board of Review's Denial, attached 

hereto as Exhibits B and C. 

f. Petitioner requests that the Tribunal find the true cash value, state equalized value, and taxable value of 

the subject property consistent with the documented arm's-length purchase price and the totality of the 

evidence to be presented. 

Page 2 of 3

MTT Docket No. 26-001499 

certify that, to the best of my knowledge, information, and belief formed after reasonable inquiry, the 

statements made in this Petition are true, and that this Petition is not interposed for any improper purpose. 

00) With i, 

Signature of Petitioner's Authorized Representative 

Printed Name: Todd Watkins, Member, Suttons Bay Exchange LLC 

Mailing Address: 5775 Pinecrest Estates Dr., Ann Arbor, MI 48105 

Telephone Number: 

SO 2\L 2310 

Email Address: “latins @ wotlins WoL Lon 

Date: 

ze l202(0 

Page 3 of 3

MTT Docket No. 26-001499 

STATE OF MICHIGAN 

MICHIGAN TAX TRIBUNAL 

Suttons Bay Exchange LLC v. Bingham Township 

MTT Docket No. 26-001499 

EXHIBIT A 

Property Transfer Affidavit (Form 2766) 

Page 

1 of 3

Michigan Department of Treasury - 2788 (Rev. 03-38) 

i 

L-4260 

Property Transfer Affidayit 

The form 10 lasued under authorty of PA. 410 of 1984, Fling 

ls mendetory, 

Tis form must be fled whenever real estate or some types of personal property are iraneferred (even If you ere not 

wcording 

8 teed). The completed Affidavit must be filed by the new owner with the sesessor for the 

or 

wemehip where the property 1s located (Within 48 days of the transfer. The information on this form fe 

CONFIDENTIAL 

| 

1. Sweat Address 

of Property 

2. County 

3. Ole of Transfer (or land contract signed) 

| 

$508 S Spyglass Ridge Or. 

Leelanau 

November 

7, 2026 

© Loostion of Real Eutate (Check appropriate field and enter name In the space below.) 

8. Purchase 

Price of Resi Estate 

Oony 

© Township 

0 viage 

$2,222,700.00 

Bingham 

0. Seller's (Transferor) Name 

Wiliam T. Gutherie and Deborah R. Guthrie 

7. Property entication Number (PIN). ¥ you dont have a PIN, afiach legel description. 

8. Buyer's (Transferes) 

Name and Mefing Address 

BIL. Ts number ranges from 10 to 28 

] 

Includes 

Suttons Bay Exchange, 8 Michigen fimied febity 

IN royce 

bdo (a 

ven domes 

company 

8776 Pinecrest Estates Dr. 

\ 

B 

Ann Arbor, 

MI 48105 

45001-181-015-00 

: 

9. Buyer's (Transferee) 

Telephone Number 

~ 

1 

Wms 0-35 are aptionhl. However, by completing them you may awed further correspondence. 

0. Type of Transter. Tramafars chude, but are nit bred 15, deeds, land contracts, transfers Involving trusts or wis, certain longs 

leases and business interest. 

See Page 

2for fist. 

{0 wand Contract 

0 Losse 

| 

Deed 

DO other (specity) 

{11 Was property purchased from a financial 

insitution?] 12. Is the transfer between related persons? 

13. Amount of Down Payment 

| 

Ove 

HE No 

O ves 

Hl No 

$1,222,760.00 

14. you financed the purchase, did you pay 

rate of interest? 

15. Amount Financed (Borrowed) 

a Yes 

One 

| 

$1,000,000.00 

Certain transfers are exsmpt from un 

It 

believe 

transfer 

qualifies for an exemption, 

pleass indicate the 

of exemption 

To 

Ft a 

Hower bopper 

you Chl 

Ld 

[0 Transfer 

from one spouse to the 

spouse. 

J Change 

in ownership solely to 

or include 

a spouse. 

Transfer between certain family memtlers “(see page 2). Describe relationship from each Transferor to each Transferse, attach additional 

page 

If necessary. Seller Name: 

} 

Buyer Name: 

Relationship 

of Buyer to Seller. 

ao Transfer of that portion of a property s 

to a fife lease or life estate (until the Ife lease or fe estate expires). 

a Transfer between certain familly members of that portion of @ property after the expiration or termination of a Wfe estate or Me lease 

Describe relationship from each Transferor to each Transferee, attach additional page 

if necessary. 

H 

Buyer Name: 

[J Transfer to effect the foreclosure or forfeiture of real propery. 

o Transfer by redemption from 

a tax sale. 

[1 Transfer into 

8 trust where the settior br the settior's spouse conveys property to the trust and Is aiso the sole beneficiary of the trust. 

a Transfer resulting from 8 court order uhless the order specifies @ monetary payment. 

[J Transfer 

cresting or ending 8 joint 

fat least one person is an original owner of the property (or his/her spouse). 

ao Transfer to establish or reieass 8 

Interest (collateral). 

'm] Transfer of real estate through normal public trading of stock. 

o Transfer between entities under 

control or among members of an affliated group. 

[J Transfer resutting from fransactions 

qQuallfy 8s a tax-free reorganization under Section 388 of the intemal Revenue Code. 

[1 Transfer 

of quailfied agricultural 

when the property remains qualified agricultural property and affidavit has been fled. 

[3 Transfer of qualified forest property 

the property remains qualified forest property and affidavit has been filed. 

3 Transfer 

of jand with qusiified 

‘easement (land only - not Improvements). 

(J Other, as described In MCL 211.278, 

; 

(ON;1 owt 

éhét hw 

intormalion 

above Is rus and complete 19 110 bast of my knowecige. 

Printed Name 

Signature 

Date 

> 53% 

Maursisen A. Snabes, Corporate Exchange 

November 

7, 

Benvices 

{ hay 

ame and tide, if signer 1s other than the owned 

| Daytime Phos Number 

- 

E-mal 

[Sole Member 

22-54)-S220 

\

MTT Docket No. 26-001499 

STATE OF MICHIGAN 

MICHIGAN TAX TRIBUNAL 

Suttons Bay Exchange LLC v. Bingham Township 

MTT Docket No. 26-001499 

EXHIBIT B 

Petitioner's Board of Review Petition 

Page 2 of 3

wr 

en Sor 

Petition to Board of Review 

L4025 

 esued under the suthorty of PA. 208 of 1893, 88 amended. FAing 1s vohuntery; however, you may not 

fo the Michigen Tax Tribunal unéess 

protest 

the Board of Ren. 

DP 

ova 

o commerce ve, 

usta rot, or developments 001 You hey 

S99 

properly cosshoston to Pi Sue 

omen ures you rt Fretee 

10 he Board of Review 

TO BE COMPLETED BY OWNER OR OWNER'S AGENT 

[Owners Name (Please Print or Type) 

Peilioner's Name (If Other than Owner. Please Print or Type) 

| Suttons Bay Exchange LLC 

Todd Watkins 

| Township or Cy 

| County 

Year of Appest 

{Bingham Township 

| Leelanau 

2026 

The undersigned protests the assessed value and/or the tentative taxable value and/or the property classification sndior the quefified 

agricultural property exemption of the following described property: 

[Propeny \dentied (Parcel code required. Property address and legal description optional.) 

45-001-181-015-00 

Unit 15 Bay View Pines Condominium L881/P564 1.56 A 

$566 S Spyglass 

Ridge Dr 

Suttons 

Bay, Mi 49682 

Proeted tem: 

[| Assessed Value [i] Tentatve 

|] Taxable Status [ | Classification 

[| Quaiified Agricultural 

Taxable Value 

(exemption) 

Property Exemption 

| Complete this section for a request 

change the 

of Review must make their 

in accordance 

with Section 211.34c of the Michigan Compiled Laws. The Board of Review shall not be influenced by the effect that a particular classification has on 

that property's status as a homeowner's principal residence or qualified agricultural property.) 

Ciassiication of property on this year's assessment roll 

Classification 

should be (check one of the following): 

[0] mimber Cutover 

[0 tity (Personal Property Oniy) 

#20 sms 

has Gerd or changed he percentage of he exemption fom he 18 mil focal schoo operating tax for quaed agriculral proper 

March Board of Review. THE BOARD OF REVIEW HAS NO AUTHORITY TO CONSIDER ORACT UPON 

the owner may appeal 

this action to the 

YE exawnion FROM THE 18 SCHOOL OPERATING MILLS FOR HOMEOWNER'S PRINCIPAL RESIDENCE PROPERTIES.) 

Ps: 

¢s 

SS 

AREA 

0 

: 

Bls[2e | See UT B10 

V, Vo 

"TENS Nndresk Code an harop MU HRIOS

MTT Docket No. 26-001499 

STATE OF MICHIGAN 

MICHIGAN TAX TRIBUNAL 

Suttons Bay Exchange LLC v. Bingham Township 

MTT Docket No. 26-001499 

EXHIBIT C 

Board of Review Denial 

Page 3 of 3

03/09/2026 05:01 PM 

rt 

Trent of Tresmuay 

Petition to Board of Review 

Z 4 

L-4035 

This form is issued under the authority of P.A. 206 of 1893, as amended. Filing is voluntary, however you may not appeal to the Michigan Tax Tribunal or 

the State Tax Commission unless you first protest to the Board of Review 

TO BE COMPLETED BY OWNER OR OWNER'S AGENT 

Owner's Name (Please Print or Type) 

Petitioner's Name (if Other than Owner. Please Print or Type) 

SUTTONS BAY EXCHANGE LLC 

Township or City 

County 

BINGHAM TOWNSHIP 

LEELANAU COUNTY 

protests the assessed value and/or the tentative taxable value and/or the property classification and/or the qualified agricultural property exemption of 

The undersigned 

the following described property: 

Identified (Parcel code required. Property address & Toga Geson optional) 

= 

Bl 

1 

001-181-015-00 

Sn 

ARRES 

, 

DRL 

RH 

RIE Xr RU 

| 

; 

eo 8 

Bf 

UNIT 15 BAY VIEW PINES CONDOMINIUM L881/P564 

1.56 A 

Wr [ D3 

5566 S SPYGLASS RIDGE DR 

) 

Protested Item 

[J Assessed Value 

[J Tentative Taxable Value 

[J Classification 

0 Qualifed Agricultura 

or 

Property Exemption 

1. 

PROTEST OF ASSESSMENT 

(Complete this section for a protest of assessed value and/or tentative taxable value) 

Owner's Estimated True Cash Value 

Tentative Taxable Value 

Year 

{ 

1,229,900 

2026 

I 

"1,220,900 

227060 

2. 

PROTEST OF CLASSIFICATION 

| 

(Complete this section for a request to change the classification. The Board of Review must make their decision regarding classification in accordance 

with section 

211.34c of the Michigan Compiled Laws. The Board of Review shall not be influenced by the effect that a particular cliissification has 

. 

that property's status as a homeowner's principal residence or qualified agricultural property.) 

Classification of property on this year's assessment rol: 

401 

1 

Classification should be: (Please check one of the following) 

| 

[J Agricultural 

O Industrial 

CI Timber Cutover 

[utility (Personal Property Only) 

[0 commercial 

[J Residential 

[Cbevelopmental 

3. PROTEST OF EXEMPTION FOR QUALIFIED AGRICULTURAL PROPERTY 

(If the assessor has denied or changed the percentage of the exemption from the 18 mills of local school operating tax for 

ral 

the owner may appeal this action to the March Board of Review. THE BOARD OF REVIEW HAS NO AUTHORITY TO CONSIDER OR ACT UPON THE 

EXEMPTION FROM THE 18 SCHOOL OPERATING MILLS FOR HOMEOWNER'S PRINCIPAL RESIDENCE PROPERTIES.) 

Percent qualified agricullural exempiion granted by assessor. (Enter 0 if exemption is denied) 

Percent qualified agricultural exemption requested by Owner: (Enter 100 if fut 

exemption requested) 

4. 

REASON FOR PROTEST 

State reason(s) for protest of assessed value and/or the tentative taxable value and/or classification and/or qualified agricultural property exemption. 

CERTIFICATION 

Signature 

Date 

03/09/2026 

Address 

Phone Number 

www.michigan.gov/treasury

Michigan Department of Treasury 

Form 818, Page 2 

FOR BOARD OF REVIEW USE ONLY 

INSTRUCTIONS: Incorporate a copy of this form and the assigned number in the Board of Review minutes. 

[Petition Number 

Parcel Code 

2026-4 

001-181-015-00 

1. ASSESSED VALUE 

Disposition by Board of Review. The Board of Review must state the reason for its action below. 

[X Denied 

[] 

Assessed Value Changed From: 

1229, 

o 

| 

1] 

Record of Vote 

- Board or three member committee of board 

S¢, 

YES 

[no JE" verter: 

HA ves 

O 

Chairperson: [Xfves 

[] No 

mt 

Member: 

Ea 

Reason for Board Action: 

ons ffesd 

+ 

A 

7) 

poD A. 

If you disagree with the decision of the Board of Review regarding tentative assessed value, you may appeal that decision by filing a petition with the Michigan Tax Tribunal at 

P.0.Box 30232, Lansing, Mi. 48909. Commercial Real, Industrial Real, Developmental Real, Commercial Personal, Industrial Personal and Utility Personal Property 

may be 

appealed by May 31. Agricultural Real, Residential Real, Timber - Cut Over Real, and Agricultural Personal Property may be appealed by July 31. The petition must be filed on 

a Michigan Tax Tribunal for or a form approved by the Michigan Tax Tribunal. Michigan Tax Tribunal forms are available at www.michigan.gov/taxirib. 

2. TENTATIVE TAXABLE VALUE 

Disposition by Board of Review. The Board of Review must state the reason for its action below. 

X 

Denied 

0 

Tentative Taxable Value Changed From: 

1,229,900 

_ To: 

Record of Vote - Board or three member committee of board. 

Me 

pomper Aves 

0 w/A 

fy 

Chairperson: [Xr ves 

[J 

vo SE 

Member: 

[Vl ves 

[7] NO 

“mee 

Reason for Board Action: 

HANNE Wo 

a trove 

If you disagree with the decision of the Board of Review regarding tentative taxable value, you may appeal that decision by filing a petition with the Michigan Tax Tribunal at 

P.0.Bax 30232, Lansing, Mi. 48909. Commercial Real, Industrial Real, Developmental 

Real, Commercial Personal, Industrial Personal and Utility Personal Property may be 

appealed by May 31. Agricultural Real, Residential Real, Timber - Cut Over Real, and Agricuttural Personal Property may be appealed by July 31. The petition must be filed 

on a Michigan Tax Tribunal for or a form approved by the Michigan Tax Tribunal. Michigan Tax Tribunal forms are available at www.michigan.gov/axtrib. 

3. CLASSIFICATION 

Disposition by Board of Review. The Board of Review must state the reason for its action below. 

[J 

Denied 

[J 

Classification Changed From: 

__-_ 401 

To: 

Record 

of Vote - Board or three member committee of board. 

Chairperson: 

[J] Yes 

[J] NO—mgs~ 

Member: 

[J ves 

[J 

NO mms 

Member: 

[1 ves 

[J NO mses 

Reason for Board Action: 

i you disagree with the decision of the Board of Review regarding classification, appeal is made by sending Form 2167 to the State Tex Commission, P.0. Box 30471, Lansing, Mi. 48909 by June 30. 

4. QUALIFIED AGRICULTURAL PROPERTY EXEMPTION 

Disposition by Board of Review. The Board of Review must state the reason for its action below. 

Oa 

Exemption Request Denied 

= 

Exemption percent modified from 

Record of Vote - Board or three member committee of board. 

% To: 

Member: 

[J ves 

[J No 

Chai 

; 

YES 

NO 

Member: 

YES 

person: 

[] 

O 

0 

O no 

Reason 

for Board Action: 

If you disagree with the decision of the Board of Review 

tentative taxable 

value, 

must appeal that decision by filing a petition with the Michigan Tax Tribunal, P.O. Box 30232, Lansing, M. 

a 

ve pesson moet be fie 

on 

Michigan Tut Tund fom or 

8 fom approved by 

he Michigan Tax Tribunal Michigan Tax Tribunal forms are available al www.michigan goviaxirib. 

5. Adjournment 

Be 

_ —2 5 

Se A 

"27 2C 

ha 

iu 

Co

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