TWK - Property Tax Appeal - 7.30.25.pdf
McClelland, Petitioner V City Of Ann Arbor, Respondent · 25-002961-TT
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TWK, LLC – 2025 Property Tax Appeal Summary This document supplements our Michigan Tax Tribunal petition for Units 207 and 209 at 218 W Kingsley Street, Ann Arbor, MI 48103. Unit 207 – Parcel ID: 09-09-29-151-025 • Current Assessed Value (SEV): $474,500 • Current Taxable Value: $446,876 • Market Value Based on Comparable Sales: $791,000 • Requested SEV (50% of Market Value): $395,500 • Requested Taxable Value: $395,500 Unit 209 – Parcel ID: 09-09-29-151-027 • Current Assessed Value (SEV): $569,100 • Current Taxable Value: $532,939 • Market Value Based on Comparable Sales: $944,000 • Requested SEV (50% of Market Value): $472,000 • Requested Taxable Value: $472,000 Supporting Rationale Seven comparable sales (highlighted in MLS) show a market average of $558 per square foot. Our current assessments imply values of $670+/SqFt, well above market-supported levels. These comps reflect true cash value per MCL 211.27a and are arms-length transactions: Comparable Sales – 218 W Kingsley Street All of the following units are located in the same building as Units 207 and 209. Each was an arms-length transaction, similar in age, layout, and quality. Comparable Sales Summary:
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• Unit 201 1,706 SqFt – Sold for $875,000 → $513/SqFt • Unit 203 1,215 SqFt – Sold for $715,000 → $589/SqFt • Unit 208 1,580 SqFt – Sold for $819,000 → $518/SqFt • Unit 307 1,418 SqFt – Sold for $765,000 → $540/SqFt • Unit 404 1,220 SqFt – Sold for $755,000 → $619/SqFt • Unit 409 1,693 SqFt – Sold for $860,000 → $508/SqFt • Unit 504 1,220 SqFt – Sold for $760,000 → $623/SqFt Average Price per SqFt (7 sales): $558/SqFt These sales provide strong support that the SEVs for Units 207 and 209 are excessive and not reflective of true cash value, as required by Michigan law. Conclusion Given the clear gap between assessed values and market data, we request the Tribunal reduce SEVs and Taxable Values accordingly for 2025. Submitted by: Evan McClelland, CPA Controller – Promanas 6564 S. State Road, Suite 400 Saline, MI 48176 귗 귘 귙 귚 귛 귝 규 accounting@promanas.com | ☎ 734-477-9400