Confused by SEV and taxable value in Michigan? This simple guide explains what each term means, how property taxes are calculated, and what first-time homebuyers should know.

Escrow is convenient—but it can also quietly tie up more of your money than necessary. Here’s how to read your annual escrow analysis, spot red flags, and understand common Michigan “payment jump” scenarios (like taxable value uncapping after a purchase). Plus: what to do if you’re owed a refund. Escrow Feels “Set It and Forget It”… Until Your Payment Jumps Most homeowners pay property taxes and homeowners insurance through an escrow account . It’s convenient—your servicer pa