SEV

Why it Matters:

State Equalized Value (SEV) represents the total assessed value of all real property, based on 50% of market value as required by state law.  An increase in SEV is a good indicator of economic strength.  The graph above shows that Marquette County's SEV slowly increased, even during the Great Recession, while Michigan's SEV is still recovering from the recession.
 
On the county scale, several events can change SEV independent of economic conditions.  Marquette County's SEV dropped between 2014 and 2015 because of a change in the way that the Eagle Mine is taxed.  The mine is now taxed based on tons of ore that it produces, rather than its market value.  As a result, it is no longer included in the assets that are part of SEV.

 Updated: 09/29/2016