According to the most recent equalization values, Sterling Heights is again one of the top five cities in State Equalized Values (SEV) in the entire state of Michigan and ranks No. 3 in industrial property values among the five highest SEV communities in the state.
Of the top SEV communities in Michigan, including Ann Arbor, Detroit, Troy and Grand Rapids, Sterling Heights ranks third in industrial property values at $726 million. Among this group, Sterling Heights ranks fifth in residential property values at nearly $6.3 billion and fifth in increase in assessed value at $450 million.
In Macomb County, Sterling Heights ranks the top SEV community in the County, and sits at the top in commercial value and second in residential value.
City Assessor Robin Palazzolo said over the past year, Sterling Heights has seen industrial property value increase by nearly 6 percent and residential property value increase by 6.5 percent.
Sterling Heights Mayor Michael C. Taylor noted that voter-approved millages like REcreating Recreation, Safe Streets and Pathway to Play and Preservation undoubtedly continue to help property values grow.
“There are many factors that go into strong property values like market conditions and economy, but quality of life is key, and that’s where Sterling Heights stands out among other communities,” said Mayor Michael C. Taylor. “Sterling Heights has desirable neighborhoods, unparalleled amenities, great schools, the best big city safety record in the state, and a master plan full of sustainable development potential balanced with land preservation. For people and business owners looking for quality of life, they don’t need to look further than Sterling Heights.”
Sterling Heights also continues its push to improve neighborhood appearance and property values through its ongoing SHINE program — the Sterling Heights Initiative for Neighborhood Excellence. Under the initiative, blighted properties are quickly addressed by a city-hired contractor, while volunteers mobilize twice a year to assist residents in maintaining their homes and yards.
In tandem with these efforts, the Sterling Heights Beautification Commission remains active in recognizing residents and local businesses that invest in the upkeep and visual appeal of their properties. Together, these programs aim to preserve the city’s curb appeal and contribute to the long-term strength of local property values.
Charts containing the SEV of the top five communities in Michigan and Macomb County are below:
