michigan property tax forms
Michigan Homestead Exemption Form
Paying too much?
Top 10 Metropolitan
Areas with Home
Price Depreciation
First Quarter 07-First Quarter 08
Metro Area |
Loss |
|
|---|---|---|
Miami |
25.9% |
|
Las Vegas |
24.6% |
|
Phoenix |
23.0% |
|
Los Angeles |
21.7% |
|
San Diego |
20.5% |
|
San Francisco |
20.2% |
|
Tampa |
19.6% |
|
Detroit |
17.9% |
|
Wash. D.C. |
15.3% |
|
Minneapolis |
14.4% |
|
| Source: Standard & Poor’s/Case-Shiller |
||
Property owners can calculate their tax bill by multiplying that taxable value by the tax rate.
In Michigan, the property tax rate is called a millage, and it is figured in mills. A mill equals $1 in taxation for every $1,000 in taxable value.
A parcel may have several millages in its tax rate. There is likely to be a millage to operate local government, and another for the county. Part of the millage rate may include mills for libraries, police and fire or schools.