Michigan

Property Tax Rates & Rules

1.25%

Effective Rate

$2,937

Median Annual Tax

$235k

Median Home Value

Available

Homestead Exempt

Full Tax Details

Avg Effective Rate1.25%

Median Home Value$235,000

Median Annual Tax$2,937

Assessment Ratio50%

Homestead ExemptionYes

Senior ExemptionYes

Highest Rate CountyIngham

Lowest Rate CountyLeelanau

Payment ScheduleSummer (July) and Winter (December) installments.

Assessment Method

State Equalized Value (SEV) is 50% of market value; taxable value growth capped at 5%.

Homestead Exemption Details

Principal Residence Exemption (PRE) exempts up to 18 mills of school tax.

Senior Exemption Details

Homestead Property Tax Credit for seniors based on income vs. tax paid.

How to Appeal Your Assessment

Board of Review meetings held in March annually.

Official Source

Michigan Tax Authority

Last verified: 2026-03-31 · Always confirm current rates before making real estate decisions.