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How to Calculate your Property Taxes

 

1 MILL = $.001 OR 1 MILL $1 PER $1000 TAXABLE VALUE 

EXAMPLE : If your Taxable Value is $100,000 and your home is located in the City of Ann Arbor where the current millage rate is 49.07 for a homestead property. Non- homestead rate is 62.31. Use the formula below to compute taxes owed.

 

FORMULA : TAXABLE VALUE x MILLAGE RATE 

               $1,000

 

            $100,000 x 49.07

               $1,000

 

TAXES OWED = $4,777

 

 

 

Note: Some communities levy one half of their millage in the summer and the other half in the winter. Villages levy their millages only in the summer. 

 

 

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