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
$100,000 x 49.07
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.