Tuesday, October 26, 2010

How To Calculate Your Taxes from Millage Rates

An important part of being a homeowner is understanding your taxes. This is true whether you are buying, selling, considering a ballot proposal . . . AND, this could be important to you as the tax year draws to an end and you try to figure out what’s best for you. Perhaps, in February, you’ll want to appeal your taxes. See my other Blog posts, or drop me an email for help.
So, how do you do it?

1 Mill equals $.001

OR

1 Mill equals $1 per $1000 of taxable value

For instance, let’s say your taxable value is $100,000 . . .

Your home is located in the City of Ann Arbor with a millage rate of 45.1876

Formula:

Taxable Value x Millage Rate
1,000

100 x 45.1876
1,000

Taxes Owed = $4518.76

Some common area millage rates for principal residence (you live there) homeowners:

Ann Arbor – City = 45.1876
Ann Arbor – Township  = 33.8087
Chelsea – City = 42.8145
Milan – City  = 44.5761
Ypsilanti – City = 56.6186
Augusta – Township (Lincoln Schools) = 29.5454
Augusta – Township – Milan Schools 30.1354
Bridgewater Township (Manchester Schools) 30.5102
Bridgewater - Township (Saline Schools) 31.6168
Dexter – Township (Chelsea Schools) 33.4309
Dexter – Township (Dexter Schools) 33.3005
Dexter – Township (Pinckney Schools) 31.4256
Freedom – Township (Chelsea Schools) 29.3745
Freedom – Township (Dexter Schools) 30.5181
Freedom – Township (Manchester Schools) 28.4495
Freedom – Township (Saline Schools) 29.5561
Lima – Township (Chelsea Schools) 30.4781
Lima – Township (Dexter Schools) 30.3396
Lodi – Township (Ann Arbor Schools) 30.0501
Lodi – Township (Dexter Schools) 31.1800
Lodi – Township (Saline Schools) 30.2180
Lyndon – Township (Chelsea Schools) 30.3814
Lyndon – Township (Stockbridge Schools) 29.1700
Manchester – Township (Clinton Schools) 28.6978
Manchester – Township (Columbia Schools) 45.6882
Manchester – Township (Manchester Schools) 47.1927
Northfield – Township (Ann Arbor Schools) 35.4165
Northfield – Township (Dexter Schools) 36.5465
Northfield – Township (South Lyon Schools) 32.2211
Northfield – Township (Whitmore Lake Schools) 34.2779
Salem – Township (Ann Arbor Schools) 28.3906
Salem – Township (Plymouth SCC Schools) 21.5729
Salem – Township (Plymouth WCC Schools) 23.4618
Salem – Township (South Lyon WCC Schools) 28.6065
Salem – Township (South Lyon OCC Schools) 26.5053
Salem – Township (Northville Schools) 24.2018
Saline – Township (Clinton Schools) 28.8254
Saline – Township (Milan Schools) 30.3603
Saline – Township (Saline Schools) 31.4769
Saline – City 44.0885
Scio – Township (Ann Arbor Schools) 29.8366
Scio – Township (Dexter Schools) 30.9665
Superior – Township (Ann Arbor Schools) 34.2598
Superior – Township (Plymouth WCC Schools) 29.5283
Superior – Township (Willow Run Schools) 37.0785
Superior – Township (Ypsilanti Schools) 32.3785
Superior – Township (Plymouth SCC Schools) 27.6394
Superior – Township (Khanna Schools) 37.4412
Superior – Township (St. Henry & Macbride Schools) 37.4412
Sharon – Township (Chelsea Schools) 46.2151
Sharon – Township (Grass Lake Schools) 31.4256
Sharon – Township (Manchester Schools) 27.2901
Sharon – Township (Napoleon Schools) 28.3856
Sylvan – Township (Chelsea Schools) 30.6064
Webster – Township (Ann Arbor Schools) 32.0003
Webster – Township (Dexter Schools) 33.1302
Webster – Township (Pinckney Schools) 29.9232
Webster – Township (Whitmore Lake Schools) 30.8617
York – Township (Lincoln Schools) 29.1725
York – Township (Milan Schools) 29.7625
York – Township (Saline Schools) 30.8791
Ypsilanti – Township (Lincoln Schools) 39.4094
Ypsilanti – Township (VanBuren Schools) 35.5592
Ypsilanti – Township (Willow Run Schools) 42.2594
Ypsilanti – Township (Willow Run Schools) 38.1594

Of course, if the home is not your principal residence (it’s an investment, rental, you’re not living there) … then your millage rate is much higher, but we are talking about principal residence – a.k.a. homestead here.

What goes into that little number are various rates for a bunch of little services or bond issues, such as:
• County Rate
• CVT Rate
• School Operating
• State Education
• Supplemental Millage
• Local Enhancements
• School Debt
• C.C. Rate
• ISD Rate
• Library Rate

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