How to Calculate Property Taxes: Millages explained

Last week we wrote a post about the Byron Center School District’s special proposal (read it here!) to extend the current millage. Both the Kent Intermediate School District and Byron Center Schools’ proposals were granted by voters on May 2. Readers may have thought to themselves “What is a millage?” or, “How do mills affect my property taxes?”

In Michigan, property taxes are calculated based on the number of mills for your property’s location. The mills are levied based on your township and school district and are meant to support community programs. For instance, a property within Byron Township and Byron Schools has a 28.6207 millage. A mill equals $1 for every $1,000 of your assessed (or SEV) value. This money is meant for schools, jails, libraries, senior citizens, veterans, zoos, museums, and colleges. If a property is used as a primary residence, it is “Homesteaded” and is exempt from the first 18 mills of school operating costs (Michigan Taxpayer’s Guide 2017).

To see a breakdown of the millages for each township/school district in Kent County click here. Be sure to use the Homesteaded rate if this is your main home.

An easy way to calculate your property taxes:

Example: Single Family Home in Byron Township and Byron School District
Home’s assessed value= $100,000
Millage (Homesteaded rate)= 28.6207
Annual property taxes=
($100,000/1,000)x28.6207= $2862.07

Simple Calculation: Take the assessed value and move the decimal place 3 spots to the left (100,000.00 -> 100.00) and multiply by the millage rate.