Phone: 616-260-1112  |  Email: grhometeamrealty@gmail.com

How To Calculate Property Taxes

How To Calculate Property Taxes
October 10, 2017 Stephanie Hino

One of the biggest myths when purchasing a home is assuming you will pay the same taxes as the current home owner.

You can use this simple calculation to estimate your annual taxes:

Take the purchase price and divide it in half. Then drop the thousands and multiple that by the average tax millage for your city/township.

i.e. Purchase price $200,000 $200,000/2 = 100,000

100,000/1,000 = 100

Average Millage Rate across Grand Rapids = 30mills

100×30 = 3,000

You can estimate 3,000/year in property taxes

 

For more information or to contact us call 616-260-1112

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