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