What would the property taxes be for an owner-occupied home that was valued at $200,000?

The worst case scenario would be that the taxable value was set at 50% of the market value, or $100,000 for a $200,000 home. Using the PRE (i.e., principal residence exemption or homestead) millage rate for the East Lansing school district for 2019, taxes would have been $5,525.42. The calculation formula is: Taxable Value x Millage Rate x 1.01 (1% administration fee) = TAXES or $100,000 x 0.0547071 x 1.01 = $5,525.42.

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1. Who pays property taxes?
2. How are property taxes calculated?
3. What is the taxable value?
4. What is the millage rate?
5. Who does the City of East Lansing collect property taxes for?
6. What would the property taxes be for an owner-occupied home that was valued at $200,000?
7. What is the difference in taxes if a property does not have a Principal Residence Exemption?
8. When are taxes due?
9. Who do I call if I have a question about taxes.