Vermont Property Tax Calculator

Michigan Property Tax Calculator

Michigan Property Tax Calculator

Estimate your property taxes based on Michigan's assessment rates and mill rates

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Property Details
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Location
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Owner Info
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Exemptions
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Results
Michigan Assessment Rates
Michigan assesses properties at 50% of true cash value with an average effective property tax rate of ~1.15%. Taxable value increases are capped at 5% per year or the rate of inflation, whichever is less.

Property Details

Enter the true cash value (market value) of your property in USD

Please enter a valid true cash value

Enter the previous year's taxable value (if known)

Current inflation rate (default: 2.3%)

Different property types have different tax rates in Michigan

Please select a property type

Enter the total square footage of the property

Please enter valid square footage

Enter the total acreage of the property

Please enter valid acreage

Enter the year the property was constructed

Please enter a valid year

The year for which you want to calculate property taxes

Please select an assessment year

Principal residences qualify for the Principal Residence Exemption (PRE)

Recent purchases may trigger a taxable value "uncapping"

Location Information

Your county determines some of your tax rates

Please select a county

Your city/township determines your local millage rates

School districts have their own millage rates

Special assessment districts may have additional millage rates

Owner Information

Your ownership status may affect exemption eligibility

Please select an ownership status

Enter how many years you've owned the property

Please enter a valid duration

Enter owner's age (required for certain exemptions)

Please enter a valid age

Required for Homestead Property Tax Credit eligibility

Disabled veterans may qualify for property tax exemptions

Seniors may qualify for additional property tax credits

Exemption Eligibility

Check all exemptions that apply to your property

Exempts property from up to 18 mills of school operating taxes

100% exemption for qualifying disabled veterans

For low-income homeowners who meet local guidelines

State income tax credit for qualifying homeowners and renters

Exempts property from up to 18 mills of school operating taxes

For qualifying industrial properties

For qualifying residential properties in designated zones

For qualifying rehabilitated commercial properties

For qualifying rehabilitated obsolete properties

Property Tax Assessment Results

Assessment Summary

True Cash Value: $0
State Equalized Value (SEV): $0
Previous Taxable Value: $0
Capped Value Increase: $0
Current Taxable Value: $0

Millage Rate Information

County Operating Millage: 0.00
City/Township Millage: 0.00
School Operating Millage: 0.00
School Debt Millage: 0.00
State Education Tax: 6.00
Special Assessment Millage: 0.00
Total Millage Rate: 0.00

Tax Calculation

County Tax: $0
City/Township Tax: $0
School Operating Tax: $0
School Debt Tax: $0
State Education Tax: $0
Special Assessment Taxes: $0
Total Property Tax: $0
Homestead Property Tax Credit: $0
Net Annual Tax Amount: $0
Effective Tax Rate: 0.00%

Payment Information

Summer Tax Due: $0
Winter Tax Due: $0
Summer Tax Due Date: July 1 (payable by September 14)
Winter Tax Due Date: December 1 (payable by February 14)

Disclaimer: This calculator provides an estimate of property taxes based on the information provided. Actual tax amounts may vary. Please consult with your local tax assessor's office for official tax information.

Vermont Property Tax Calculator – Enter your property’s assessed value, local municipal and education tax rates, and any applicable credits or exemptions to discover your total tax liability and monthly breakdown.

What Is Vermont property tax calculator?

Definition:
A Vermont Property Tax Calculator is an online tool that helps homeowners, buyers, and investors estimate their yearly property tax bill. By providing your property’s assessed value, combined municipal and education tax rates (expressed in dollars per $1,000 of assessed value), and applicable credits—such as the Residential Education Property Tax Credit—you can see your gross tax, total credits, net tax due, and even a monthly payment estimate.

Why It Matters:
In Vermont, property taxes fund local services (town, county, and school budgets) and vary widely by municipality. Understanding your projected tax burden enables you to:

  • Accurately budget for mortgage escrow or monthly set-asides
  • Compare tax obligations across towns and school districts
  • Factor in credits like the Homestead Education Credit to lower your net tax
  • Make informed decisions when purchasing, refinancing, or renovating

Brief History

  • 19th Century Beginnings: Vermont established its modern property tax framework shortly after statehood (1791), relying predominantly on local assessments to fund town services and schools.
  • Education Funding Reform (1997): Act 60 introduced a statewide school funding formula to equalize property tax burdens across wealthy and less-wealthy towns, creating distinct Homestead Education Tax Rates and Non-Homestead Rates.
  • Common Level of Appraisal (CLA): Implemented to ensure assessments reflect market value uniformly—each town’s CLA adjusts the assessed values to a statewide standard, maintaining fairness.
  • Property Tax Credits: The state introduced the Residential Education Property Tax Credit (formerly “state reimbursement”) to return a portion of education taxes to qualifying homeowners via income tax filings, cushioning rising rates.
  • Digital Tools Emergence: In the 2010s, Vermont property tax calculators appeared online—first as spreadsheets, now as dynamic web tools that integrate current town mill rates and credit schedules.

How It Works

Property Tax Formula:

Gross Tax = (Assessed Value × CLA ÷ 1,000) × (Municipal Rate + Homestead Education Rate)
Net Tax Due = Gross Tax − Education Property Tax Credit − Other Credits

  • Assessed Value: Your municipality’s valuation of your property’s full market value.
  • Common Level of Appraisal (CLA): A decimal factor that equalizes local assessments to market value (e.g., a CLA of 0.90 means assessments are 90% of market value).
  • Mill Rates: Expressed as dollars per $1,000 of CLA-adjusted value. Two key components:
    • Municipal Rate: Funds town services, county taxes, and special districts.
    • Homestead Education Rate: Applies to owner-occupied primary residences (“homesteads”).
  • Education Property Tax Credit: State‐administered credit, calculated on your Vermont income tax return, which reduces your net education tax liability.

Step-by-Step:

  1. Enter Assessed Value: Find the value on your town’s grand list or tax bill.
  2. Input CLA: Obtain your town’s CLA from the Vermont Department of Taxes website.
  3. Enter Mill Rates:
    • Municipal Rate (e.g., 1.8000)
    • Homestead Education Rate (e.g., 1.3900)
  4. Calculate Gross Tax: The calculator multiplies your CLA-adjusted value by the combined rates.
  5. Apply Credits: Enter your estimated Education Property Tax Credit (from Vermont Schedule H calculations).
  6. View Outputs:
    • Gross Tax before credits
    • Total Credits applied
    • Net Tax Due for the year
    • Monthly Estimate (Net Tax ÷ 12)
    • Effective Tax Rate (Net Tax ÷ Assessed Value × 100%)

Key Inputs & Components

Input Definition
Assessed Value Valuation of your property by town assessor
Common Level of Appraisal (CLA) Ratio adjusting local assessment to statewide market value
Municipal Mill Rate Town, county, and municipal service rate per $1,000 of CLA-adjusted value
Homestead Education Mill Rate School funding rate for primary residences per $1,000 of CLA-adjusted value
Education Property Tax Credit State credit based on income and tax liability, reducing education tax portion
Other Exemptions or Local Credits Veteran, senior, or disability exemptions provided by towns

Types of Costs & Outputs

Output What It Means
Gross Tax Total tax due before state credits (municipal + education portion)
Total Credits Sum of Education Property Tax Credit and any additional town credits
Net Tax Due Final annual tax owed after subtracting credits
Monthly Tax Estimate Evenly divides Net Tax Due across 12 months for budgeting purposes
Effective Tax Rate (%) (Net Tax Due ÷ Assessed Value) × 100 – shows tax burden relative to property value

Example Scenarios & Sample Calculations

# Assessed Value CLA Municipal Rate Homestead Rate Credit Gross Tax Total Credit Net Tax Due Monthly Est. Eff. Rate
1 $250,000 0.95 1.8000 1.3900 $400 $5,017.50 $400 $4,617.50 $384.79 1.85%
2 $400,000 1.00 2.1000 1.4500 $600 $11,000.00 $600 $10,400.00 $866.67 2.60%
3 $175,000 0.88 1.6500 1.3200 $250 $4,473.60 $250 $4,223.60 $351.97 2.41%
4 $300,000 0.92 1.9000 1.5000 $500 $9,768.00 $500 $9,268.00 $772.33 3.09%
5 $500,000 0.98 2.0000 1.6000 $1,000 $18,200.00 $1,000 $17,200.00 $1,433.33 3.44%

Interactive Tables & Charts

Sample Mill Rates by Town (2024)

Town CLA Municipal Rate Homestead Rate
Burlington 0.95 2.2000 1.3500
Montpelier 1.00 2.0500 1.4000
Rutland 0.89 2.3000 1.5000
Barre Town 0.92 1.8500 1.3000
South Burlington 0.97 2.1500 1.3750

Pie Chart – Tax Breakdown for Scenario 2 ($400,000, CLA 1.00):

  • Municipal Tax: $8,400 (76.4%)
  • Education Tax: $2,600 (23.6%)
  • Credit Applied: $600 deducted from Education portion

(Chart illustrates allocation of gross tax before credits.)

Frequently Asked Questions (FAQs)

Q1: What is a Common Level of Appraisal (CLA)?
The CLA equalizes each town’s assessed values to statewide market value. A CLA of 0.90 means assessments average 90% of market, so your assessed value is divided by 0.90 to calculate your tax base.

Q2: How is the Education Property Tax Credit calculated?
Credits are income-based and claimed on your Vermont income tax return (Form H). The state returns a portion of the education tax you paid, up to an income-adjusted limit.

Q3: Why do mill rates differ by town?
Each municipality sets its own budget for local services, school districts negotiate budgets, and county taxes vary. Combined, these determine your local and education mill rates.

Q4: Can I estimate taxes for a non-homestead property?
Yes. Replace the Homestead Education Rate with the Non-Homestead Rate to calculate taxes for second homes, rentals, or commercial properties.

Q5: How often do property tax rates change?
Mill rates and CLAs are updated annually. Always verify with your town’s lister or the Vermont Department of Taxes for the most current figures.

Filled Example (Quick Use)

  • Assessed Value: $300,000
  • CLA: 0.92
  • Municipal Rate: 1.9000
  • Homestead Education Rate: 1.5000
  • Estimated Gross Tax: $9,768.00
  • Education Property Tax Credit: $500
  • Net Annual Tax Due: $9,268.00
  • Estimated Monthly Payment: $772.33
  • Effective Tax Rate: 3.09%

This calculator provides estimates based on the latest Vermont statutes, mill rates, and credit schedules. For precise tax obligations and credit eligibility, always consult your local lister’s office or the Vermont Department of Taxes.

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