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Michigan's Property Tax Rate Among The Highest In The Nation

(PATCH) The property tax rate in Michigan is HIGH/LOW/MIDDLING compared to the rest of the country. That's according to a new report Wednesday from the financial news and opinion site 24/7 Wall St., which reviewed the total amount of property taxes paid each year as a percentage of the total value of all occupied homes — for every state. The data is from the 2015 fiscal year and came from the right-leaning Tax Foundation.

Michigan's effective property tax rate ranked 11th highest in the country, the report found, nestled between Pennsylvania and Rhode Island. On average, state and local governments across the country bring in about $1,500 a year in property taxes per person. Here are the numbers for Michigan:

  • Effective property tax rate: 1.50% percent
  • Median home value: $155,700
  • Per capita property taxes: $1,382.10
  • Median household income: $54,909

If those numbers seem like too much, you might consider moving to Hawaii, where the effective property tax rate was just .29 percent. If that sounds like a dream, consider this — the median Hawaiian home is worth more than $617,000 and the typical household earns about $77,000 a year, so don't forget to bring a checkbook and perhaps buy a lottery ticket upon arrival. Alabama, Louisiana, West Virginia and Wyoming rounded out the five states with the lowest property tax rates.

Click here for the full list.

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