Michigan Property Values

Michigan Property Values

(millions of dollars)

proptaxs proptax

Fiscal Year State Equalized Values (SEV) Permissible CPI Increases Taxable Values* (TV) TV as a percent of SEV Statewide Average Tax Rate Total Property Tax Revenues
1927 $ 7,553.6       26.65 $ 201.3
1928 7,891.2       27.55 217.4
1929 8,148.6       27.95 227.8
1930 8,362.9       28.05 234.6
1931 8,460.2       27.99 263.8
1932 7,854.6       28.61 224.7
1933 6,603.8       29.14 192.4
1934 5,821.1       26.75 155.7
1935 5,685.3       27.18 154.5
1936 5,652.3       26.09 147.5
1937 5,720.3       25.55 146.1
1938 5,912.3       26.18 154.8
1939 6,054.9       27.49 166.4
1940 6,118.7        27.67 167.3
1941 5,843.1        27.28 170.9
1942 6,461.5        27.65  183.2
1943 7,065.5        27.51  187.8
1944 7,430.7       27.69 192.6
1945 7,506.9       27.92 205.3
1946 7,687.7       29.15 232.2
1947 9,088.6       27.38 247.2
1948 10,006.9       29.16 286.2
1949 11,564.7       31.63 329.4
1950 11,913.8       32.00 329.4
1951 12,758.3       32.61 342.1
1952 13,634.3       30.02 375.3
1953 15,720.9       28.20 409.3
1954 16,722.1       29.69 443.3
1955 17.551.3       32.13 496.5
1956 18,957.6       32.80 563.9
1957 21,602.3       32.89 621.8
1958 22,153.6       33.46 710.5
1959 22,438.4       35.06 741.3
1960 24,870.3       34.22 786.6
1961 25,202.6       34.71 851.2
1962 25,182.6       35.39 874.8
1963 25,797.5       36.24 934.9
1964 26,350.2       37.62 934.9
1965 27,080.5       38.35 1,038.6
1966 28,206.3       40.03 1,038.6
1967 29,891.3       43.11 1,129.2
1968 32,043.9       46.03 1,288.7
1969 35,101.3       47.32 1,475.0
1970 38,551.6       48.62 1,660.9
1971 41,649.0       49.54 1,874.3
1972 44,487.7       49.07 2,063.3
1973 47,612.7       50.84 2,183.2
1974 51,871.3       51.08 2,420.4
1975 56,800.9       51.12 2,649.6
1976 55,478.9       53.37 2,960.7
1977 59,513.0       53.89 3,207.1
1978 64,863.9       53.73 3,484.9
1979 72,512.3       53.64 3,889.4
1980 82,581.1       53.42 4,411.4
1981 91,799.2       53.36 4,898.4
1982 98,139.9       52.71 5,172.5
1983 98,302.9       52.77 5,187.3
1984 100,151.8       53.66 5,374.3
1985 102,685.1       54.47 5,592.9
1986 106,154.9       55.12 5,851.0
1987 111,037.6       55.97 6,214.6
1988 119,013.9       56.81 6,761.1
1989 128,754.5       57.40 7,391.1
1990 139,901.4       57.17 7,998.5
1991 150,665.1       57.34 8,638.7
1992 153,928.6       58.09 8,941.7
1993 167,731.4       56.64 9,500.6
1994** 175,195.1   $ 175,195.1 100.0%   5,978.5
1995*** 186,394.9 2.5% 182,125.2 97.7% 38.88 5,988.4
1996 200,341.1 2.8% 191,680.6 95.7% 39.32 6,386.0
1997 216,745.3 2.8% 202,779.1 93.6% 39.25 6,737.0
1998 237,416.0 2.7% 215,242.1 90.7% 39.27 7,158.5
1999 261,002.2 1.6% 228,108.8 87.4% 39.16 7,565.4
2000 284,426.8 1.9% 240,717.2 84.6% 39.32 8,018.4
2001 312,896.0 3.2% 257,889.9 82.4% 39.78 8,690.3
2002 343,715.3 3.2% 275,040.9 80.0% 40.17  9,387.4 
2003 369,525.3 1.5% 288,259.7 78.0% 39.00 9,825.2
2004 392,622.1 2.3% 304,697.5 77.6% 40.00 10,369.1
2005 415,797.0 2.3% 321,859.0 77.4% 39.86 10,905.9
2006 436,421.3  3.3% 340,334.4  78.0% 39.96 13,598.1
2007 453,108.7  3.7% 357,297.8 79.0% 39.89 14,194.1
2008 448,139.5  2.3% 363,195.7  81.0% 38.94 14,143.5
2009 423,901.3  4.4% 360,437.1  85.0% 39.13 14,109.7
2010 385,050.2  -0.3% 336,744.3  87.5% 39.70 14,014.7
2011 362,775.0 1.7% 323,605.3 89.2% 40.00 13,378.0
* Beginning with the 1995 tax year, Taxable Valuations were used to determine tax levies.
** School information was not compiled for the 1994 tax year and was not included in that years totals.
*** Tax levy amounts and average tax rates for 1995 and thereafter include the 6 mill State Education Tax.Source: Michigan State Tax Commission.