Michigan Property Values

(millions of dollars)

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%		5,848.8
1995***	186,394.9	2.5%	182,125.2	97.7%	38.88	7,236.7
1996	200,341.1	2.8%	191,680.6	95.7%	39.32	7,614.1
1997	216,745.3	2.8%	202,615.5	93.5%	39.25	7,983.2
1998	237,416.0	2.7%	215,179.1	90.6%	39.27	8,502.3
1999	261,002.2	1.6%	228,096.8	87.4%	39.16	8,888.9
2000	284,426.8	1.9%	240,847.5	84.7%	39.32	9,394.2
2001	312,896.0	3.2%	257,712.1	82.4%	39.78	10,133.3
2002	343,715.3	3.2%	274,852.2	80.0%	40.17	10,964.1
2003	369,525.3	1.5%	288,259.7	78.0%	39.00	11,601.2
2004	392,622.1	2.3%	304,697.5	77.6%	40.00	11,911.1
* 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.