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Xphillipjrx
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Username: Xphillipjrx

Post Number: 136
Registered: 11-2004
Posted From: 68.75.240.133
Posted on Thursday, August 24, 2006 - 8:54 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

What's a good estimate to use for city and county property taxes for residential property? Trying to do a mortgage pre-qual and I want to be pretty accurate. I know it could be lower with exemptions, but what is a good factor I can use? Thanks!
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Detroitplanner
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Username: Detroitplanner

Post Number: 146
Registered: 04-2006
Posted From: 152.163.100.8
Posted on Thursday, August 24, 2006 - 10:40 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

arm + leg = taxes

It depends on where you buy, what your house is appraised at, and cost of house. These factors can vary wildly. For a conservative (worst case) in the City of Detroit, try this:

(((Cost of house/2)*.07)+300)
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Bvos
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Username: Bvos

Post Number: 1893
Registered: 10-2003
Posted From: 70.228.57.79
Posted on Thursday, August 24, 2006 - 10:53 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Here's a link that I've found handy when calculating property taxes:

http://www.michigan.gov/treasu ry/0,1607,7-121-1748_1876_2806 6---,00.html

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