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Saturday, November 23, 2024

Michigan collects $1.5 billion in property tax revenue in Q4 2020

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Michigan collected $1.5 billion in property taxes during the fourth quarter of 2020, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Overall, Michigan collected $8.8 billion in combined tax revenues in the fourth quarter.

Fourth Quarter Michigan Tax Collections
Type of TaxAmount (in millions of dollars)
Property Taxes$1,494
Sales and Gross Receipts Taxes$3,656
Income Taxes$3,102
License Taxes$452
Other Taxes$86
Source: U.S. Census Bureau

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