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Saturday, November 23, 2024

Michigan’s property tax revenue up 5.2 percent since Q4 2019

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Michigan collected $1.5 billion in property taxes during the fourth quarter of 2020, a 5.2 percent increase over the same period the previous year, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

In the fourth quarter of 2019, $1.4 billion was collected.

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

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.

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
Source: U.S. Census Bureau

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