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Monday, November 25, 2024

Higher property tax revenue in Michigan during Q2 2023

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Rachael Eubanks State Treasurer at Michigan Department of Treasury | Michigan Department of Treasury

Rachael Eubanks State Treasurer at Michigan Department of Treasury | Michigan Department of Treasury

Michigan collected $120 million in property taxes during the second quarter of 2023, a 55.8% increase over the first quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the first quarter of 2023 was $77 million.

Overall, Michigan collected $9.8 billion in combined tax revenues in the the second quarter of 2023, an increase from the $7.8 billion collected in the previous 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.

Q2 2023 Michigan Tax Collections
Type of TaxAmount (millions)
Property Taxes$120
Sales and Gross Receipts Taxes$4,693
Income Taxes$4,277
License Taxes$588
Other Taxes$99
Source: U.S. Census Bureau

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