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Michigan's property tax is based on:

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Duration: 2:41

Question & Answer

Review the question and all answer choices

Market value

Taxable value, which is capped at the rate of inflation or 5%, whichever is less

Correct Answer

Purchase price only

Square footage

Why is this correct?

Michigan property tax is based on taxable value, which is capped annually at the rate of inflation or 5%, whichever is less, under Proposal A.

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