Transfer Of TitleTaxesMEDIUM
Michigan's property tax is based on:
Correct Answer
B) Taxable value, which is capped at the rate of inflation or 5%, whichever is less
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.
Answer Options
A
Market valueB
Taxable value, which is capped at the rate of inflation or 5%, whichever is lessC
Purchase price onlyD
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