In Michigan, property taxes are levied twice yearly, with distinct cost deadlines. The “summer time” levy is often due in September, whereas the “winter” levy is due the next February. These levies signify the identical annual property tax quantity, divided into two installments. For instance, a $3,000 annual property tax invoice could be break up into two funds of $1,500, payable in summer time and winter, respectively. This bifurcated system permits property house owners to handle their tax burden extra simply all year long.
This bi-annual cost construction advantages each taxpayers and native governments. For taxpayers, it offers larger flexibility in budgeting and money movement administration. For native governments, it ensures a extra constant income stream, facilitating higher monetary planning and repair supply. This method has been in place for a few years, offering stability and predictability throughout the Michigan tax system.
