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The taxable value of a property is determined by the Assessor's Office. Under Proposal A, which was approved by voters in 1994, taxable value cannot increase faster than 5% per year or the rate of inflation, whichever is less, until the property transfers ownership. In the year following a transfer of ownership of property, the property's taxable value is half of the property's market value. Physical changes to a property (i.e., new construction) can also result in a property's taxable value increasing faster than the rate of inflation.
The City collects property taxes in the summer (July 1) and winter (December 1). The taxes are collected for the operation of the City itself, as well as East Lansing School District, Lansing School District, Haslett School District, Bath School District, Ingham Intermediate School District, Clinton County Regional Education Service Agency, Lansing Community College, Capital Area Transportation Authority (CATA), Capital Region Airport Authority, Ingham County, Clinton County and the State of Michigan (State Education Tax).
The City millage rate is established by City Council with limitations established by the City Charter. The boards of the other jurisdictions establish their own millage rate. Each year the millage rate changes depending on the taxing authority’s budget needs. See the current Tax Rates.
The worst case scenario would be that the taxable value was set at 50% of the market value, or $100,000 for a $200,000 home. Using the PRE (i.e., principal residence exemption or homestead) millage rate for the East Lansing school district for 2022, taxes would have been $5,553.04. The calculation formula is: Taxable Value x Millage Rate x 1.01 (1% administration fee) = TAXES or $100,000 x 0.0549806 x 1.01 = $5,553.04.
A Principal Residence Exemption allows for up to 18 mills of local school operating taxes to be exempted from taxation. Using the above example, in 2022 a non-homestead property would have been billed $7,298.06 in taxes without administration fee. The millage rate would have been 72.9806 mills (0.0729806).
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