![]() ![]() And yes, we're going to need to prepare for another big hike - possibly another 5% round - in property taxes next year too, thanks to persistently stubborn inflation. Homeowners will experience this bigger-than-normal increase when their summer property tax bills arrive in July. Michigan homeowners would have been looking at a 7.9% hike based on the actual change in red-hot inflation. But make no mistake, high inflation is going to hit property taxes in Michigan even if you just sat in your house and did nothing but order pizza and binge-watch "The Office." If you bought a home last year - or took on a big construction project to add on a bedroom - your taxable value likely would be going up more than 5%. And this year, we're getting hit by warnings that inflation will send taxable home values soaring by 5% on 2023 tax bills - the biggest increase in 28 years. Every year, Michigan homeowners get a heads-up on how much their property taxes could be going up. ![]()
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