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Basic Tax Calculations

This is a basic estimate of the millage being requested by Gwinn Area Community Schools.


Taxable Value Yearly Cost Monthly Cost
$40,000 $60.00 $5.00
$50,000.00 $75.00 $6.25
$60,000.00 $90.00 $7.50
$70,000.00 $105.00 $8.75
$80,000.00 $120.00 $10.00
$90,000.00 $135.00 $11.25
$100,000.00 $150.00 $12.50
$110,000.00 $165.00 $13.75
$120,000.00 $180.00 $15.00
$130,000.00 $195.00 $16.25
$140,000.00 $210.00 $17.50
$150,000.00 $225.00 $18.75
$200,000.00 $300.00 $25.00
$250,000.00 $375.00 $31.25
$300,000.00 $450.00 $37.50
$400,000.00 $600.00 $50.00
$500,000.00 $750.00 $62.50

District Tax Calculator

6 months ago


The website below will estimate the impact on a taxpayer’s annual tax bill if the sinking fund election is successful. Click on the text below and it will open in a new window.



Revised Michigan Homestead Property Tax Credit Summary:

Michigan Homestead Property Tax Credit – Households that pay homestead property taxes greater than 3.2% of their annual income may also be eligible for the Michigan’s Homestead Property Tax Credit.  Eligible households may deduct up to 60% (up to 100% for senior citizens, please see the senior credit table below) of the millage increase cost up to a $1,500 Homestead Tax Credit limit.  The eligibility for the credit begins to decrease after household income exceeds $51,001 and ends completely after the household income exceeds $60,001.  Please see below the general reduction table and senior credit table below:

General Credit Reduction

 

Senior Credit

Resources

% of credit

 

Resources

% Credit

$51,000

100.00%

 

$21,000

100%

$51,001

90.00%

 

$21,001

96%

$52,001

80.00%

 

$22,001

92%

$53,001

70.00%

 

$23,001

88%

$54,001

60.00%

 

$24,001

84%

$55,001

50.00%

 

$25,001

80%

$56,001

40.00%

 

$26,001

76%

$57,001

30.00%

 

$27,001

72%

$58,001

20.00%

 

$28,001

68%

$59,001

10.00%

 

$29,001

64%

$60,001

0.00%

 

$30,001

60%




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