Florida vs Michigan
Property‑Tax Comparison: Florida vs. Michigan
Intro
Both Florida and Michigan levy property taxes that fund local services such as schools, roads, and public safety. According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates), Florida’s effective property‑tax rate is lower than Michigan’s, resulting in lower annual taxes for comparable home values. The figures below provide a side‑by‑side look at the key metrics that affect homeowners and other residents.
Side‑by‑side comparison
| Metric (2023 ACS) | Florida | Michigan |
|---|---|---|
| Effective property‑tax rate | 0.79 % | 1.28 % |
| Median home value | $325,000 | $217,600 |
| Median annual property tax | $2,555 | $2,795 |
| Property tax on a $250,000 home | $1,966 | $3,211 |
| Property tax on a $500,000 home | $3,931 | $6,423 |
| Median household income | $71,711 | $71,149 |
Sources: “According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates).”
Which state “wins” on property tax?
- Winner (lower tax rate): Florida
- Rate difference: 0.50 percentage points, which is a 38.79 % lower effective rate than Michigan’s.
- Annual tax difference on a $250,000 home: $3,211 – $1,966 = $1,245.
- Annual tax difference on a $500,000 home: $6,423 – $3,931 = $2,492.
Because Florida’s effective property‑tax rate (0.79 %) is lower than Michigan’s (1.28 %), property owners in Florida pay less tax for the same assessed value. The difference is reflected in both the per‑home calculations and the median annual tax figures.
Who benefits most from this comparison?
| Audience | Relevance of the comparison |
|---|---|
| Current or prospective homeowners | Understanding the annual tax burden helps in budgeting for home ownership and comparing affordability across states. |
| Retirees | Property taxes are a significant component of fixed‑income budgeting; a lower rate may make Florida more attractive for retirees seeking lower ongoing expenses. |
| Real‑estate investors | Lower tax rates can improve cash‑flow projections, especially for higher‑value properties. |
| Policy analysts / local governments | The data illustrate how state‑level tax structures translate into household‑level costs. |
The comparison is factual and does not imply a recommendation beyond the observed tax‑rate difference. For more detailed information on each state’s tax system, see the dedicated pages: Florida property tax and Michigan property tax.
Based on the most recent ACS estimates, the numbers presented reflect statewide averages. Local variations (e.g., county millage rates, exemptions, and assessment practices) can cause actual tax bills to differ from the median figures shown here.
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Data Source
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates). This comprehensive dataset provides reliable, standardized property tax information across all states.