48640 Property Tax Rate

Property owners in ZIP code 48640 (Midland, Michigan) pay a median of $2,830/year in property taxes on homes valued at $191,000. This translates to an effective tax rate of 1.48%, which is 21% above the Michigan state average of 1.22%.

The monthly property tax burden for a median-valued home in 48640 is approximately $236, which factors into escrow payments on mortgages. This ZIP code is located within Midland County. This is $404 more than the Michigan average of $2,426/year.

Compared to similar ZIP codes in Michigan, 48640 has lower property taxes. ZIP codes with similar effective rates include 48747 (1.48%) and 49788 (1.48%).

In Midland, property taxes represent approximately 3.5% of the median household income of $81,630, providing context for the relative tax burden on homeowners in this area.

Under Proposal A, uncapping at sale resets your assessed value to purchase price, and Midland County's 1.47% effective rate means a significant year-one tax increase. Apply immediately for the Principle Residence Exemption (PRE) with the Midland County Assessor — this exemption removes school operating millage from primary residences and is the most important tax relief available to you. File the PRE application by December 1 to ensure the exemption takes effect for the next tax year.