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Form 1040 (Schedule J) for Detroit Michigan: What You Should Know
Deduction for Michigan personal property tax on the adjusted gross income of an individual over 500,000. Tax on your business property. Deduction for income of a corporation on your interest in a partnership or other entity. Other deduction not related to self-employment. Michigan personal property tax is only payable by nonresidents who are not employed by a Michigan resident. You may be taxed based on the value of your real property, personal property, and the value of personal property you possess but do not use. Michigan has a property tax system based on the market value of property. The system divides property into five tax classes, based on the cost of property and the amount and use of services of each property class. For more information, see Chapter 5 of the Michigan Tax Guide. For more information for residents of Michigan, see the Michigan resident's Personal Property Tax page on our website. For more information on taxes and estimates for residents of Detroit, see “City of Detroit Tax Estimator” on our website. Other estimates and information for residents of Detroit can be found at the Michigan Income Tax Calculation page on our website. Contact the Business Office for the tax year for each income year for which you will be receiving Michigan income taxes. Taxes and Estimates for Detroit The Detroit City Income Tax Calculation is updated on a monthly basis using the estimated tax revenue from the City's website. The estimated tax revenue is based on the property tax rate, the income tax rate, current tax rates, the estimated tax revenue from the City's Annual Tax Report, and any other information or projections provided on the City's website. Estimated Tax Revenue for Tax Year 2024 Property Rate Income Tax Rate State of Michigan Income Tax Rate Michigan Gross Income Tax Rate Estimated Tax Revenue 2024 Property 0.00 0.00 0.0% 4,072.83 Property Tax Rate 2024 Tax 0.00 0.00 0.0% 2,621.29 Income Tax Rate 2024 Tax 0.00 0.00 0.0% 1,723.80 State of Michigan Income Tax Rate 2024 Tax 0.00 0.00 0.0% 1,700.00 City Income Tax 4,062.83 1,723.80 9,973.19 1,300.60 Estimated Tax Revenue 2024 – 0.00 0.00 0.00 0.
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