Escanaba City Council approves millage rate increase
ESCANABA, Mich. (WLUC) - It’s going to cost a little more to live in Escanaba next year.
On Thursday, the Escanaba City Council approved a new millage rate of 17.442 in order to lower its debt, this is only an increase of .442 mills from the past year’s 17 mill rate. Homeowners should see a 1% increase in their taxes next year and businesses should see a less than 1% increase.
Escanaba City Assessor James McNeil said there’s a way for home and business owners to find out their new property tax.
“If you take the market value of the property and divide it by 2 you would get your taxable value, you can divide your taxable value by 1,000 and then multiply by the millage rate (17.442) in other words, a mill is 1/1000th of taxable value,” said McNeil.
This new millage rate also increases the city’s tax levy by 2.6%.
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