http://www.trulia.com/voices/General_Area/What_are_the_Property_and_Income_taxes_in_michigan-74322en-ushttp://www.trulia.com/voices/profile/Real_Estate_Pro-48170-173414/http://www.trulia.com/voices/profile/Real_Estate_Pro-48170-173414/Hi James, Like Barry said, property taxes will differ depending on where the home is located. Below is the property tax estimation website for Michigan. Just plug in the location (city and county) as well as estimated assessed value (which is usually 1/2 of the actual value of the home) and it will give you an estimate of both homesteaded and non-homesteaded property taxes. If you plan on residing in MI and making the home your primary residence you can claim it as your homestead and pay the lower property taxes. https://treas-secure.state.mi.us/ptestimator/PTEstimator.asp As far as state income taxes go, Michigan's tax rate is 4.35% of your federal adjusted gross income. In addition, some municipalities such as as Detroit impose additional income taxesSun, 21 Dec 2008 12:29:46 -0800http://www.trulia.com/voices/profile/Real_Estate_Pro-92648-102841/http://www.trulia.com/voices/profile/Real_Estate_Pro-92648-102841/Hi James, Property taxes will probably vary by county. I would suggest you go to the website for the county in which you are thinking of making a purchase and check. I represented an investor a while back who purchased a property in Battle Creek. The tax rate there is about 3% (of the value of the property) on commercial property. It is a little less on residential property. The value is not necessarily the "purchase price", but a county determined value based on other property in the area. They may use a weighted average, or % of value in calculating the taxes. As for income tax, agin, check with the state website. You would be surprised how much information you can get from these websites. There may also be links, addresses, or phone numbers so you can ask questions directly. I have found that someone almost always replies within a short period of time. If you have trouble finding the websites, or getting the information you need from them, let me know and I will try and help you. Good luck, Barry Bussiere Pacific Strand Real EstateSat, 20 Dec 2008 17:26:59 -0800