Income Tax Calculator

On Tuesday May 3rd, Wyoming residents will have the opportunity to vote on two separate but related ballot measures that would authorize an income tax in Wyoming of up to 1% and lower the City of Wyoming property tax millage by more than half. The proposal would generate an estimated $6 million in additional revenue, which would support additional Fire, Police and Parks needs. To learn more about these proposals visit the City of Wyoming 2022 Ballot Proposals webpage.

How to use this calculator

 This calculator is designed to use a few basic pieces of information to estimate your total City of Wyoming tax burden now and what it would be if the income tax and millage reduction proposals pass in May 2022. In order to use the calculator select the option that best describes you and fill in the applicable fields. Those that do not apply to you will be deactivated.

Make sure you are using the correct Taxable Property Value. This is not the same as the market value of your home. To be sure you are using the right number, look up your property here and use the number in the "Taxable Value" field. If you have questions about what income is taxable, scroll down to the "Defining Taxable Income" section to learn more.

What is taxable income?

This section summarizes Chapter 2 of Public Act 284 of 1964, the City Income Tax Act. You can read the full text of the legislation on the Michigan Legislature Website. 

• For non-residents, the same types of income are taxable but only the portion of the income that is earned within the City of Wyoming.
• For corporations, this tax would apply on the taxable net profits of a corporation doing business in the city. We strongly encourage businesses who have questions about their specific tax situation and how this proposal may affect them to consult with their tax accountant.

For more information on which types of income are taxable, click here. 

Calculator Assumptions

This calculator uses the estimated maximum City of Wyoming property tax rate in 2023 ($11.8974 per $1,000 of taxable value) to calculate Current Wyoming Taxes. Proposed Wyoming Taxes are calculated using the proposed maximum tax rate of $5.0000 per $1,000 of taxable value and an income tax of 0.8% for residents and 0.4% for non-residents. A $2,000 deduction is applied to the net taxable income for each member of the household.

Disclaimer

This calculator is meant for illustrative purposes only.  Additional deductions and exemptions may be applied to actual tax bills.