Park Terrace
Closed-sale statistics for Park Terrace, with the property-tax reality attached — computed 2025-09-01 to 2026-09-01, not scraped from listings.
- Median sale price
- $198,500
- Median days on market
- 6
- List-to-sale ratio
- 104.8%
8 closed sales, 2025-09-01 to 2026-09-01
What taxes actually become here
Michigan taxable value uncaps the year after you buy (MCL 211.27a). At this subdivision's median price of $198,500, in Riverview Community School District at 47.54 homestead mills, the year-two bill is approximately $4,719 — regardless of what the seller currently pays. The listing will almost certainly show less. Run your own number.
How Park Terrace compares in Riverview
Of the 5 Riverview subdivisions and condo projects we publish statistics for, Park Terrace's $198,500 median ranks 4 of 5 — 4% below the tracked-Riverview median of $206,000.
| Project | Median sale | Sales | Year-2 tax |
|---|---|---|---|
| Riverview Glens | $359,500 | 10 | $8,546 |
| Huntington Meadows | $280,000 | 9 | $6,656 |
| Holtzman & Silvermans 5 | $206,000 | 13 | $4,897 |
| Park Terrace | $198,500 | 8 | $4,719 |
| Riverview Gardens | $182,450 | 12 | $4,337 |
Year-2 tax is the estimated post-uncapping homestead bill at each project's median price. Ranked by median closed price, 2025-09-01 to 2026-09-01.
This is the median. Your number depends on the address.
Median statistics cannot price a specific house. For one address we can compute the year-two tax bill, the escrow impact, eligibility for down-payment programs, and — if you own here — what a sale would actually net after transfer tax and payoff.
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Common questions
What is the median home price in Park Terrace?
The median closed sale price in Park Terrace (Riverview) is $198,500, from 8 sales 2025-09-01 to 2026-09-01.
What will property taxes be after buying in Park Terrace?
At the median price, taxable value uncaps to roughly $99,250 and the year-two bill in Riverview Community School District is approximately $4,719 at homestead rates.
How does Park Terrace compare with other Riverview subdivisions?
Its $198,500 median ranks 4 of 5 Riverview projects we track — 4% below the tracked-city median of $206,000.
More context: Riverview property tax rates · school district breakdowns · all calculators