Always disregard the current taxes! Taxable value of property in MI is reassessed at time of purchase and then capped for as long as the new owner owns the property. Therefore, the current taxes will be very low compared to what you will pay, if the current owner acquired the property many years ago. Also, if the current owner has a homestead exemption, the current property tax bill for the current owner will be about 40% less than even the same owner will pay without the exemption.
For a quick estimate, I recommend using 2% of the purchase price to estimate your annual property tax bill. The amount estimated should be considered a worst case scenario. You will pay an annual amount that is as much as 2% of the value of your home. If it is located in the township, outside of city or village limits, it may go down to about 1.75%. Both numbers are without the homestead exemption which would lower it by more than 40%. One homestead exemption is available to residents of Michigan if the property is your primary residence. There are several ways to qualify, but claiming a homestead exemption on more than one property, in any state, is a sure way to be disqualified.
If you need professional guidance about the pros and cons of claiming a homestead exemption on your Michigan property, please ask me. I will connect you with experts who can help you make the best decisions.
Here is the link to the MI state tax calculator. Use 50% of purchase price for the SEV.
Read more about Michigan real estate taxes.