Bridgman, Michigan Property Taxes
The median property tax rate in Bridgman, MI is 1.03%, slightly above the national median of 0.99% but below the Michigan state median of 1.07%. With a median home value of $248,600, the typical annual property tax bill in Bridgman reaches $2,180, which is lower than the national median of $2,690. Property taxes in Bridgman are calculated based on the assessed value, which is often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Bridgman’s property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Bridgman or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bridgman, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$2,561
Ownwell’s Bridgman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bridgman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bridgman to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Bridgman, Michigan
Property taxes in Bridgman, Michigan, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Bridgman is 1.03%, higher than the U.S. national median of 0.99%. Local government entities within Bridgman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bridgman estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Bridgman's effective property tax rate to other areas in Berrien County and the national median. For comparison, the zip code 49106 has the highest median property tax rate of 1.03%, while the same zip code also has the lowest median tax rate of 1.03%. Understanding how these areas compare with Bridgman provides valuable insights into the varying tax landscape across Berrien County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bridgman Tax Rate
1.03%
Average Berrien County Tax Rate
0.85%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bridgman, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49106 | 0.46% | 0.53% | 1.03% | 1.41% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across Bridgman, Michigan
In Bridgman, Michigan, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Berrien County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Bridgman, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Bridgman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median property tax bill in Bridgman is $2,180, with the zip code 49106 reflecting this value.
Average Bridgman Assessed Value
$248,600
Average Berrien County Assessed Value
$183,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bridgman, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49106 | $132,200 | $174,000 | $248,600 | $372,000 | $563,460 |
Source: Ownwell
Property Tax Bills Across Bridgman, Michigan
In Bridgman, located in Berrien County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value typically represents 50% of the market value of the property. For instance, with a median home price of $248,600, homeowners can expect the assessed value to be around $124,300. The property tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions. In Bridgman, the 25th percentile tax bill is $1,431, while the 75th percentile tax bill is $3,889, indicating a range of tax burdens depending on property specifics. The highest median tax bill in the area is $2,180, which is higher than the national median property tax rate of 0.99%. These tax bills can significantly impact homeowners, affecting monthly mortgage payments and overall affordability. Understanding these factors helps homeowners budget effectively and anticipate future expenses.
Average Bridgman Tax Bill
$2,180
Average Berrien County Tax Bill
$1,463
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Bridgman, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49106 | $1,039 | $1,431 | $2,180 | $3,889 | $6,304 |
Source: Ownwell