Dimondale, Michigan Property Taxes
The median property tax rate in Dimondale, MI is 0.50%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $229,800 in Dimondale, the typical annual property tax bill is $1,257, which is well below the national median of $2,690. Property taxes in Dimondale are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Dimondale's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Dimondale or another part of Eaton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dimondale, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$1,149
Ownwell’s Dimondale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dimondale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dimondale 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 Dimondale, Michigan
Property taxes in Dimondale, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dimondale is 0.50%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Dimondale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dimondale 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 Dimondale's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 48821 has the highest median property tax rate of 0.50%, while the same zip code also has the lowest median tax rate of 0.50%. Understanding how these areas compare with Dimondale provides valuable insights into the varying tax landscape across Eaton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dimondale Tax Rate
0.50%
Average Eaton County Tax Rate
0.81%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dimondale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48821 | 0.39% | 0.43% | 0.50% | 0.77% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Dimondale, Michigan
In Dimondale, 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 Eaton 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 Dimondale, 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 Dimondale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Dimondale are both $1257, found in the 48821 zip code.
Average Dimondale Assessed Value
$229,800
Average Eaton County Assessed Value
$184,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dimondale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48821 | $129,640 | $173,800 | $229,800 | $288,200 | $364,040 |
Source: Ownwell
Property Tax Bills Across Dimondale, Michigan
In Dimondale, located in Eaton County, MI, property tax bills are calculated based on the assessed value of a home, which is typically 50% of its market value. For example, with a median home price of $229,800, the assessed value would be approximately $114,900. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors influence the final tax bill, including the home's location within the county and any applicable exemptions or deductions. In Dimondale, the 25th percentile tax bill is around $902, while the 75th percentile reaches $1806, and the 90th percentile is $2255. These property tax rates impact homeowners by affecting their annual financial commitments and potentially influencing decisions related to buying or selling property. Compared to the national median property tax rate of 0.99%, Dimondale's property tax rates provide a useful benchmark for understanding local tax obligations.
Average Dimondale Tax Bill
$1,257
Average Eaton County Tax Bill
$1,470
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Dimondale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48821 | $656 | $902 | $1,257 | $1,806 | $2,255 |
Source: Ownwell