Nashville, Michigan Property Taxes
The median property tax rate in Nashville, MI is 0.43%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $177,600 in Nashville, the typical annual property tax bill is $747, well below the national median of $2,690. Property taxes in Nashville are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Nashville'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 Nashville 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
Nashville, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$764
Ownwell’s Nashville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Nashville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nashville 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 Nashville, Michigan
Property taxes in Nashville, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nashville is 0.43%, significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Nashville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nashville 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 Nashville's effective property tax rate to other counties in Michigan and the national median. For comparison, the ZIP code 49073 has both the highest and lowest median property tax rate of 0.43%. Understanding how these cities compare with Nashville 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 Nashville Tax Rate
0.43%
Average Eaton County Tax Rate
0.81%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nashville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49073 | 0.28% | 0.39% | 0.43% | 0.48% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Nashville, Michigan
In Nashville, 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 Nashville, 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 Nashville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Eaton County is $747 in the 49073 zip code, while the lowest is also $747 in the same zip code.
Average Nashville Assessed Value
$177,600
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 Nashville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49073 | $69,200 | $127,000 | $177,600 | $225,400 | $276,800 |
Source: Ownwell
Property Tax Bills Across Nashville, Michigan
In Nashville, 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 a home with a median price of $177,600, this would result in an assessed value of approximately $88,800. The property tax rate is then applied to this assessed value to determine the tax bill. Various factors such as local tax rates, exemptions, and any special assessments also play a role in the final amount. Homeowners in Nashville can expect their tax bills to vary significantly. The 25th percentile tax bill is around $503, while the 75th percentile tax bill reaches $980. For those in the 90th percentile, the tax bill can be as high as $1,208. Compared to the national median property tax rate of 0.99%, Nashville's property tax rates can create a range of financial impacts for homeowners, influencing decisions on buying, selling, or investing in property in the area.
Average Nashville Tax Bill
$747
Average Eaton County Tax Bill
$1,470
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Nashville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49073 | $282 | $503 | $747 | $980 | $1,208 |
Source: Ownwell