Swartz Creek, Michigan Property Taxes
The median property tax rate in Swartz Creek, MI is 0.76%, which is notably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Swartz Creek at $187,400, the typical annual property tax bill amounts to $1,416, falling well below the national median of $2,690. Property taxes in Swartz Creek 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 Swartz Creek'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 Swartz Creek 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
Swartz Creek, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$1,424
Ownwell’s Swartz Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Swartz Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Swartz Creek 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 Swartz Creek, Michigan
Property taxes in Swartz Creek, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Swartz Creek is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Swartz Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Swartz Creek 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 Swartz Creek's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 48473 has both the highest and the lowest median property tax rate of 0.76%. Understanding how these cities compare with Swartz Creek provides valuable insights into the varying tax landscape across Genesee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Swartz Creek Tax Rate
0.76%
Average Genesee County Tax Rate
0.93%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Swartz Creek, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48473 | 0.36% | 0.43% | 0.76% | 1.13% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across Swartz Creek, Michigan
In Swartz Creek, 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 Genesee 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 Swartz Creek, 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. Swartz Creek's median home price is $187,400, with the 25th percentile tax bill at $927 and the 75th percentile tax bill at $2,137. The highest and lowest median tax bill in the area is $1,416, found in the 48473 zip code. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. This awareness helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Swartz Creek Assessed Value
$187,400
Average Genesee County Assessed Value
$139,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Swartz Creek, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48473 | $118,000 | $152,800 | $187,400 | $238,600 | $311,240 |
Source: Ownwell
Property Tax Bills Across Swartz Creek, Michigan
In Swartz Creek, located in Genesee 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 is a percentage of the market value, reflecting the property's worth in the current real estate market. For instance, with a median home price of $187,400, homeowners in Swartz Creek can expect their property tax bills to vary widely. At the 25th percentile, the tax bill is approximately $927, while at the 75th percentile, it rises to around $2,137. For those in the 90th percentile, it can reach up to $2,996. These tax bills are influenced by several factors including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Swartz Creek's property tax rate reflects the local economic conditions and public service funding needs. Homeowners need to be aware of these factors as they significantly impact annual financial planning and overall homeownership costs.
Average Swartz Creek Tax Bill
$1,416
Average Genesee County Tax Bill
$1,090
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Swartz Creek, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48473 | $607 | $927 | $1,416 | $2,137 | $2,996 |
Source: Ownwell