Quincy, Michigan Property Taxes
The median property tax rate in Quincy, MI is 0.36%, considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Quincy at $154,488, the typical annual property tax bill reaches $592, significantly below the national median of $2,690. Property taxes in Quincy are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Quincy'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 Quincy 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
Quincy, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$556
Ownwell’s Quincy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Quincy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Quincy 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 Quincy, Michigan
Property taxes in Quincy, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Quincy is 0.36%, significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Quincy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Quincy 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 Quincy's effective property tax rate to other counties in Michigan and the national median. Understanding how these cities compare with Quincy provides valuable insights into the varying tax landscape across Hillsdale County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Quincy Tax Rate
0.36%
Average Hillsdale County Tax Rate
0.41%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Quincy, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49082 | 0.26% | 0.29% | 0.36% | 0.44% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Quincy, Michigan
In Quincy, 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 Hillsdale 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 Quincy, 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. For example, the highest median tax bill in Quincy is $592 in the 49082 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Quincy Assessed Value
$154,488
Average Hillsdale County Assessed Value
$141,139
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Quincy, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49082 | $46,497 | $95,523 | $154,488 | $243,089 | $375,590 |
Source: Ownwell
Property Tax Bills Across Quincy, Michigan
In Quincy, MI, property tax bills are calculated based on the assessed value of your home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of your property. Homeowners in Quincy can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is approximately $354, while at the 75th percentile, it rises to about $881. At the 90th percentile, homeowners might pay around $1273 annually. The highest and lowest median tax bills in Quincy are both recorded at $592 in the 49082 zip code. These property taxes fund essential local services such as schools, infrastructure, and public safety. Compared to the national median property tax rate of 0.99%, Quincy offers a relatively affordable rate, making it an attractive option for homeowners looking to balance quality services with manageable tax obligations. The variability in tax bills underscores the importance of understanding your property's assessed value and its implications on your annual expenses.
Average Quincy Tax Bill
$592
Average Hillsdale County Tax Bill
$685
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Quincy, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49082 | $187 | $354 | $592 | $881 | $1,273 |
Source: Ownwell