Lyons, Michigan Property Taxes
The median property tax rate in Lyons, MI is 0.50%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Lyons, the typical annual property tax bill is $680, which is well below the national median of $2,690. Property taxes in Lyons are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Lyons' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lyons 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
Lyons, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$602
Ownwell’s Lyons Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lyons with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lyons 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 Lyons, Michigan
Property taxes in Lyons, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lyons is 0.50%, lower than the U.S. national median of 0.99%. Local government entities within Lyons set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lyons 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 Lyons's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48851 zip code has the highest median property tax rate of 0.50%, while the 48851 zip code also has the lowest median tax rate of 0.50%. Understanding how these cities compare with Lyons provides valuable insights into the varying tax landscape across Ionia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lyons Tax Rate
0.50%
Average Ionia County Tax Rate
0.49%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lyons, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48851 | 0.33% | 0.40% | 0.50% | 0.79% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Lyons, Michigan
In Lyons, 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 Ionia 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 Lyons, 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 Lyons helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $680, found in the 48851 zip code.
Average Lyons Assessed Value
$120,400
Average Ionia County Assessed Value
$146,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lyons, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48851 | $44,520 | $73,000 | $120,400 | $190,000 | $277,120 |
Source: Ownwell
Property Tax Bills Across Lyons, Michigan
In Lyons, located in Ionia County, MI, property tax bills are calculated based on the assessed value of the property, which is often a percentage of the market value. For homeowners in Lyons, the median home price is $120,400. Property tax rates in this area can vary, but the median tax bill stands at $680. Factors that influence the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Lyons may find their tax bills ranging from $465 at the 25th percentile to $951 at the 75th percentile, with the top 10% of tax bills reaching up to $1,339. This variation can significantly impact household budgets, especially when compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their finances more effectively.
Average Lyons Tax Bill
$680
Average Ionia County Tax Bill
$910
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Lyons, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48851 | $271 | $465 | $680 | $951 | $1,339 |
Source: Ownwell