Grayling, Michigan Property Taxes
The median property tax rate in Grayling, MI is 1.10%, which is higher than both the national median of 0.99% and Michigan's state median of 1.07%. With a median home value of $137,200 in Grayling, the typical annual property tax bill reaches $1,338, which is below the national median of $2,690. Property taxes in Grayling are calculated based on the assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Grayling'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 Grayling 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
Grayling, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$1,509
Ownwell’s Grayling Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grayling with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grayling 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 Grayling, Michigan
Property taxes in Grayling, Michigan, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Grayling is 1.10%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Grayling set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grayling 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 Grayling's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49738 zip code has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Grayling provides valuable insights into the varying tax landscape across Crawford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grayling Tax Rate
1.10%
Average Kalkaska County Tax Rate
0.93%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grayling, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49738 | 0.64% | 0.87% | 1.09% | 1.48% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Grayling, Michigan
In Grayling, 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 Kalkaska 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 Grayling, 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 Grayling helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 49738 has the highest and lowest median tax bill, both at $1,338.
Average Grayling Assessed Value
$137,200
Average Kalkaska County Assessed Value
$137,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grayling, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49738 | $34,940 | $73,650 | $138,300 | $212,550 | $321,220 |
Source: Ownwell
Property Tax Bills Across Grayling, Michigan
In Grayling, MI, property tax bills are calculated based on the assessed value of a home, which is typically half of its market value. For instance, with a median home price of $137,200, the assessed value would be approximately $68,600. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors influence the tax bill, including property location, home size, and any applicable exemptions. In Grayling, the tax bills can vary significantly, with the 25th percentile at $681 and the 75th percentile reaching $2,426. The highest median tax bill in the area is $1,338, found in zip code 49738. These property taxes fund essential services like schools, infrastructure, and public safety, directly impacting homeowners by contributing to the quality of community resources. Compared to the national median property tax rate of 0.99%, Grayling's tax rates can be considered moderate, providing a balanced approach to funding local services while maintaining affordability for residents.
Average Grayling Tax Bill
$1,338
Average Kalkaska County Tax Bill
$1,200
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Grayling, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49738 | $391 | $678 | $1,338 | $2,441 | $3,944 |
Source: Ownwell