Trufant, Michigan Property Taxes
The median property tax rate in Trufant, MI is 0.45%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Trufant at $264,400, the typical annual property tax bill is $1,116, well below the national median of $2,690. Property taxes in Trufant are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Trufant'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 Trufant or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Trufant, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$1,190
Ownwell’s Trufant Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Trufant with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Trufant to estimate your property tax bill. This valuable tool helps you understand potential tax liabilities effortlessly. For those interested in neighborhood-specific trends, additional localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Trufant, Michigan
Property taxes in Trufant, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Trufant is 0.45%, which is significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Trufant set these rates annually, and they can vary significantly across different neighborhoods. Each year, Trufant 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 Trufant's effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 49347 has both the highest and lowest median property tax rate of 0.45%, reflecting a uniform rate across the area. Understanding how these cities compare with Trufant provides valuable insights into the varying tax landscape across Kent County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Trufant Tax Rate
0.45%
Average Kent County Tax Rate
0.89%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Trufant, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49347 | 0.42% | 0.44% | 0.45% | 0.50% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Trufant, Michigan
In Trufant, 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 Kent 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 Trufant, 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 Trufant helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 49347, amounting to $1,116, which is the same for the lowest median tax bill in the region.
Average Trufant Assessed Value
$264,400
Average Kent County Assessed Value
$248,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Trufant, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49347 | $188,720 | $231,200 | $264,400 | $295,200 | $321,560 |
Source: Ownwell
Property Tax Bills Across Trufant, Michigan
Property tax bills in Trufant, located in Kent County, MI, are calculated based on the assessed value of the property, which is typically a percentage of its market value. The median home price in Trufant is $264,400, and the tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Trufant can expect their property tax bills to vary. The 25th percentile tax bill is around $1,038, while the 75th percentile tax bill reaches approximately $1,488. At the 90th percentile, the tax bill can go up to $1,675. These variations highlight how differing property values and assessments impact the final tax amount. Compared to the national median property tax rate of 0.99%, Trufant's rates reflect local economic conditions and municipal budget needs. For homeowners, understanding these factors is crucial as property taxes directly affect annual household expenses and long-term financial planning.
Average Trufant Tax Bill
$1,116
Average Kent County Tax Bill
$2,321
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Trufant, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49347 | $841 | $1,038 | $1,116 | $1,488 | $1,675 |
Source: Ownwell