Chesterfield, Michigan Property Taxes
The median property tax rate in Chesterfield, MI is 0.85%, which is lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Chesterfield at $252,400, the typical annual property tax bill is $2,182, falling below the national median of $2,690. Property taxes in Chesterfield are calculated based on the tax assessed value, which often comes in lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Chesterfield’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 Chesterfield 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
Chesterfield, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$2,145
Ownwell’s Chesterfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chesterfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chesterfield 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 Chesterfield, Michigan
Property taxes in Chesterfield, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chesterfield is 0.85%, lower than the Michigan state median and the U.S. national median of 0.99%. Local government entities within Chesterfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chesterfield 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 Chesterfield's effective property tax rate to other areas in Michigan and the national median. For comparison, the 48051 zip code has the highest median property tax rate of 0.90%, while the 48047 zip code has the lowest median tax rate of 0.82%. Understanding how these areas compare with Chesterfield provides valuable insights into the varying tax landscape across Macomb County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chesterfield Tax Rate
0.85%
Average Macomb County Tax Rate
1.19%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chesterfield, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48047 | 0.64% | 0.71% | 0.82% | 1.02% | 1.17% |
| 48051 | 0.66% | 0.74% | 0.90% | 1.07% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Chesterfield, Michigan
In Chesterfield, Michigan, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Macomb 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 Chesterfield, 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 instance, Chesterfield's median home price is $252,400, with tax bills ranging from $1,576 at the 25th percentile to $3,765 at the 90th percentile. The highest median tax bill of $2,205 is in zip code 48047, while the lowest is $2,135 in zip code 48051. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Chesterfield Assessed Value
$252,400
Average Macomb County Assessed Value
$209,990
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chesterfield, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48047 | $114,200 | $194,200 | $260,200 | $330,000 | $391,800 |
| 48051 | $161,000 | $187,800 | $243,600 | $293,800 | $350,400 |
Source: Ownwell
Property Tax Bills Across Chesterfield, Michigan
In Chesterfield, MI, property tax bills are determined based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. For instance, with a median home price of $252,400, Chesterfield homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $1,576, while at the 75th percentile, it rises to approximately $2,910. The 90th percentile sees tax bills as high as $3,765. Factors influencing these tax bills include the home's market value, local tax rates, and any applicable exemptions or deductions. Homeowners in Chesterfield face tax bills that reflect both their property's value and the local tax environment. Compared to the national median property tax rate of 0.99%, Chesterfield's property tax bills can significantly impact household budgets, especially in areas with higher assessed values. Understanding these factors is crucial for homeowners aiming to manage their finances effectively.
Average Chesterfield Tax Bill
$2,182
Average Macomb County Tax Bill
$2,603
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Chesterfield, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48047 | $1,025 | $1,534 | $2,205 | $2,954 | $3,866 |
| 48051 | $1,260 | $1,659 | $2,135 | $2,832 | $3,544 |
Source: Ownwell