Grosse Pointe Shores, Michigan Property Taxes
The median property tax rate in Grosse Pointe Shores, MI is 1.85%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Grosse Pointe Shores at $525,800, the typical annual property tax bill reaches $9,248, far exceeding the national median of $2,690. Property taxes in Grosse Pointe Shores 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 Grosse Pointe Shores' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Grosse Pointe Shores 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
Grosse Pointe Shores, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.85%
Estimate Property Tax Bill
$9,727
Ownwell’s Grosse Pointe Shores Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grosse Pointe Shores with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grosse Pointe Shores 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 Grosse Pointe Shores, Michigan
Property taxes in Grosse Pointe Shores, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grosse Pointe Shores is 1.85%, significantly higher than the U.S. national median of 0.99%. Local government entities within Grosse Pointe Shores set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grosse Pointe Shores 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 Grosse Pointe Shores' effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 48236 has the highest median property tax rate of 1.85%, while the same zip code also has the lowest median tax rate of 1.85%. Understanding how these areas compare with Grosse Pointe Shores 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 Grosse Pointe Shores Tax Rate
1.85%
Average Macomb County Tax Rate
1.19%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grosse Pointe Shores, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48236 | 1.12% | 1.40% | 1.85% | 2.09% | 2.17% |
Source: Ownwell
Property Tax Assessment Values Across Grosse Pointe Shores, Michigan
In Grosse Pointe Shores, 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 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 Grosse Pointe Shores, 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 Grosse Pointe Shores helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 48236 has the highest median tax bill at $9,248, while the lowest median tax bill also stands at $9,248.
Property Tax Assessment Values Across Grosse Pointe Shores, Michigan
Source: Ownwell
$78,140
$314,270
$550,400
Average Grosse Pointe Shores Assessed Value
$525,800
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 Grosse Pointe Shores, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48236 | $50,200 | $455,600 | $525,800 | $628,200 | $1,403,360 |
Source: Ownwell
Property Tax Bills Across Grosse Pointe Shores, Michigan
In Grosse Pointe Shores, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The tax rate applied to this assessed value determines the final tax bill. In Macomb County, where Grosse Pointe Shores is located, the median home price is $525,800. Homeowners can expect tax bills to vary significantly, with the 25th percentile at $5,951 and the 75th percentile at $12,008. For those at the 90th percentile, tax bills can reach up to $26,750. The property tax rate in this area is higher than the national median property tax rate of 0.99%, reflecting the relatively high property values. This means that homeowners in Grosse Pointe Shores may face substantial tax bills, impacting their overall cost of living. The highest and lowest median tax bills in the area are both recorded at $9,248, indicating a consistent tax rate across different properties in the same zip code, 48236.
Average Grosse Pointe Shores Tax Bill
$9,248
Average Macomb County Tax Bill
$2,603
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Grosse Pointe Shores, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48236 | $1,286 | $5,951 | $9,248 | $12,008 | $26,750 |
Source: Ownwell