Edenville, Michigan Property Taxes
The median property tax rate in Edenville, MI is 0.41%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $156,300 in Edenville, the typical annual property tax bill is $741, which is well below the national median of $2,690. Property taxes in Edenville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Edenville'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 Edenville 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
Edenville, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$641
Ownwell’s Edenville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Edenville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Edenville 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 Edenville, Michigan
Property taxes in Edenville, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Edenville is 1.62%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Edenville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edenville 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 Edenville's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48657 zip code has the highest median property tax rate of 1.62%, while 48657 also has the lowest median tax rate of 1.62%. Understanding how these cities compare with Edenville provides valuable insights into the varying tax landscape across Midland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edenville Tax Rate
0.41%
Average Midland County Tax Rate
0.54%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edenville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48620 | 0.34% | 0.38% | 0.41% | 0.48% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Edenville, Michigan
In Edenville, 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 Midland 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 Edenville, 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. For instance, the median home price in Edenville is $156,300, with property tax bills ranging from $448 at the 25th percentile to $1,245 at the 90th percentile. Notably, the highest and lowest median tax bills in the area are both $741, found in the 48620 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Edenville Assessed Value
$156,300
Average Midland County Assessed Value
$158,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Edenville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48620 | $73,800 | $104,100 | $156,300 | $212,750 | $320,960 |
Source: Ownwell
Property Tax Bills Across Edenville, Michigan
In Edenville, property tax bills are calculated based on the assessed value of a home, which is determined by the Midland County assessor's office. This assessed value is typically a percentage of the home's market value. Once the assessed value is determined, it is multiplied by the local tax rate to calculate the annual property tax bill. The median home price in Edenville is $156,300, and the property tax rate in Midland County is relatively moderate compared to the national median property tax rate of 0.99%. Homeowners in Edenville can expect to pay property taxes ranging from $448 at the 25th percentile to $1,245 at the 90th percentile. The highest and lowest median tax bills in the area are both $741, indicating a consistent tax rate across different property values. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for Edenville residents. Homeowners should be aware of these factors as they significantly affect their annual financial responsibilities.
Average Edenville Tax Bill
$741
Average Midland County Tax Bill
$1,273
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Edenville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48620 | $342 | $448 | $741 | $973 | $1,245 |
Source: Ownwell