Walkerville, Michigan Property Taxes
The median property tax rate in Walkerville, MI is 0.36%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Walkerville at $112,800, the typical annual property tax bill amounts to $368, well below the national median of $2,690. Property taxes in Walkerville are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Walkerville'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 Walkerville 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
Walkerville, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$406
Ownwell’s Walkerville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Walkerville using just two data points. By inputting your property's estimated assessed value, the calculator applies the median tax rate in Walkerville to estimate your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in observing trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is the figure assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Walkerville, Michigan
Property taxes in Walkerville, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Walkerville is 1.45%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Walkerville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Walkerville 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 Walkerville's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in Michigan is found in 48009, with a rate of 2.78%, while the lowest median tax rate is in 48137, at 0.83%. Understanding how these cities compare with Walkerville provides valuable insights into the varying tax landscape across Newaygo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Walkerville Tax Rate
0.36%
Average Newaygo County Tax Rate
0.43%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Walkerville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49459 | 0.23% | 0.27% | 0.36% | 0.43% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Walkerville, Michigan
In Walkerville, 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 Newaygo 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 Walkerville, 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 Walkerville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the 49459 zip code both stand at $368.
Average Walkerville Assessed Value
$112,800
Average Newaygo County Assessed Value
$143,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Walkerville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49459 | $40,420 | $62,450 | $112,800 | $158,000 | $212,400 |
Source: Ownwell
Property Tax Bills Across Walkerville, Michigan
In Walkerville, property tax bills are calculated based on the assessed value of the home, which is typically a percentage of the market value. For instance, with a median home price of $112,800, homeowners can expect their tax bill to vary significantly. Factors like property size, location, and improvements play a crucial role in determining the assessed value. In Newaygo County, where Walkerville is located, the median tax bill stands at $368.00, which is relatively low compared to the national median property tax rate of 0.99%. Homeowners in Walkerville might see tax bills ranging from the 25th percentile at $202 to the 75th percentile at $600, with the 90th percentile hitting $926. This range illustrates the variability based on individual property assessments. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly. Lower property taxes can make homeownership more affordable, but it's essential to stay informed about potential changes in assessed values and tax rates.
Average Walkerville Tax Bill
$368
Average Newaygo County Tax Bill
$667
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Walkerville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49459 | $129 | $202 | $368 | $600 | $926 |
Source: Ownwell