Walkerville, Michigan Property Taxes
The median property tax rate in Walkerville, MI is 1.18%, higher than both the national median of 0.99% and Michigan's state median of 1.07%. With the median home value in Walkerville at $99,400, the typical annual property tax bill reaches $1,191, which is below the national median of $2,690. Property taxes in Walkerville 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 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
1.18%
Estimate Property Tax Bill
$1,173
Ownwell’s Walkerville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Walkerville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Walkerville 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 Walkerville, Michigan
Property taxes in Walkerville, Michigan, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Walkerville is 1.18%, which is higher than 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 zip code 49459 has both the highest and lowest median property tax rate of 1.18%. Understanding how these areas compare with Walkerville provides valuable insights into the varying tax landscape across Oceana County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Walkerville Tax Rate
1.18%
Average Oceana County Tax Rate
1.08%
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 | 0.71% | 0.92% | 1.18% | 1.55% | 1.99% |
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 Oceana 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. With a median home price of $99,400, the tax bill can vary significantly, ranging from $690 at the 25th percentile to $3,049 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Walkerville Assessed Value
$99,400
Average Oceana County Assessed Value
$154,800
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 | $27,200 | $55,800 | $99,400 | $174,200 | $264,000 |
Source: Ownwell
Property Tax Bills Across Walkerville, Michigan
In Walkerville, MI, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. This assessed value is typically a percentage of the market value of the home. For instance, with a median home price of $99,400, homeowners can expect their tax bill to vary significantly. The tax bill for the 25th percentile is $690, while it rises to $1,933 for the 75th percentile, and can reach up to $3,049 for the 90th percentile. The highest median tax bill in the area is $1,191, which is consistent across the 49459 zip code. These figures illustrate the variability in property tax burdens, influenced by property values and local tax rates. Compared to the national median property tax rate of 0.99%, Walkerville homeowners may find their tax bills relatively moderate or high, depending on their property's assessed value. This variability can significantly impact homeowners' financial planning and overall affordability of living in Walkerville.
Average Walkerville Tax Bill
$1,191
Average Oceana County Tax Bill
$1,632
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 | $386 | $690 | $1,191 | $1,933 | $3,049 |
Source: Ownwell