Grosse Pointe, Michigan Property Taxes
The median property tax rate in Grosse Pointe, MI is 1.35%, 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 at $320,200, the typical annual property tax bill reaches $3,806, exceeding the national median of $2,690. Property taxes in Grosse Pointe 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'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 Grosse Pointe 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, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$4,323
Ownwell’s Grosse Pointe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grosse Pointe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grosse Pointe 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 Wayne County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Grosse Pointe, Michigan
Property taxes in Grosse Pointe, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grosse Pointe is 1.35%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Grosse Pointe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grosse Pointe 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's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48236 zip code has the highest median property tax rate of 1.97%, while the 48230 zip code has the lowest median tax rate of 1.20%. Understanding how these cities compare with Grosse Pointe provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grosse Pointe Tax Rate
1.35%
Average Wayne County Tax Rate
1.44%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grosse Pointe, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48230 | 0.89% | 1.03% | 1.20% | 1.50% | 1.69% |
| 48236 | 1.26% | 1.64% | 1.97% | 2.54% | 3.07% |
Source: Ownwell
Property Tax Assessment Values Across Grosse Pointe, Michigan
In Grosse Pointe, 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 Wayne 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, 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 example, the highest median tax bill in the area is $4,787 in zip code 48230, while the lowest is $1,205 in zip code 48236. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Grosse Pointe Assessed Value
$320,200
Average Wayne County Assessed Value
$126,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grosse Pointe, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48230 | $209,000 | $290,800 | $388,000 | $531,800 | $722,880 |
| 48236 | $1,800 | $44,800 | $64,000 | $76,000 | $144,551 |
Source: Ownwell
Property Tax Bills Across Grosse Pointe, Michigan
In Grosse Pointe, located in Wayne County, MI, property tax bills are calculated based on the assessed value of the home, which is a percentage of its market value. The city's tax rate is applied to this assessed value to determine the annual property tax bill. Several factors influence this calculation, including the home's location, size, and any applicable exemptions or deductions. For homeowners in Grosse Pointe, the tax bill can vary significantly. The median home price in the area is $320,200. At the 25th percentile, homeowners can expect a tax bill of around $1,508, while those in the 75th percentile may see bills as high as $5,891. The top 10% of properties face tax bills nearing $8,971. The highest median tax bill in the area is $4,787, found in zip code 48230, while the lowest is $1,205 in zip code 48236. Understanding these factors is crucial for homeowners as property taxes represent a significant annual expense, impacting overall affordability and long-term financial planning.
Average Grosse Pointe Tax Bill
$3,806
Average Wayne County Tax Bill
$1,625
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Grosse Pointe, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48230 | $2,002 | $3,407 | $4,787 | $6,963 | $10,177 |
| 48236 | $53 | $885 | $1,205 | $1,609 | $2,665 |
Source: Ownwell