Woodland, Michigan Property Taxes
The median property tax rate in Woodland, MI is 1.00%, slightly higher than the national median of 0.99% but lower than the Michigan state median of 1.07%. With a median home value of $152,400 in Woodland, the typical annual property tax bill amounts to $1,541, which is below the national median of $2,690. Property taxes in Woodland are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Woodland'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 Woodland 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
Woodland, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$1,524
Ownwell’s Woodland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woodland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodland 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 Woodland, Michigan
Property taxes in Woodland, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodland is 1.00%, slightly higher than the U.S. national median of 0.99%. Local government entities within Woodland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodland 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 Woodland's effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 48897 has both the highest and lowest median property tax rate of 1.00%. Understanding how these areas compare with Woodland provides valuable insights into the varying tax landscape across Barry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Woodland Tax Rate
1.00%
Average Barry County Tax Rate
1.13%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodland, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48897 | 0.49% | 0.80% | 1.00% | 1.15% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Woodland, Michigan
In Woodland, 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 Barry 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 Woodland, 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 Woodland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Woodland is $152,400, with the highest median tax bill recorded at $1,541 in the 48897 zip code.
Average Woodland Assessed Value
$152,400
Average Barry County Assessed Value
$180,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Woodland, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48897 | $81,780 | $110,700 | $152,400 | $234,150 | $420,780 |
Source: Ownwell
Property Tax Bills Across Woodland, Michigan
In Woodland, Michigan, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The median home price in Woodland is $152,400, and property tax rates are applied to this assessed value to determine the annual tax bill. The tax rate in Barry County significantly impacts homeowners, with the 25th percentile tax bill at $1,152 and the 75th percentile at $2,219, reflecting a range of tax obligations based on property values. Several factors influence the property tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Woodland experience varying tax burdens, with the 90th percentile tax bill reaching up to $2,966, indicating higher taxes for more valuable properties. Compared to the national median property tax rate of 0.99%, Woodland's tax rates can result in substantial annual expenses for homeowners, affecting their overall financial planning and homeownership costs.
Average Woodland Tax Bill
$1,541
Average Barry County Tax Bill
$1,949
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodland, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48897 | $839 | $1,152 | $1,541 | $2,219 | $2,966 |
Source: Ownwell