Quincy, Michigan Property Taxes
The median property tax rate in Quincy, 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 Quincy at $158,248, the typical annual property tax bill is $661, which is well below the national median of $2,690. Property taxes in Quincy are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Quincy's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Quincy or another part of the city, a thorough understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Quincy, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$570
Ownwell’s Quincy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Quincy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Quincy 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 Quincy, Michigan
Property taxes in Quincy, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Quincy is 0.36%, which is significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Quincy set these rates annually, and they can vary considerably across different neighborhoods. Each year, Quincy 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 Quincy's effective property tax rate to other areas in Michigan and the national median. For comparison, the highest median property tax rate in Michigan is found in ZIP code 48009 with a rate of 2.02%, while the lowest is in ZIP code 49036 with a rate of 0.36%. Understanding how these cities compare with Quincy provides valuable insights into the varying tax landscape across Branch County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Quincy Tax Rate
0.36%
Average Branch County Tax Rate
0.40%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Quincy, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49082 | 0.23% | 0.29% | 0.36% | 0.48% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Quincy, Michigan
In Quincy, 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 Branch 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 Quincy, 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 Quincy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Quincy is $158,248, with tax bills ranging from $422 at the 25th percentile to $1,379 at the 90th percentile. The zip code with the highest and lowest median tax bill is 49082, both at $661.
Average Quincy Assessed Value
$158,248
Average Branch County Assessed Value
$130,544
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Quincy, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49082 | $79,505 | $114,196 | $158,248 | $228,932 | $348,309 |
Source: Ownwell
Property Tax Bills Across Quincy, Michigan
In Quincy, located in Branch County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Homeowners in Quincy can expect their tax bill to vary significantly depending on the value of their property. For instance, the 25th percentile tax bill is $422, while the 75th percentile tax bill rises to $982, and the 90th percentile tax bill reaches $1379. The median home price in Quincy is $158,248, and the property tax rate is influenced by this valuation. Comparatively, the national median property tax rate stands at 0.99%, making it essential for homeowners to understand these local nuances. Higher property values result in higher tax bills, which can impact household budgets. Additionally, local government budgets and services are directly influenced by the revenue generated from these property taxes, affecting community resources and infrastructure.
Average Quincy Tax Bill
$661
Average Branch County Tax Bill
$638
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Quincy, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49082 | $258 | $422 | $661 | $982 | $1,379 |
Source: Ownwell