Marshall, Michigan Property Taxes
The median property tax rate in Marshall, MI is 1.62%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Marshall at $174,800, the typical annual property tax bill reaches $2,856, exceeding the national median of $2,690. Property taxes in Marshall 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 Marshall'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 Marshall 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
Marshall, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.62%
Estimate Property Tax Bill
$2,832
Ownwell’s Marshall Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marshall with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marshall 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 Marshall, Michigan
Property taxes in Marshall, Michigan, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marshall is 1.62%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Marshall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marshall 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 Marshall's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49068 zip code has the highest median property tax rate of 1.62%, while the 49068 zip code also has the lowest median tax rate of 1.62%. Understanding how these cities compare with Marshall provides valuable insights into the varying tax landscape across Calhoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marshall Tax Rate
1.62%
Average Calhoun County Tax Rate
1.36%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marshall, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49068 | 0.99% | 1.28% | 1.62% | 2.11% | 2.44% |
Source: Ownwell
Property Tax Assessment Values Across Marshall, Michigan
In Marshall, 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 Calhoun 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. Assessment notices in Marshall 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 Marshall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Marshall are both $2,856, found in the zip code 49068.
Average Marshall Assessed Value
$174,800
Average Calhoun County Assessed Value
$125,045
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marshall, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49068 | $77,380 | $121,750 | $174,800 | $257,850 | $378,200 |
Source: Ownwell
Property Tax Bills Across Marshall, Michigan
In Marshall, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate, set by Calhoun County, is then applied to this assessed value to determine the annual property tax bill. Factors such as the home's location, size, and any improvements or renovations can influence its assessed value. For instance, the median home price in Marshall is $174,800. Homeowners in the 25th percentile can expect a tax bill around $1,957, while those in the 75th percentile might see bills as high as $4,077. At the 90th percentile, the tax bill can reach up to $5,504. The highest and lowest median tax bills in the area both stand at $2,856, reflecting the uniformity within the 49068 ZIP code. These tax bills impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, making it essential to understand how they are calculated and managed.
Average Marshall Tax Bill
$2,856
Average Calhoun County Tax Bill
$1,916
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Marshall, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49068 | $1,271 | $1,957 | $2,856 | $4,077 | $5,504 |
Source: Ownwell