Dewitt, Michigan Property Taxes
The median property tax rate in DeWitt, MI is 1.78%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in DeWitt at $233,400, the typical annual property tax bill reaches $3,997, exceeding the national median of $2,690. Property taxes in DeWitt 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 DeWitt'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 DeWitt 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
Dewitt, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.78%
Estimate Property Tax Bill
$4,155
Ownwell’s DeWitt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DeWitt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DeWitt 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 Dewitt, Michigan
Property taxes in DeWitt, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in DeWitt is 1.78%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within DeWitt set these rates annually, and they can vary across different neighborhoods. Each year, DeWitt 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 DeWitt's effective property tax rate to other areas in Michigan and the national median. For comparison, the 48820 zip code has the highest median property tax rate of 1.78%, while the same zip code also has the lowest median tax rate of 1.78%. Understanding how these areas compare with DeWitt provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dewitt Tax Rate
1.78%
Average Clinton County Tax Rate
1.43%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dewitt, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48820 | 0.64% | 1.55% | 1.78% | 1.99% | 2.31% |
Source: Ownwell
Property Tax Assessment Values Across Dewitt, Michigan
In DeWitt, 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 Clinton 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 DeWitt, 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 DeWitt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in DeWitt is $3,997 in the 48820 zip code.
Average Dewitt Assessed Value
$233,400
Average Clinton County Assessed Value
$186,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dewitt, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48820 | $134,400 | $173,600 | $233,400 | $320,600 | $404,580 |
Source: Ownwell
Property Tax Bills Across Dewitt, Michigan
In DeWitt, MI, property tax bills are calculated based on the assessed value of a home, which is typically 50% of the market value. For instance, with a median home price of $233,400, the assessed value would be approximately $116,700. The local property tax rate is then applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including the property's location within Clinton County, any applicable exemptions, and local millage rates. Homeowners in DeWitt can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $2,765 and the 75th percentile reaching $5,789. The highest median tax bill in the area is $3,997, which is notably higher than the national median property tax rate of 0.99%. These tax bills can have a substantial impact on homeowners, affecting overall affordability and monthly housing costs. Understanding how these bills are calculated can help homeowners better anticipate their annual expenses and plan their finances accordingly.
Average Dewitt Tax Bill
$3,997
Average Clinton County Tax Bill
$2,460
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Dewitt, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48820 | $1,467 | $2,765 | $3,997 | $5,789 | $7,465 |
Source: Ownwell