Grawn, Michigan Property Taxes
The median property tax rate in Grawn, MI is 0.57%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Grawn at $227,432, the typical annual property tax bill amounts to $1,266, falling well below the national median of $2,690. Property taxes in Grawn are calculated based on the tax assessed value, which often is less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Grawn'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 Grawn or another part of Grand Traverse County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grawn, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$1,296
Ownwell’s Grawn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grawn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grawn 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 Grawn, Michigan
Property taxes in Grawn, Michigan, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Grawn is 0.57%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Grawn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grawn 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 Grawn's effective property tax rate to other areas in Michigan and the national median. For comparison, the highest median property tax rate in Grand Traverse County is also 0.57%, while the lowest median tax rate is similarly 0.57%. Understanding how these areas compare with Grawn provides valuable insights into the varying tax landscape across Grand Traverse County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grawn Tax Rate
0.57%
Average Grand Traverse County Tax Rate
0.70%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grawn, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49637 | 0.32% | 0.44% | 0.57% | 0.79% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Grawn, Michigan
In Grawn, 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 Grand Traverse 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 Grawn, 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 Grawn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,266 in the 49637 zip code, while the lowest median tax bill is also $1,266 in the same zip code.
Average Grawn Assessed Value
$227,432
Average Grand Traverse County Assessed Value
$287,584
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grawn, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49637 | $95,290 | $163,973 | $227,432 | $325,888 | $532,002 |
Source: Ownwell
Property Tax Bills Across Grawn, Michigan
In Grawn, located in Grand Traverse County, 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 is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $227,432, homeowners can expect varying tax bills. The 25th percentile tax bill is around $835, while those in the 75th percentile pay approximately $2,085. At the 90th percentile, the tax bill can reach up to $3,671. The highest and lowest median tax bills in the area both stand at $1,266, highlighting some consistency across different zip codes. Compared to the national median property tax rate of 0.99%, Grawn's rates can significantly impact homeowners, depending on their property's assessed value and the specific tax rate applied. Understanding these factors is crucial for homeowners to budget effectively and anticipate their annual property tax obligations.
Average Grawn Tax Bill
$1,266
Average Grand Traverse County Tax Bill
$2,154
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Grawn, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49637 | $557 | $835 | $1,266 | $2,085 | $3,671 |
Source: Ownwell