Gowen, Michigan Property Taxes
The median property tax rate in Gowen, MI is 0.35%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Gowen at $213,600, the typical annual property tax bill is $760, far below the national median of $2,690. Property taxes in Gowen are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Gowen'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 Gowen or another part of Kent County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gowen, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.35%
Estimate Property Tax Bill
$748
Ownwell’s Gowen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gowen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gowen 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 Gowen, Michigan
Property taxes in Gowen, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gowen is 1.64%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Gowen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gowen 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 Gowen's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49506 zip code has the highest median property tax rate of 2.05%, while the 48838 zip code has the lowest median tax rate of 1.29%. Understanding how these cities compare with Gowen provides valuable insights into the varying tax landscape across Kent County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gowen Tax Rate
0.35%
Average Kent County Tax Rate
0.89%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gowen, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49326 | 0.25% | 0.30% | 0.35% | 0.43% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Gowen, Michigan
In Gowen, 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 Kent 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 Gowen, 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. The median home price in Gowen is $213,600. The tax bill varies significantly, with the 25th percentile at $440 and the 75th percentile at $1,231. The highest and lowest median tax bills both stand at $760, identified in the zip code 49326. Being aware of these valuation processes in Gowen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gowen Assessed Value
$213,600
Average Kent County Assessed Value
$248,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gowen, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49326 | $80,840 | $126,100 | $213,600 | $323,300 | $435,120 |
Source: Ownwell
Property Tax Bills Across Gowen, Michigan
In Gowen, MI, property tax bills are determined based on the assessed value of a home, which is typically a fraction of its market value. The local tax rate is applied to this assessed value to calculate the annual tax bill. For example, the median home price in Gowen is $213,600. Homeowners in the 25th percentile pay around $440 annually, while those in the 75th percentile face a tax bill of approximately $1,231. The 90th percentile tax bill can reach up to $1,884. Several factors influence these amounts, including changes in property values, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Gowen's property tax rates can vary significantly, impacting homeowners differently depending on their property's assessed value. Understanding these dynamics is crucial for homeowners as it directly affects their annual financial planning and long-term investment in their property.
Average Gowen Tax Bill
$760
Average Kent County Tax Bill
$2,321
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Gowen, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49326 | $266 | $440 | $760 | $1,231 | $1,884 |
Source: Ownwell