Rockford, Michigan Property Taxes
The median property tax rate in Rockford, MI is 0.78%, which is lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $329,600 in Rockford, the typical annual property tax bill amounts to $2,653, slightly below the national median of $2,690. Property taxes in Rockford are determined based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence exemption. Gaining a thorough understanding of Rockford's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Rockford or another part of Kent County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rockford, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$2,571
Ownwell’s Rockford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rockford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rockford 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 Rockford, Michigan
Property taxes in Rockford, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rockford is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Rockford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rockford 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 Rockford's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49341 zip code has both the highest and the lowest median property tax rate of 0.78%. Understanding how these areas compare with Rockford 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 Rockford Tax Rate
0.78%
Average Kent County Tax Rate
0.89%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rockford, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49341 | 0.57% | 0.67% | 0.78% | 0.95% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Rockford, Michigan
In Rockford, 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 Rockford, 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 Rockford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Rockford are both $2,653, found in zip code 49341.
Average Rockford Assessed Value
$329,600
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 Rockford, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49341 | $193,000 | $254,200 | $329,600 | $434,400 | $571,380 |
Source: Ownwell
Property Tax Bills Across Rockford, Michigan
In Rockford, located in Kent County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The assessed value is typically a percentage of the market value of the property. Homeowners in Rockford can expect their property tax bills to vary significantly based on the value of their homes and the specific tax rates applied by local taxing authorities. For example, the median home price in Rockford is $329,600. Property tax bills in this area range from $1,945 at the 25th percentile to $5,081 at the 90th percentile, reflecting the variation in property values and tax assessments. The median tax bill in the highest and lowest zip codes within Rockford stands at $2,653, which is higher than the national median property tax rate of 0.99%. These tax bills fund essential public services such as schools, infrastructure, and emergency services. Therefore, understanding how property tax is calculated can help homeowners anticipate their annual expenses and plan their budgets accordingly.
Average Rockford Tax Bill
$2,653
Average Kent County Tax Bill
$2,321
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Rockford, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49341 | $1,357 | $1,945 | $2,653 | $3,679 | $5,081 |
Source: Ownwell