Adrian, Michigan Property Taxes
The median property tax rate in Adrian, MI is 1.08%, slightly higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Adrian at $142,200, the typical annual property tax bill reaches $2,071, which is below the national median of $2,690. Property taxes in Adrian 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 Adrian'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 Adrian 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
Adrian, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$1,536
Ownwell’s Adrian Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Adrian with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Adrian 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 Adrian, Michigan
Property taxes in Adrian, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Adrian is 1.08%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Adrian set these rates annually, and they can vary significantly across different neighborhoods. Each year, Adrian 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 Adrian's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49221 zip code has the highest median property tax rate of 1.08%, while the same zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Adrian provides valuable insights into the varying tax landscape across Lenawee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Adrian Tax Rate
1.08%
Average Lenawee County Tax Rate
1.14%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Adrian, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49221 | 0.81% | 0.96% | 1.08% | 1.22% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Adrian, Michigan
In Adrian, 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 Lenawee 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 Adrian, 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. For instance, the median home price in Adrian is $142,200, with annual tax bills ranging from $1,518 at the 25th percentile to $3,763 at the 90th percentile. The zip code 49221 has the highest and lowest median tax bill, both at $2,071. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Adrian Assessed Value
$142,200
Average Lenawee County Assessed Value
$168,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Adrian, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49221 | $37,420 | $81,800 | $142,200 | $211,600 | $286,800 |
Source: Ownwell
Property Tax Bills Across Adrian, Michigan
In Adrian, 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. For instance, with a median home price of $142,200, homeowners can expect varying tax bills depending on their property's assessed value and specific circumstances. Factors influencing the tax bill include property size, location within Lenawee County, and any applicable exemptions. Homeowners in Adrian might receive a tax bill as low as $1,518 at the 25th percentile or as high as $3,763 at the 90th percentile. The median tax bill in the 49221 zip code stands at $2,071, which is higher than the national median property tax rate of 0.99%. These property taxes significantly impact homeowners, affecting their annual budgets and long-term financial planning. Understanding how these taxes are calculated and what factors are considered can help homeowners anticipate and manage their expenses more effectively.
Average Adrian Tax Bill
$2,071
Average Lenawee County Tax Bill
$2,184
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Adrian, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49221 | $941 | $1,518 | $2,071 | $2,773 | $3,763 |
Source: Ownwell