Grant, Michigan Property Taxes
The median property tax rate in Grant, MI is 0.40%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $162,400 in Grant, the typical annual property tax bill is $676, well below the national median of $2,690. Property taxes in Grant are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Grant'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 Grant or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grant, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$650
Ownwell’s Grant Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grant with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grant 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 Grant, Michigan
Property taxes in Grant, Michigan, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grant is 1.46%, significantly higher than both the Michigan state median of 1.31% and the U.S. national median of 0.99%. Local government entities within Grant set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grant 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 Grant's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49412 zip code has the highest median property tax rate of 1.73%, while the 49337 zip code has the lowest median tax rate of 1.31%. Understanding how these cities compare with Grant provides valuable insights into the varying tax landscape across Newaygo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grant Tax Rate
0.40%
Average Newaygo County Tax Rate
0.43%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grant, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49327 | 0.29% | 0.34% | 0.40% | 0.51% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Grant, Michigan
In Grant, 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 Newaygo 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 Grant, 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. The median home price in Grant is $162,400, with property tax bills varying significantly. For instance, the 25th percentile tax bill is $427, while the 75th percentile tax bill is $1,077. 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 Grant helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Grant Assessed Value
$162,400
Average Newaygo County Assessed Value
$143,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grant, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49327 | $73,600 | $109,600 | $162,400 | $236,200 | $322,200 |
Source: Ownwell
Property Tax Bills Across Grant, Michigan
In Grant, located in Newaygo County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Grant is $162,400, and the property tax rate in Newaygo County is influenced by various factors, including school district funding, municipal services, and infrastructure maintenance. For homeowners in Grant, the property tax bill can vary significantly. The 25th percentile of tax bills is around $427, while the 75th percentile is approximately $1077. At the 90th percentile, tax bills can reach up to $1670. These variations reflect differences in property values and the specific tax rates applied in different parts of the city. Compared to the national median property tax rate of 0.99%, Grant's property taxes can be relatively moderate, which can be a financial advantage for homeowners in the area.
Average Grant Tax Bill
$676
Average Newaygo County Tax Bill
$667
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Grant, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49327 | $271 | $427 | $676 | $1,077 | $1,670 |
Source: Ownwell