Morley, Michigan Property Taxes
The median property tax rate in Morley, MI is 0.32%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Morley at $136,800, the typical annual property tax bill amounts to $450, well below the national median of $2,690. Property taxes in Morley 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 Morley'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 Morley 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
Morley, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.32%
Estimate Property Tax Bill
$438
Ownwell’s Morley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Morley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Morley 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 Morley, Michigan
Property taxes in Morley, Michigan, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Morley is 0.32%, which is significantly lower than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Morley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Morley 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 Morley's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in Michigan is found in Washtenaw County at 2.09%, while the lowest median tax rate is in Luce County at 0.83%. Understanding how these cities compare with Morley 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 Morley Tax Rate
0.32%
Average Newaygo County Tax Rate
0.43%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Morley, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49336 | 0.24% | 0.26% | 0.32% | 0.35% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Morley, Michigan
In Morley, 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 Morley, 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, in zip code 49336, the median tax bill is $450, the same for both the highest and lowest median tax bills in the area. 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 Morley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Morley Assessed Value
$136,800
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 Morley, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49336 | $112,680 | $121,000 | $136,800 | $177,800 | $218,880 |
Source: Ownwell
Property Tax Bills Across Morley, Michigan
In Morley, MI, property tax bills are calculated based on the assessed value of a property, which is typically 50% of its market value. For instance, with a median home price of $136,800, the assessed value would be approximately $68,400. The local tax rate is then applied to this assessed value to determine the annual tax bill. Various factors influence the tax bill, including local government budgets, public service funding, and school district levies. Homeowners in Morley can expect tax bills that vary significantly. The 25th percentile tax bill stands at $332, while the 75th percentile reaches $624. For those at the higher end, the 90th percentile tax bill is $833. Compared to the national median property tax rate of 0.99%, Morley's property taxes are relatively moderate, providing some financial relief to homeowners. However, fluctuations in assessed values and local tax rates can impact the exact amount owed each year, making it essential for homeowners to stay informed about potential changes.
Average Morley Tax Bill
$450
Average Newaygo County Tax Bill
$667
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Morley, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49336 | $270 | $332 | $450 | $624 | $833 |
Source: Ownwell