Ferrysburg, Michigan Property Taxes
The median property tax rate in Ferrysburg, MI is 0.68%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Ferrysburg at $225,600, the typical annual property tax bill is $1,494, which is well below the national median of $2,690. Property taxes in Ferrysburg are calculated based on the assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Ferrysburg'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 Ferrysburg 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
Ferrysburg, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$1,534
Ownwell’s Ferrysburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ferrysburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ferrysburg 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 Ferrysburg, Michigan
Property taxes in Ferrysburg, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ferrysburg is 0.68%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Ferrysburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ferrysburg 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 Ferrysburg's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49409 zip code has the highest median property tax rate of 0.68%, while the same 49409 zip code also has the lowest median tax rate of 0.68%. Understanding how these cities compare with Ferrysburg provides valuable insights into the varying tax landscape across Ottawa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ferrysburg Tax Rate
0.68%
Average Ottawa County Tax Rate
0.90%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ferrysburg, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49409 | 0.67% | 0.67% | 0.68% | 1.15% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Ferrysburg, Michigan
In Ferrysburg, 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 Ottawa 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 Ferrysburg, 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 Ferrysburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $1494 in the 49409 zip code.
Average Ferrysburg Assessed Value
$225,600
Average Ottawa County Assessed Value
$276,000
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ferrysburg, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49409 | $206,880 | $213,900 | $225,600 | $372,700 | $460,960 |
Source: Ownwell
Property Tax Bills Across Ferrysburg, Michigan
In Ferrysburg, Ottawa 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. For instance, with a median home price of $225,600, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $1,433, while at the 75th percentile, it rises to approximately $4,965. For those in the 90th percentile, the tax bill can be as high as $7,048. These assessments and resulting tax bills can significantly impact homeowners, influencing their overall cost of living and financial planning. Comparing these figures to the national median property tax rate of 0.99%, Ferrysburg's property tax rates reflect the local economic conditions and public service funding requirements. Understanding these factors allows homeowners to better anticipate their annual expenses and make informed decisions about property investments.
Average Ferrysburg Tax Bill
$1,494
Average Ottawa County Tax Bill
$2,533
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Ferrysburg, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49409 | $1,396 | $1,433 | $1,494 | $4,965 | $7,048 |
Source: Ownwell