Chesaning, Michigan Property Taxes
The median property tax rate in Chesaning, MI is 0.99%, aligning with the national median but slightly lower than the Michigan state median of 1.07%. With a median home value of $182,600 in Chesaning, the typical annual property tax bill is $1,754, which is below the national median of $2,690. Property taxes in Chesaning are based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Chesaning'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 Chesaning 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
Chesaning, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,808
Ownwell’s Chesaning Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chesaning with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chesaning 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 Chesaning, Michigan
Property taxes in Chesaning, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chesaning is 0.99%, which aligns with the U.S. national median of 0.99%. Local government entities within Chesaning set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chesaning 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 Chesaning's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48616 zip code has the highest median property tax rate of 0.99%, while the same 48616 zip code also has the lowest median tax rate of 0.99%. Understanding how these cities compare with Chesaning provides valuable insights into the varying tax landscape across Shiawassee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chesaning Tax Rate
0.99%
Average Shiawassee County Tax Rate
1.23%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chesaning, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48616 | 0.93% | 0.96% | 0.99% | 1.03% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Chesaning, Michigan
In Chesaning, 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 Shiawassee 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 Chesaning, 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. Chesaning's median home price is $182,600, with tax bills ranging from $1,379 at the 25th percentile to $2,482 at the 90th percentile. The highest and lowest median tax bills are both $1,754, found in the 48616 zip code. 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 Chesaning helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Chesaning Assessed Value
$182,600
Average Shiawassee County Assessed Value
$142,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chesaning, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48616 | $99,800 | $128,800 | $182,600 | $232,600 | $256,200 |
Source: Ownwell
Property Tax Bills Across Chesaning, Michigan
In Chesaning, located in Shiawassee County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value often represents a percentage of the market value of the property. Homeowners in Chesaning can expect their property tax bills to vary significantly, influenced by factors such as property size, location, and improvements. For instance, the median home price in Chesaning is $182,600. Property tax bills range widely, with the 25th percentile tax bill at $1,379 and the 75th percentile at $2,268. The 90th percentile tax bill can go up to $2,482. The highest and lowest median tax bills in the area are both $1,754, indicating a relatively uniform tax burden across different properties. These property taxes fund essential local services, including schools, infrastructure, and emergency services, directly impacting homeowners' quality of life. Compared to the national median property tax rate of 0.99%, Chesaning's rates suggest a balanced approach to property taxation, ensuring adequate community funding while considering homeowners' financial responsibilities.
Average Chesaning Tax Bill
$1,754
Average Shiawassee County Tax Bill
$1,816
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Chesaning, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48616 | $1,029 | $1,379 | $1,754 | $2,268 | $2,482 |
Source: Ownwell