Grant Township, Michigan Property Taxes
The median property tax rate in Grant Township, MI is 0.50%, considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Grant Township, the typical annual property tax bill reaches $1,136, significantly below the national median of $2,690. Property taxes in Grant Township 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 Grant Township'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 Grant Township 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
Grant Township, Michigan Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$2,140
Ownwell’s Grant Township Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grant Township with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grant Township 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 Township, Michigan
Property taxes in Grant Township, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grant Township is 0.50%, which is lower than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Grant Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grant Township 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 Township's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48032 zip code has the highest median property tax rate of 0.50%, while the lowest median tax rate is also 0.50%. Understanding how these cities compare with Grant Township provides valuable insights into the varying tax landscape across St. Clair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grant Township Tax Rate
0.50%
Average St. Clair County Tax Rate
0.78%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grant Township, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48032 | 0.35% | 0.38% | 0.50% | 0.61% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Grant Township, Michigan
In Grant Township, 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 St. Clair 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 Township, 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 Grant Township helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $236,300, with tax bills ranging from the 25th percentile at $852 to the 90th percentile at $2,085. The highest and lowest median tax bills are both $1,136 in zip code 48032.
Property Tax Assessment Values Across Grant Township, Michigan
Source: Ownwell
$35,200
$161,900
$288,600
Average Grant Township Assessed Value
$236,300
Average St. Clair County Assessed Value
$181,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grant Township, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48032 | $128,900 | $182,300 | $236,300 | $292,850 | $356,100 |
Source: Ownwell
Property Tax Bills Across Grant Township, Michigan
In Grant Township, located in St. Clair County, MI, property tax bills are calculated based on the assessed value of a home, which is typically 50% of its market value. For instance, with a median home price of $236,300, the assessed value would be around $118,150. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, any applicable exemptions, and the specific tax rate set by local municipalities. Homeowners in Grant Township can expect a range of tax bills, with the 25th percentile at $852 and the 75th percentile at $1634, indicating variability based on property values and local levies. Compared to the national median property tax rate of 0.99%, Grant Township's tax bills reflect a moderate burden on homeowners. Understanding these factors can help residents anticipate their annual property tax obligations and plan their finances accordingly.
Average Grant Township Tax Bill
$1,136
Average St. Clair County Tax Bill
$1,504
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Grant Township, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48032 | $537 | $852 | $1,136 | $1,634 | $2,085 |
Source: Ownwell