Leonidas, Michigan Property Taxes
The median property tax rate in Leonidas, MI is 0.34%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Leonidas at $114,900, the typical annual property tax bill is $398, which is well below the national median of $2,690. Property taxes in Leonidas are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Leonidas'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 Leonidas 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
Leonidas, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$391
Ownwell’s Leonidas Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leonidas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leonidas 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 Leonidas, Michigan
Property taxes in Leonidas, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leonidas is 0.34%, which is significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Leonidas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leonidas 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 Leonidas's effective property tax rate to other counties in Michigan and the national median. Understanding how Leonidas compares with other areas provides valuable insights into the varying tax landscape across St. Joseph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leonidas Tax Rate
0.34%
Average St. Joseph County Tax Rate
0.41%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leonidas, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49066 | 0.24% | 0.28% | 0.34% | 0.37% | 0.44% |
Source: Ownwell
Property Tax Assessment Values Across Leonidas, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Leonidas, MI. 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. Joseph 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 Leonidas, 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. The median home price in Leonidas is $114,900, with annual tax bills ranging from $267 at the 25th percentile to $949 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Leonidas Assessed Value
$114,900
Average St. Joseph County Assessed Value
$142,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leonidas, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49066 | $45,380 | $82,150 | $114,900 | $171,300 | $266,560 |
Source: Ownwell
Property Tax Bills Across Leonidas, Michigan
In Leonidas, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the property's market value. The median home price in Leonidas is $114,900. Homeowners can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $267 and the 75th percentile reaching $604. For those at the higher end, the 90th percentile tax bill can be as much as $949. The highest and lowest median tax bills in the area are both $398, found in the 49066 zip code. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, homeowners in Leonidas may find their tax bills to be relatively moderate. Understanding these factors can help homeowners budget more effectively and potentially seek out exemptions that could lower their tax burden.
Average Leonidas Tax Bill
$398
Average St. Joseph County Tax Bill
$772
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Leonidas, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49066 | $159 | $267 | $398 | $604 | $949 |
Source: Ownwell