Grass Lake, Michigan Property Taxes
The median property tax rate in Grass Lake, MI is 0.39%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Grass Lake, the typical annual property tax bill comes to $1,181, well below the national median of $2,690. Property taxes in Grass Lake are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Grass Lake's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Grass Lake 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
Grass Lake, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$1,256
Ownwell’s Grass Lake Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Grass Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grass Lake to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and make informed decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available just below. Your property’s assessed value is determined by the county for tax purposes, incorporating any applicable exemptions.
Property Tax Rates Across Grass Lake, Michigan
Property taxes in Grass Lake, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grass Lake is 0.39%, which is considerably lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Grass Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grass Lake 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 Grass Lake's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in Washtenaw County is found in zip code 48105 with a rate of 1.78%, while the lowest median tax rate is in zip code 48197 at 0.25%. Understanding how these cities compare with Grass Lake provides valuable insights into the varying tax landscape across Washtenaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grass Lake Tax Rate
0.39%
Average Washtenaw County Tax Rate
1.22%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grass Lake, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49240 | 0.29% | 0.34% | 0.39% | 0.45% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Grass Lake, Michigan
In Grass Lake, 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 Washtenaw 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 Grass Lake, 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 Grass Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 49240, with a median tax bill of $1,181.
Average Grass Lake Assessed Value
$322,000
Average Washtenaw County Assessed Value
$319,000
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grass Lake, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49240 | $136,280 | $231,200 | $322,000 | $428,400 | $551,280 |
Source: Ownwell
Property Tax Bills Across Grass Lake, Michigan
Property tax bills in Grass Lake, part of Washtenaw County, MI, are calculated based on the assessed value of a property, which is typically a percentage of its market value. For homeowners in Grass Lake, the median home price is $322,000. The tax rate is applied to the assessed value to determine the annual tax bill. Factors like local millage rates and any applicable exemptions or deductions also play a crucial role in the final calculation. Homeowners in Grass Lake can expect their property tax bills to vary significantly. For example, the 25th percentile tax bill is $889, while the 75th percentile tax bill is $1662. At the higher end, the 90th percentile tax bill reaches $2235. The highest and lowest median tax bills in the area are both $1181, indicating a relatively consistent range within this zip code. Compared to the national median property tax rate of 0.99%, Grass Lake’s property taxes can be relatively moderate, impacting homeowners' monthly budgets and overall financial planning.
Average Grass Lake Tax Bill
$1,181
Average Washtenaw County Tax Bill
$4,022
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Grass Lake, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49240 | $582 | $889 | $1,181 | $1,662 | $2,235 |
Source: Ownwell