Bloomingdale, Michigan Property Taxes
The median property tax rate in Bloomingdale, MI is 0.84%, which is lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Bloomingdale, the typical annual property tax bill is $1,432, significantly below the national median of $2,690. Property taxes in Bloomingdale are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bloomingdale’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 Bloomingdale 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
Bloomingdale, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,332
$1,236
Ownwell’s Bloomingdale Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Bloomingdale with just two pieces of information. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Bloomingdale to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Bloomingdale, Michigan
Property taxes in Bloomingdale, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bloomingdale is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Bloomingdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bloomingdale 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 Bloomingdale's effective property tax rate to other areas in Michigan and the national median. For comparison, the 49026 zip code has both the highest and lowest median property tax rate of 0.84%. Understanding how these areas compare with Bloomingdale provides valuable insights into the varying tax landscape across Allegan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bloomingdale Tax Rate
0.84%
Average Allegan County Tax Rate
1.09%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bloomingdale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49026 | 0.57% | 0.66% | 0.84% | 1.28% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Bloomingdale, Michigan
In Bloomingdale, 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 Allegan 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 Bloomingdale, 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. For instance, properties in the 49026 zip code have a median tax bill of $1,432. 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 Bloomingdale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bloomingdale Assessed Value
$158,600
Average Allegan County Assessed Value
$229,000
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bloomingdale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49026 | $56,440 | $117,700 | $158,600 | $226,500 | $307,040 |
Source: Ownwell
Property Tax Bills Across Bloomingdale, Michigan
In Bloomingdale, located in Allegan County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value typically represents a percentage of the property's market value. For instance, with a median home price of $158,600, the assessed value would be a fraction of this amount. The local tax rate is then applied to the assessed value to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions. In Bloomingdale, the tax bills vary significantly, with the 25th percentile at $855 and the 75th percentile at $2253. The highest median tax bill in the area is $1432, which is notably higher than the national median property tax rate of 0.99%. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. For homeowners, understanding how their tax bill is calculated can help them anticipate annual expenses and explore potential exemptions or appeals.
Average Bloomingdale Tax Bill
$1,432
Average Allegan County Tax Bill
$2,370
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Bloomingdale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49026 | $579 | $855 | $1,432 | $2,253 | $3,631 |
Source: Ownwell