Bradley, Michigan Property Taxes
The median property tax rate in Bradley, MI is 0.81%, which is lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $156,000 in Bradley, the typical annual property tax bill is $1,311, significantly below the national median of $2,690. Property taxes in Bradley are calculated based on the assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Bradley'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 Bradley 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
Bradley, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$1,264
Ownwell’s Bradley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bradley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bradley 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 Bradley, Michigan
Property taxes in Bradley, Michigan, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Bradley is 1.44%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Bradley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bradley 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 Bradley's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49311 zip code has the highest median property tax rate of 1.44%, while the same zip code also has the lowest median tax rate of 1.44%. Understanding how these cities compare with Bradley 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 Bradley Tax Rate
0.81%
Average Allegan County Tax Rate
1.09%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bradley, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49311 | 0.72% | 0.73% | 0.81% | 0.95% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Bradley, Michigan
In Bradley, 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 Bradley, 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 Bradley 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 in Bradley is 49311, with a median tax bill of $1,311.
Average Bradley Assessed Value
$156,000
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 Bradley, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49311 | $133,260 | $144,150 | $156,000 | $178,800 | $209,400 |
Source: Ownwell
Property Tax Bills Across Bradley, Michigan
In Bradley, located in Allegan County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Homeowners in Bradley can expect their property tax bills to vary, with the 25th percentile at $1,139 and the 75th percentile reaching $1,610. For those in the 90th percentile, the tax bill can go up to $1,855. Several factors influence these tax bills, including property location, home size, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Bradley's property tax rates can be considered relatively moderate. This affects homeowners by adding a significant annual expense, which can impact their overall financial planning and home affordability. Understanding these factors can help homeowners anticipate their tax liabilities and make informed decisions about property investments.
Average Bradley Tax Bill
$1,311
Average Allegan County Tax Bill
$2,370
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Bradley, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49311 | $1,124 | $1,139 | $1,311 | $1,610 | $1,855 |
Source: Ownwell