Burnips, Michigan Property Taxes
The median property tax rate in Burnips, MI, is 0.78%, which is lower than both the national median of 0.99% and Michigan's state median of 1.07%. With a median home value of $161,800 in Burnips, the typical annual property tax bill amounts to $1,102, significantly less than the national median of $2,690. Property taxes in Burnips are calculated based on the tax assessed value, which is usually lower than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Burnips' property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial savings. Whether you're in the heart of Burnips or another part of Allegan County, gaining insights into the local property tax system is crucial for financial planning and investment strategies.
Last Updated June 14, 2024
Burnips, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$1,262
$1,171
Ownwell’s Burnips Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Burnips effortlessly with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Burnips to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and plan accordingly. For those interested in more granular data, you can explore trends on a neighborhood level by scrolling down. Your property’s assessed value, determined by Allegan County, is crucial for property tax calculations and accounts for any applicable exemptions.
Property Tax Rates Across Burnips, Michigan
Property taxes in Burnips, Michigan, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Burnips is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Burnips set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burnips 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 Burnips' effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 49314 has both the highest and lowest median property tax rate of 0.78%. Understanding how these areas compare with Burnips 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 Burnips Tax Rate
0.78%
Average Allegan County Tax Rate
1.09%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burnips, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49314 | 0.28% | 0.50% | 0.78% | 0.79% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Burnips, Michigan
In Burnips, 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 Burnips, 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 Burnips helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Burnips, both at $1102, are found in the 49314 zip code.
Average Burnips Assessed Value
$161,800
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 Burnips, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49314 | $93,800 | $109,800 | $161,800 | $208,800 | $220,360 |
Source: Ownwell
Property Tax Bills Across Burnips, Michigan
Property tax bills in Burnips, Allegan County, MI, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value, which in Burnips has a median home price of $161,800. For homeowners, this means their tax bill can vary significantly based on their property's assessed value and the applicable tax rate. In Burnips, the tax bills range widely. At the 25th percentile, homeowners might pay around $1,051, while those at the 75th percentile could see bills as high as $1,474. The top 10% of property tax bills can reach up to $1,729. Compared to the national median property tax rate of 0.99%, Burnips' property tax rates provide a competitive landscape for homeowners. These tax bills fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life in the community.
Average Burnips Tax Bill
$1,102
Average Allegan County Tax Bill
$2,370
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Burnips, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49314 | $123 | $1,051 | $1,102 | $1,474 | $1,729 |
Source: Ownwell