Fennville, Michigan Property Taxes
The median property tax rate in Fennville, MI is 1.06%, slightly higher than the national median of 0.99% but just below the Michigan state median of 1.07%. With the median home value in Fennville at $210,500, the typical annual property tax bill is around $2,034, which is lower than the national median of $2,690. Property taxes in Fennville are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Fennville's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Fennville or another part of Allegan County, grasping the local property tax system is crucial for maximizing financial benefits.
Last Updated June 14, 2024
Fennville, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$2,231
Ownwell’s Fennville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fennville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fennville 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 Fennville, Michigan
Property taxes in Fennville, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fennville is 1.06%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Fennville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fennville 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 Fennville's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49408 zip code has the highest median property tax rate of 1.06%, while the same zip code also has the lowest median tax rate of 1.06%. Understanding how these cities compare with Fennville 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 Fennville Tax Rate
1.06%
Average Allegan County Tax Rate
1.09%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fennville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49408 | 0.70% | 0.84% | 1.06% | 1.36% | 1.75% |
Source: Ownwell
Property Tax Assessment Values Across Fennville, Michigan
In Fennville, 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 Fennville, 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 Fennville is $210,500, with the 25th percentile tax bill at $1,265 and the 75th percentile at $3,371. The highest and lowest median tax bills both amount to $2,034 in zip code 49408. Being aware of these valuation processes in Fennville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fennville Assessed Value
$210,500
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 Fennville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49408 | $73,200 | $131,400 | $210,500 | $347,450 | $701,220 |
Source: Ownwell
Property Tax Bills Across Fennville, Michigan
In Fennville, located in Allegan County, MI, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the market value, and this value is then multiplied by the local tax rate to determine the tax bill. For example, with a median home price of $210,500, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is approximately $1,265, while at the 75th percentile, it rises to around $3,371. The 90th percentile sees tax bills as high as $6,939. These property taxes significantly impact homeowners, influencing decisions on home purchasing and financial planning. Compared to the national median property tax rate of 0.99%, the tax rates in Fennville can lead to higher or lower tax bills depending on the assessed value and specific local rates. The highest and lowest median tax bills in the area both stand at $2,034, reflecting the uniformity in tax assessments within the zip code 49408.
Average Fennville Tax Bill
$2,034
Average Allegan County Tax Bill
$2,370
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Fennville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49408 | $761 | $1,265 | $2,034 | $3,371 | $6,939 |
Source: Ownwell