Grand Junction, Michigan Property Taxes
The median property tax rate in Grand Junction, MI is 1.03%, slightly higher than the national median of 0.99% but lower than the Michigan state median of 1.07%. With the median home value in Grand Junction at $95,600, the typical annual property tax bill is $921, which is below the national median of $2,690. Property taxes in Grand Junction are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Grand Junction'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 Grand Junction 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
Grand Junction, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$985
$914
Ownwell’s Grand Junction Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grand Junction with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grand Junction 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 Grand Junction, Michigan
Property taxes in Grand Junction, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grand Junction is 1.03%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Grand Junction set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grand Junction 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 Grand Junction's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49056 zip code has the highest median property tax rate of 1.03%, while the 49056 zip code also has the lowest median tax rate of 1.03%. Understanding how these cities compare with Grand Junction 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 Grand Junction Tax Rate
1.03%
Average Allegan County Tax Rate
1.09%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grand Junction, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49056 | 0.54% | 0.73% | 1.03% | 1.50% | 2.14% |
Source: Ownwell
Property Tax Assessment Values Across Grand Junction, Michigan
In Grand Junction, 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 Grand Junction, 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 Grand Junction helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 49056, with a value of $921.00, and the lowest median tax bill is also in 49056, with the same value of $921.00.
Property Tax Assessment Values Across Grand Junction, Michigan
Source: Ownwell
$95,600
$381,600
$667,600
Average Grand Junction Assessed Value
$95,600
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 Grand Junction, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49056 | $20,400 | $45,800 | $95,600 | $176,400 | $286,000 |
Source: Ownwell
Property Tax Bills Across Grand Junction, Michigan
In Grand Junction, Allegan County, MI, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. For example, the median home price in Grand Junction is $95,600. The tax bills can vary significantly, with the 25th percentile tax bill at $498 and the 75th percentile reaching $1,580. At the 90th percentile, homeowners might see tax bills as high as $2,592. These tax bills are crucial for funding local services such as schools, public safety, and infrastructure. Homeowners in Grand Junction should be mindful of these taxes as they can have a significant impact on their annual expenses. Comparing this to the national median property tax rate of 0.99%, it's important for homeowners to understand how their local rates and assessed values compare to national standards, which can influence financial planning and real estate decisions.
Average Grand Junction Tax Bill
$921
Average Allegan County Tax Bill
$2,370
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Grand Junction, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49056 | $277 | $498 | $921 | $1,580 | $2,592 |
Source: Ownwell