Holland, Michigan Property Taxes
The median property tax rate in Holland, MI is 0.99%, aligning with the national median but slightly lower than the Michigan state median of 1.07%. With the median home value in Holland at $274,400, the typical annual property tax bill reaches $3,189, surpassing the national median of $2,690. Property taxes in Holland are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Holland'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 Holland 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
Holland, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$2,717
$2,521
Ownwell’s Holland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holland 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 Holland, Michigan
Property taxes in Holland, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holland is 0.99%, aligning with the U.S. national median of 0.99%. Local government entities within Holland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holland 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 Holland's effective property tax rate to other areas in Michigan and the national median. For comparison, the 49423 zip code has the highest median property tax rate of 0.99%, while the 49424 zip code has the lowest median tax rate of 0.96%. Understanding how these areas compare with Holland 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 Holland Tax Rate
0.99%
Average Allegan County Tax Rate
1.09%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holland, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49423 | 0.70% | 0.83% | 0.99% | 1.17% | 1.47% |
| 49424 | 0.87% | 0.90% | 0.96% | 1.06% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Holland, Michigan
In Holland, 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 Holland, 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. The highest median tax bill is $7,635 in the 49424 zip code, while the lowest is $3,189 in the 49423 zip code. 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 Holland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Holland Assessed Value
$274,400
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 Holland, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49423 | $145,140 | $202,950 | $274,400 | $393,800 | $576,200 |
| 49424 | $271,320 | $415,800 | $656,600 | $821,400 | $920,280 |
Source: Ownwell
Property Tax Bills Across Holland, Michigan
In Holland, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value. Homeowners in Holland can expect tax bills that vary significantly; for instance, the 25th percentile tax bill is around $2,219, while the 75th percentile reaches $5,125. Comparatively, the highest median tax bill in the area, found in zip code 49424, is $7,635. Conversely, the lowest median tax bill, located in zip code 49423, is $3,189. These variations can greatly impact homeowners, influencing their financial planning and potentially affecting property values in different neighborhoods. With the national median property tax rate at 0.99%, Holland's property taxes can be seen as relatively moderate, offering a balanced fiscal environment for residents.
Average Holland Tax Bill
$3,189
Average Allegan County Tax Bill
$2,370
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Holland, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49423 | $1,439 | $2,219 | $3,189 | $5,121 | $8,412 |
| 49424 | $2,714 | $4,560 | $7,635 | $8,529 | $9,066 |
Source: Ownwell