Caledonia, Michigan Property Taxes
The median property tax rate in Caledonia, MI is 1.28%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Caledonia at $385,800, the typical annual property tax bill reaches $4,800, exceeding the national median of $2,690. Property taxes in Caledonia 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 Caledonia'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 Caledonia 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
Caledonia, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$4,938
$4,583
Ownwell’s Caledonia Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and prospective buyers seeking to estimate their annual property taxes in Caledonia. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Caledonia to provide an accurate estimate of your property tax bill. This powerful tool helps you grasp potential tax liabilities with ease. For those interested in more detailed insights, including neighborhood-level trends, scroll down to access localized information. Understanding your property’s assessed value, which is determined by Barry County for tax calculations and accounts for applicable exemptions, is essential for managing your property tax obligations effectively.
Property Tax Rates Across Caledonia, Michigan
Property taxes in Caledonia, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Caledonia is 1.28%, which is significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Caledonia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Caledonia 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 Caledonia's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49316 has the highest median property tax rate of 1.28%, while the same zip code also represents the lowest median tax rate of 1.28%. Understanding how these figures compare with Caledonia provides valuable insights into the varying tax landscape across Barry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Caledonia Tax Rate
1.28%
Average Barry County Tax Rate
1.13%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Caledonia, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49316 | 1.04% | 1.12% | 1.28% | 1.43% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Caledonia, Michigan
In Caledonia, 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 Barry 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 Caledonia, 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 Caledonia 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 is 49316, both at $4800.
Average Caledonia Assessed Value
$385,800
Average Barry County Assessed Value
$180,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Caledonia, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49316 | $213,440 | $282,800 | $385,800 | $538,200 | $753,040 |
Source: Ownwell
Property Tax Bills Across Caledonia, Michigan
In Caledonia, located in Barry County, MI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Caledonia is $385,800. To determine the tax bill, the assessed value is multiplied by the local tax rate. For instance, homeowners in Caledonia face a median tax bill of $4,800 annually, which reflects the local tax rate applied to the assessed home value. Several factors influence the property tax bill, including the home's assessed value and any applicable exemptions or deductions. The tax bill can vary significantly; for example, the 25th percentile tax bill is $3,776, while the 75th percentile tax bill is $6,791. At the higher end, the 90th percentile tax bill reaches $8,760. These variations affect homeowners differently, with those owning higher-valued properties typically paying more in taxes. Understanding these factors is essential for homeowners to anticipate and manage their annual property tax obligations effectively.
Average Caledonia Tax Bill
$4,800
Average Barry County Tax Bill
$1,949
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Caledonia, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49316 | $2,746 | $3,776 | $4,800 | $6,791 | $8,760 |
Source: Ownwell