Benton Harbor, Michigan Property Taxes
The median property tax rate in Benton Harbor, MI is 0.84%, which is lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $90,000 in Benton Harbor, the typical annual property tax bill amounts to $772, significantly below the national median of $2,690. Property taxes in Benton Harbor are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Benton Harbor's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Benton Harbor or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Benton Harbor, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$756
Ownwell’s Benton Harbor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Benton Harbor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Benton Harbor 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 Benton Harbor, Michigan
Property taxes in Benton Harbor, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Benton Harbor is 0.84%, slightly lower than the U.S. national median of 0.99%. Local government entities within Benton Harbor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Benton Harbor 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 Benton Harbor's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49022 has both the highest and lowest median property tax rate of 0.84%. Understanding how these cities compare with Benton Harbor provides valuable insights into the varying tax landscape across Berrien County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Benton Harbor Tax Rate
0.84%
Average Berrien County Tax Rate
0.85%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Benton Harbor, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49022 | 0.46% | 0.62% | 0.84% | 1.40% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Benton Harbor, Michigan
In Benton Harbor, 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 Berrien 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 Benton Harbor, 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 Benton Harbor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 49022 has the highest and lowest median tax bill, both at $772.00, reflecting the area's property tax landscape.
Average Benton Harbor Assessed Value
$90,000
Average Berrien County Assessed Value
$183,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Benton Harbor, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49022 | $24,680 | $43,800 | $90,000 | $156,800 | $253,600 |
Source: Ownwell
Property Tax Bills Across Benton Harbor, Michigan
In Benton Harbor, MI, property tax bills are calculated based on the assessed value of the property, which is determined by the local assessor's office. The assessed value is typically a percentage of the market value of the home. For example, a median home price in Benton Harbor is $90,000. Property tax rates are applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including local tax rates, which can vary depending on municipal budgets and funding requirements for services such as schools, infrastructure, and emergency services. In Benton Harbor, the tax bills can range significantly, with the 25th percentile at $499, the 75th percentile at $1198, and the 90th percentile reaching as high as $1967. These property taxes impact homeowners by contributing to the overall cost of homeownership. Compared to the national median property tax rate of 0.99%, Benton Harbor's rates can be seen as moderate, reflecting the specific financial needs and resources of the local community.
Average Benton Harbor Tax Bill
$772
Average Berrien County Tax Bill
$1,463
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Benton Harbor, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49022 | $311 | $499 | $772 | $1,198 | $1,967 |
Source: Ownwell