Concord, Michigan Property Taxes
The median property tax rate in Concord, Michigan is 0.87%, 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 $151,800 in Concord, the typical annual property tax bill is $1,785, which is below the national median of $2,690. Property taxes in Concord 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 Concord'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 Concord 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
Concord, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,321
$1,226
Ownwell’s Concord Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Concord with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Concord 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 Calhoun County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Concord, Michigan
Property taxes in Concord, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Concord is 0.87%, which is slightly below the U.S. national median of 0.99%. Local government entities within Concord set these rates annually, and they can vary significantly across different neighborhoods. Each year, Concord 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 Concord's effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 49237 has the highest median property tax rate of 0.87%, while the same zip code also has the lowest median tax rate of 0.87%. Understanding how these areas compare with Concord provides valuable insights into the varying tax landscape across Calhoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Concord Tax Rate
0.87%
Average Calhoun County Tax Rate
1.36%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Concord, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49237 | 0.44% | 0.54% | 0.87% | 1.24% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Concord, Michigan
In Concord, 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 Calhoun 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 Concord, 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 Concord helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,785, found in the 49237 zip code.
Average Concord Assessed Value
$151,800
Average Calhoun County Assessed Value
$125,045
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Concord, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49237 | $52,380 | $106,250 | $151,800 | $500,650 | $706,140 |
Source: Ownwell
Property Tax Bills Across Concord, Michigan
In Concord, Calhoun County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the property's market value. The tax rate, applied to this assessed value, is determined by local government and can vary within the county. Homeowners in Concord experience property tax bills that reflect both the value of their property and the specific tax rates set by local authorities. For instance, the median home price in Concord is $151,800. The property tax bills range significantly, with the 25th percentile at $1,596 and the 75th percentile at $2,462, indicating a broad spectrum of tax liabilities depending on property valuation and applicable exemptions. At the higher end, the 90th percentile tax bill reaches $4,714. These figures show how tax obligations can vary widely, impacting homeowners differently based on their property's assessed value and the local tax rate. Comparatively, the national median property tax rate is 0.99%, which provides context for understanding how Concord's tax rates align with broader trends. Homeowners should be aware of these factors as they directly influence the annual cost of owning property in the area.
Average Concord Tax Bill
$1,785
Average Calhoun County Tax Bill
$1,916
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Concord, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49237 | $1,343 | $1,596 | $1,785 | $2,462 | $4,714 |
Source: Ownwell