Springfield, Michigan Property Taxes
The median property tax rate in Springfield, MI is 1.45%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Springfield, the typical annual property tax bill reaches $1,340, exceeding the national median of $2,690. Property taxes in Springfield 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 Springfield'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 Springfield 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
Springfield, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.45%
Estimate Property Tax Bill
$1,270
$1,178
Ownwell’s Springfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Springfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Springfield 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 Springfield, Michigan
Property taxes in Springfield, Michigan, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Springfield is 1.45%, which is higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities in Springfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Springfield 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 Springfield's effective property tax rate to other areas in Michigan and the national median. For comparison, the 49015 zip code has the highest median property tax rate of 1.61%, while the 49037 zip code has the lowest median tax rate of 1.44%. Understanding how these areas compare with Springfield 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 Springfield Tax Rate
1.45%
Average Calhoun County Tax Rate
1.36%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Springfield, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49015 | 1.28% | 1.35% | 1.61% | 1.79% | 2.08% |
| 49037 | 1.04% | 1.26% | 1.44% | 1.84% | 2.15% |
Source: Ownwell
Property Tax Assessment Values Across Springfield, Michigan
In Springfield, 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 Springfield, 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. The highest median tax bill in Springfield is $1,340 in the 49037 zip code, while the lowest median tax bill is $1,331 in the 49015 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Springfield Assessed Value
$87,559
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 Springfield, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49015 | $54,204 | $74,706 | $93,694 | $111,410 | $127,982 |
| 49037 | $45,510 | $62,161 | $87,258 | $121,276 | $148,224 |
Source: Ownwell
Property Tax Bills Across Springfield, Michigan
In Springfield, located in Calhoun County, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The assessed value is typically a percentage of the market value, which is then multiplied by the tax rate to calculate the annual tax bill. Homeowners in Springfield can expect their property tax bills to vary significantly based on the value of their home. For instance, the median home price in Springfield is $87,559. The property tax bills range widely, with the 25th percentile at $903, the 75th percentile at $1,943, and the 90th percentile reaching up to $2,752. The highest median tax bill is $1,340 in the 49037 zip code, while the lowest is $1,331 in the 49015 zip code. These figures illustrate how property taxes can impact homeowners differently, potentially affecting their financial planning and homeownership costs. Compared to the national median property tax rate of 0.99%, Springfield's property tax rates reflect local economic conditions and municipal funding needs.
Average Springfield Tax Bill
$1,340
Average Calhoun County Tax Bill
$1,916
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Springfield, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49015 | $886 | $1,120 | $1,331 | $1,948 | $2,505 |
| 49037 | $551 | $896 | $1,340 | $1,942 | $2,753 |
Source: Ownwell