East Jordan, Michigan Property Taxes
The median property tax rate in East Jordan, MI is 0.58%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $195,500 in East Jordan, the typical annual property tax bill amounts to $1,119, which is well below the national median of $2,690. Property taxes in East Jordan are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding East Jordan'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 East Jordan 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
East Jordan, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$1,134
Ownwell’s East Jordan Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Jordan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Jordan 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 East Jordan, Michigan
Property taxes in East Jordan, Michigan, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in East Jordan is 0.58%, which is lower than the U.S. national median of 0.99%. Local government entities within East Jordan set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Jordan 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 East Jordan's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49727 zip code has both the highest and lowest median property tax rate of 0.58%. Understanding how these cities compare with East Jordan provides valuable insights into the varying tax landscape across Charlevoix County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average East Jordan Tax Rate
0.58%
Average Charlevoix County Tax Rate
0.50%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Jordan, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49727 | 0.32% | 0.39% | 0.58% | 0.83% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across East Jordan, Michigan
In East Jordan, 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 Charlevoix 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 East Jordan, 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 median home price in East Jordan is $195,500, with tax bills ranging from $641 at the 25th percentile to $2,498 at the 75th percentile, and $5,163 at the 90th percentile. The zip code 49727 has both the highest and lowest median tax bill, which is $1,119. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average East Jordan Assessed Value
$195,500
Average Charlevoix County Assessed Value
$226,100
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across East Jordan, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49727 | $62,200 | $119,850 | $195,500 | $394,950 | $862,180 |
Source: Ownwell
Property Tax Bills Across East Jordan, Michigan
In East Jordan, located in Charlevoix County, MI, property tax bills are determined by assessing the market value of a home and then applying the local tax rate. The median home price in East Jordan is $195,500, which serves as a baseline for calculating property taxes. The assessed value, typically a percentage of the market value, is then multiplied by the local tax rate to determine the tax bill. Several factors influence the final tax bill, including the home's location, size, and any applicable exemptions. For instance, in East Jordan, the tax bill for the 25th percentile is around $641, while the 75th percentile sees bills closer to $2,498. Homeowners in the 90th percentile can expect to pay up to $5,163. Compared to the national median property tax rate of 0.99%, East Jordan's property tax rates can significantly impact homeowners, depending on their property's assessed value and the specific tax bracket they fall into. This variability underscores the importance of understanding local tax assessments and potential exemptions.
Average East Jordan Tax Bill
$1,119
Average Charlevoix County Tax Bill
$1,211
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across East Jordan, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49727 | $402 | $641 | $1,119 | $2,498 | $5,163 |
Source: Ownwell