Grand Ledge, Michigan Property Taxes
The median property tax rate in Grand Ledge, MI is 1.50%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Grand Ledge, the typical annual property tax bill reaches $3,120, exceeding the national median of $2,690. Property taxes in Grand Ledge 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 Grand Ledge'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 Grand Ledge 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
Grand Ledge, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.5%
Estimate Property Tax Bill
$3,030
$2,812
Ownwell’s Grand Ledge Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and prospective buyers to estimate their annual property taxes in Grand Ledge with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Grand Ledge to provide an estimate of your property tax bill. This tool offers crucial insights into potential tax liabilities, helping you make informed financial decisions. For those interested in more granular trends, you can explore localized information by scrolling down. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Grand Ledge, Michigan
Property taxes in Grand Ledge, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grand Ledge is 1.50%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Grand Ledge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grand Ledge 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 Grand Ledge's effective property tax rate to other areas in Michigan and the national median. For comparison, the highest and lowest median property tax rates in Grand Ledge both stand at 1.50%, reflecting a consistent rate across the city. Understanding how these rates compare with neighboring areas provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring regions.
Average Grand Ledge Tax Rate
1.50%
Average Clinton County Tax Rate
1.43%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grand Ledge, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48837 | 1.23% | 1.39% | 1.50% | 1.59% | 1.77% |
Source: Ownwell
Property Tax Assessment Values Across Grand Ledge, Michigan
In Grand Ledge, 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 Clinton 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 Grand Ledge, 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. Grand Ledge's median home price is $202,000, with tax bills ranging from $2,545 at the 25th percentile to $6,447 at the 90th percentile. The highest and lowest median tax bills are both $3,120 in zip code 48837. By understanding 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 Grand Ledge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Grand Ledge Assessed Value
$202,000
Average Clinton County Assessed Value
$186,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grand Ledge, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48837 | $110,940 | $160,700 | $202,000 | $310,300 | $444,440 |
Source: Ownwell
Property Tax Bills Across Grand Ledge, Michigan
In Grand Ledge, property tax bills are calculated based on the assessed value of the property, which is determined by local assessors. The assessed value is typically a percentage of the market value of the home. For example, with a median home price of $202,000, the property tax rate in the area can significantly impact the final tax bill. Several factors influence the tax bill, including the property's location within Clinton County, any applicable exemptions, and the specific tax rate set by local authorities. Homeowners in Grand Ledge can expect their tax bills to vary widely. The 25th percentile tax bill is approximately $2,545, while the 75th percentile reaches around $4,451. At the 90th percentile, tax bills can soar to $6,447. These property taxes fund essential local services such as schools, public safety, and infrastructure. Homeowners should be aware of how these taxes are calculated, as they can significantly affect annual expenses and overall affordability of owning property in Grand Ledge.
Average Grand Ledge Tax Bill
$3,120
Average Clinton County Tax Bill
$2,460
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Grand Ledge, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48837 | $1,918 | $2,545 | $3,120 | $4,451 | $6,447 |
Source: Ownwell