Grand Ledge, Michigan Property Taxes
The median property tax rate in Grand Ledge, MI is 0.92%, slightly lower than both the national median of 0.99% and Michigan's state median of 1.07%. With a median home value of $208,000 in Grand Ledge, the typical annual property tax bill is $1,947, which is below the national median of $2,690. Property taxes in Grand Ledge are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like 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
0.92%
Estimate Property Tax Bill
$1,914
$1,776
Ownwell’s Grand Ledge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grand Ledge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grand Ledge 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 Grand Ledge, Michigan
Property taxes in Grand Ledge, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grand Ledge is 0.92%, which is just below 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 Eaton County and the national median. For comparison, the zip code 48837 has both the highest and lowest median property tax rate of 0.92%. Understanding how these cities compare with Grand Ledge provides valuable insights into the varying tax landscape across Eaton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grand Ledge Tax Rate
0.92%
Average Eaton County Tax Rate
0.81%
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 | 0.42% | 0.55% | 0.92% | 1.28% | 1.51% |
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 Eaton 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. 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 median home price in Grand Ledge is $208,000, with the 25th percentile tax bill at $1,343 and the 75th percentile tax bill at $2,865. The highest and lowest median tax bills both stand at $1,947 in the 48837 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 Grand Ledge Assessed Value
$208,000
Average Eaton County Assessed Value
$184,400
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 | $85,600 | $146,400 | $208,000 | $297,800 | $377,300 |
Source: Ownwell
Property Tax Bills Across Grand Ledge, Michigan
In Grand Ledge, located in Eaton County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is typically a percentage of the property's market value. Homeowners in Grand Ledge can expect property tax bills that vary significantly, reflecting the diverse range of property values within the area. Several factors influence the tax bill, including the property's location, size, and any improvements made. For example, the median home price in Grand Ledge is $208,000. Property tax bills in the 25th percentile are around $1,343, while those in the 75th percentile reach up to $2,865. The 90th percentile sees even higher taxes, with bills around $3,872. The highest and lowest median tax bills in the area both stand at $1,947, indicating a relatively consistent median rate. Compared to the national median property tax rate of 0.99%, homeowners in Grand Ledge may find their property tax rates to be competitive, depending on their property's assessed value and specific circumstances.
Average Grand Ledge Tax Bill
$1,947
Average Eaton County Tax Bill
$1,470
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 | $852 | $1,343 | $1,947 | $2,865 | $3,872 |
Source: Ownwell