Vermontville, Michigan Property Taxes
The median property tax rate in Vermontville, MI is 0.43%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Vermontville at $152,000, the typical annual property tax bill is $681, which is well below the national median of $2,690. Property taxes in Vermontville are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Vermontville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Vermontville or another part of Eaton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Vermontville, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$654
$607
Ownwell’s Vermontville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Vermontville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vermontville 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 Vermontville, Michigan
Property taxes in Vermontville, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Vermontville is 0.43%, significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Vermontville set these rates annually, and they can vary across different neighborhoods. Each year, Vermontville 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 Vermontville's effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 49096 has the highest median property tax rate of 0.43%, while the lowest median tax rate is also 0.43%. Understanding how these areas compare with Vermontville 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 Vermontville Tax Rate
0.43%
Average Eaton County Tax Rate
0.81%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Vermontville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49096 | 0.28% | 0.37% | 0.43% | 0.52% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Vermontville, Michigan
In Vermontville, 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 Vermontville, 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 Vermontville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Vermontville are both $681, found in the 49096 zip code.
Average Vermontville Assessed Value
$152,000
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 Vermontville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49096 | $31,600 | $96,600 | $152,000 | $213,300 | $291,400 |
Source: Ownwell
Property Tax Bills Across Vermontville, Michigan
In Vermontville, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For homeowners in Eaton County, the median home price is $152,000. The tax rate applied to this assessed value determines the final tax bill. Factors such as property location, size, and any applicable exemptions or deductions also play a role in this calculation. Homeowners in Vermontville can expect their property tax bills to vary significantly. The 25th percentile tax bill is around $430, while the 75th percentile reaches $1,107, and the 90th percentile can go up to $1,679. This range indicates that property taxes can be a substantial expense for some homeowners, impacting their overall cost of living. Compared to the national median property tax rate of 0.99%, Vermontville's tax rates reflect the local economic conditions and public service funding needs. Understanding these factors helps homeowners plan their finances more effectively.
Average Vermontville Tax Bill
$681
Average Eaton County Tax Bill
$1,470
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Vermontville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49096 | $252 | $430 | $681 | $1,107 | $1,679 |
Source: Ownwell