Davison, Genesee County, Michigan Property Taxes
The median property tax rate in Davison, MI is 0.42%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Davison being $198,000, the typical annual property tax bill is $898, well below the national median of $2,690. Property taxes in Davison are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Davison'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 Davison 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
Davison, Genesee County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$832
$772
Ownwell’s Davison Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Davison with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Davison 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 Davison, Genesee County, Michigan
Property taxes in Davison, Michigan, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Davison is 0.42%, significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Davison set these rates annually, and they can vary significantly across different neighborhoods. Each year, Davison 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 Davison's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48423 zip code has the highest median property tax rate of 0.42%, while the same zip code also has the lowest median tax rate of 0.42%. Understanding how these cities compare with Davison provides valuable insights into the varying tax landscape across Genesee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Davison Tax Rate
0.42%
Average Genesee County Tax Rate
0.93%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Davison, Genesee County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48423 | 0.33% | 0.36% | 0.42% | 0.54% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Davison, Genesee County, Michigan
In Davison, 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 Genesee 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 Davison, 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 Davison helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Davison, the zip code 48423 has both the highest and lowest median tax bill, recorded at $898.
Property Tax Assessment Values Across Davison, Genesee County, Michigan
Source: Ownwell
$42,400
$166,700
$291,000
Average Davison Assessed Value
$198,000
Average Genesee County Assessed Value
$139,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Davison, Genesee County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48423 | $98,400 | $149,600 | $198,000 | $251,400 | $327,200 |
Source: Ownwell
Property Tax Bills Across Davison, Genesee County, Michigan
In Davison, Genesee County, MI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the market value of the property. Homeowners in Davison can expect a range of tax bills depending on the value of their property. For instance, the tax bill at the 25th percentile is around $633, while those at the 75th percentile can see bills as high as $1,332. The top 10% of tax bills reach up to $1,878. The median home price in Davison is $198,000, and the property tax rate in Davison is influenced by local government budgets and school funding requirements. Compared to the national median property tax rate of 0.99%, Davison’s rates can be seen as relatively moderate. These taxes significantly impact homeowners by contributing to essential community services such as public schools, infrastructure, and emergency services, thereby enhancing the quality of life in the area.
Average Davison Tax Bill
$898
Average Genesee County Tax Bill
$1,090
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Davison, Genesee County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48423 | $408 | $633 | $898 | $1,332 | $1,878 |
Source: Ownwell