Durand, Genesee County, Michigan Property Taxes
The median property tax rate in Durand, MI is 0.38%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $217,200 in Durand, the typical annual property tax bill amounts to $836, which is well below the national median of $2,690. Property taxes in Durand are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Durand'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 Durand or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Durand, Genesee County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$825
$766
Ownwell’s Durand Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Durand with just two data inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Durand to project your property tax bill. This valuable tool provides insights into potential tax liabilities. For those interested in exploring trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Durand, Genesee County, Michigan
Property taxes in Durand, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Durand is 0.38%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Durand set these rates annually, and they can vary significantly across different neighborhoods. Each year, Durand 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 Durand's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in Genesee County is significantly higher, while the lowest median tax rate is also noted. Understanding how these cities compare with Durand 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 Durand Tax Rate
0.38%
Average Genesee County Tax Rate
0.93%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Durand, Genesee County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48429 | 0.34% | 0.36% | 0.38% | 0.42% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Durand, Genesee County, Michigan
In Durand, 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 Durand, 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 Durand helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 48429 has the highest and lowest median tax bill at $836.
Property Tax Assessment Values Across Durand, Genesee County, Michigan
Source: Ownwell
$42,400
$166,700
$291,000
Average Durand Assessed Value
$217,200
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 Durand, Genesee County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48429 | $116,920 | $160,400 | $217,200 | $282,600 | $367,040 |
Source: Ownwell
Property Tax Bills Across Durand, Genesee County, Michigan
Property tax bills in Durand, located in Genesee County, MI, are calculated based on the assessed value of a property, which is typically a percentage of its market value. The median home price in Durand is $217,200, and the property tax rate in the area is reflective of the county's standards. Homeowners in this region can expect their tax bills to vary significantly, with the 25th percentile tax bill at $623 and the 75th percentile at $1,139. For those in the 90th percentile, the tax bill can reach up to $1,405. These tax bills are influenced by several factors, including property size, location, and any applicable exemptions or deductions. The highest and lowest median tax bills in the area are both recorded at $836, indicating a relatively consistent tax rate across different properties. This system ensures that homeowners contribute to local services and infrastructure, but it also means that those with higher-valued properties will face higher tax obligations.
Average Durand Tax Bill
$836
Average Genesee County Tax Bill
$1,090
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Durand, Genesee County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48429 | $467 | $623 | $836 | $1,139 | $1,405 |
Source: Ownwell