Flushing, Michigan Property Taxes
The median property tax rate in Flushing, MI is 0.84%, lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $183,400 in Flushing, the typical annual property tax bill is $1,752, which is below the national median of $2,690. Property taxes in Flushing are calculated based on the tax assessed value, often reduced by various exemptions such as those for primary residences and agricultural properties. Understanding Flushing'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 Flushing 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
Flushing, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,541
Ownwell’s Flushing Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Flushing with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Flushing 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 Flushing, Michigan
Property taxes in Flushing, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Flushing is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Flushing set these rates annually, and they can vary significantly across different neighborhoods. Each year, Flushing 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 Flushing's effective property tax rate to other areas in Genesee County and the national median. For comparison, the zip code 48433 has both the highest and lowest median property tax rate in the county at 0.84%. Understanding how these cities compare with Flushing 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 Flushing Tax Rate
0.84%
Average Genesee County Tax Rate
0.93%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Flushing, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48433 | 0.57% | 0.67% | 0.84% | 1.28% | 1.67% |
Source: Ownwell
Property Tax Assessment Values Across Flushing, Michigan
In Flushing, 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 Flushing, 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 Flushing helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 48433 has the highest and lowest median tax bill, both at $1,752.
Average Flushing Assessed Value
$183,400
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 Flushing, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48433 | $114,400 | $147,400 | $183,400 | $234,350 | $317,000 |
Source: Ownwell
Property Tax Bills Across Flushing, Michigan
In Flushing, Genesee County, MI, property tax bills are calculated based on the assessed value of a home, which is typically 50% of its market value. For instance, with a median home price of $183,400, the assessed value would be around $91,700. The tax rate, applied to this assessed value, determines the tax bill. Various factors influence this calculation, including the property's location, any applicable exemptions, and local government budgets. Homeowners in Flushing can expect a range of tax bills. The 25th percentile tax bill is approximately $1,181, while the 75th percentile tax bill reaches $2,462. For those in the 90th percentile, the tax bill can be as high as $3,274. The highest median tax bill in the area is $1,752, found in the 48433 zip code, which is also the lowest median tax bill, indicating uniformity in property tax rates across the region. Understanding these factors is crucial for homeowners as property taxes significantly impact annual housing costs. Comparing this to the national median property tax rate of 0.99% can help homeowners gauge their financial planning better.
Average Flushing Tax Bill
$1,752
Average Genesee County Tax Bill
$1,090
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Flushing, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48433 | $805 | $1,181 | $1,752 | $2,462 | $3,274 |
Source: Ownwell