Leslie, Michigan Property Taxes
The median property tax rate in Leslie, MI is 1.40%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Leslie at $172,984, the typical annual property tax bill reaches $2,520, slightly below the national median of $2,690. Property taxes in Leslie are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Leslie'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 Leslie 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
Leslie, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$2,422
Ownwell’s Leslie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leslie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leslie 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 Leslie, Michigan
Property taxes in Leslie, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leslie is 1.40%, significantly higher than the U.S. national median of 0.99%. Local government entities within Leslie set these rates annually, and they can vary across different neighborhoods. Each year, Leslie 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 Leslie's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49251 zip code has the highest median property tax rate of 1.40%, while the same zip code also has the lowest median tax rate of 1.40%. Understanding how these cities compare with Leslie provides valuable insights into the varying tax landscape across Ingham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leslie Tax Rate
1.40%
Average Ingham County Tax Rate
2.06%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leslie, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49251 | 1.05% | 1.18% | 1.40% | 1.80% | 2.24% |
Source: Ownwell
Property Tax Assessment Values Across Leslie, Michigan
In Leslie, 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 Ingham 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 Leslie, 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 Leslie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Leslie are both $2520.00, found in zip code 49251.
Average Leslie Assessed Value
$172,984
Average Ingham County Assessed Value
$152,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leslie, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49251 | $65,090 | $118,100 | $172,984 | $249,142 | $344,207 |
Source: Ownwell
Property Tax Bills Across Leslie, Michigan
In Leslie, located in Ingham County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The tax rate, applied to this assessed value, determines the annual property tax bill. For instance, with a median home price of $172,984, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. Factors influencing the tax bill include the property's location, improvements, and any applicable exemptions. The tax bill in Leslie can range significantly, with the 25th percentile at $1,908 and the 75th percentile reaching $3,384. At the higher end, the 90th percentile tax bill can be as much as $4,617. These figures highlight how property taxes can impact homeowners differently, depending on their property's value and the local tax rate. Given that the national median property tax rate is 0.99%, understanding these local variations is crucial for homeowners planning their finances.
Average Leslie Tax Bill
$2,520
Average Ingham County Tax Bill
$3,019
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Leslie, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49251 | $1,417 | $1,908 | $2,520 | $3,384 | $4,617 |
Source: Ownwell