Stockbridge, Michigan Property Taxes
The median property tax rate in Stockbridge, MI is 1.13%, which is considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $213,900 in Stockbridge, the typical annual property tax bill reaches $2,495, slightly below the national median of $2,690. Property taxes in Stockbridge 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 Stockbridge'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 Stockbridge 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
Stockbridge, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$2,417
Ownwell’s Stockbridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stockbridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stockbridge 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 Stockbridge, Michigan
Property taxes in Stockbridge, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stockbridge is 1.13%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Stockbridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stockbridge 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 Stockbridge's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49285 zip code has the highest median property tax rate of 1.13%, while the 49285 zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Stockbridge 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 Stockbridge Tax Rate
1.13%
Average Ingham County Tax Rate
2.06%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stockbridge, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49285 | 0.76% | 0.90% | 1.13% | 1.54% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Stockbridge, Michigan
In Stockbridge, 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 Stockbridge, 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 Stockbridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 49285 has both the highest and lowest median tax bill, recorded at $2,495.
Average Stockbridge Assessed Value
$213,900
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 Stockbridge, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49285 | $73,700 | $148,000 | $213,900 | $298,200 | $400,000 |
Source: Ownwell
Property Tax Bills Across Stockbridge, Michigan
In Stockbridge, property tax bills are calculated based on the assessed value of the home, which is typically a percentage of the market value. For instance, with a median home price of $213,900 in the area, homeowners can expect varying tax bills depending on specific assessments and local tax rates. The median property tax rate in Ingham County is 1.17%, slightly higher than the national median of 0.99%. This means that homeowners in Stockbridge often face higher property taxes compared to the national average. Several factors influence the final tax bill, including property improvements, neighborhood developments, and local government budgets. For example, the 25th percentile tax bill is around $1,821, while the 75th percentile tax bill reaches $3,448. At the higher end, the 90th percentile tax bill can be as much as $4,640. These variations significantly impact homeowners, affecting their annual budgets and overall financial planning. Understanding these factors can help homeowners anticipate and manage their property tax obligations more effectively.
Average Stockbridge Tax Bill
$2,495
Average Ingham County Tax Bill
$3,019
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Stockbridge, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49285 | $1,224 | $1,821 | $2,495 | $3,448 | $4,640 |
Source: Ownwell