Williamston, Michigan Property Taxes
The median property tax rate in Williamston, MI is 1.71%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Williamston at $250,200, the typical annual property tax bill reaches $4,296, exceeding the national median of $2,690. Property taxes in Williamston 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 Williamston'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 Williamston 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
Williamston, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.71%
Estimate Property Tax Bill
$4,278
$3,970
Ownwell’s Williamston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Williamston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Williamston 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 Williamston, Michigan
Property taxes in Williamston, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Williamston is 1.71%, significantly higher than the U.S. national median of 0.99%. Local government entities within Williamston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Williamston 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 Williamston's effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 48895 has the highest median property tax rate of 1.71%, while the same zip code also has the lowest median tax rate of 1.71%. Understanding how these areas compare with Williamston 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 Williamston Tax Rate
1.71%
Average Ingham County Tax Rate
2.06%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Williamston, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48895 | 1.26% | 1.45% | 1.71% | 2.00% | 2.43% |
Source: Ownwell
Property Tax Assessment Values Across Williamston, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Williamston, Michigan. 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 Williamston, 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. The median home price in Williamston is $250,200, with tax bills ranging from $3,196 at the 25th percentile to $8,179 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Williamston Assessed Value
$250,200
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 Williamston, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48895 | $125,360 | $178,300 | $250,200 | $359,700 | $498,240 |
Source: Ownwell
Property Tax Bills Across Williamston, Michigan
In Williamston, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value. For instance, with a median home price of $250,200, the tax bill can vary significantly. Factors such as property location, improvements, and local tax rates play a crucial role. Homeowners in Williamston might see a property tax bill around the 25th percentile at $3,196, while those in higher-value properties could see bills at the 75th percentile reaching $5,987. The top 10% of homeowners could face tax bills as high as $8,179. Comparing this to the national median property tax rate of 0.99%, Williamston's rates can be considered relatively high, impacting homeowners' annual expenses significantly. These taxes contribute to local services such as schools, infrastructure, and public safety, directly affecting the quality of life in the community.
Average Williamston Tax Bill
$4,296
Average Ingham County Tax Bill
$3,019
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Williamston, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48895 | $2,364 | $3,196 | $4,296 | $5,987 | $8,179 |
Source: Ownwell