Grand Ledge, Michigan Property Taxes
The median property tax rate in Grand Ledge, MI is 0.43%, significantly lower than both the national median of 0.99% and Michigan's state median of 1.07%. With a median home value of $174,600 in Grand Ledge, the typical annual property tax bill amounts to $777, which is well below the national median of $2,690. Property taxes in Grand Ledge 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 Grand Ledge'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 Grand Ledge or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grand Ledge, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$751
Ownwell’s Grand Ledge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grand Ledge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grand Ledge 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 Grand Ledge, Michigan
Property taxes in Grand Ledge, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grand Ledge is 1.62%, higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Grand Ledge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grand Ledge 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 Grand Ledge's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48837 zip code has the highest median property tax rate of 1.62%, while the same zip code has the lowest median tax rate of 1.62%. Understanding how these cities compare with Grand Ledge provides valuable insights into the varying tax landscape across Ionia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grand Ledge Tax Rate
0.43%
Average Ionia County Tax Rate
0.49%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grand Ledge, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48837 | 0.35% | 0.40% | 0.43% | 0.51% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Grand Ledge, Michigan
In Grand Ledge, 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 local 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 Grand Ledge, 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 Grand Ledge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 48837 has the highest median tax bill at $777.00, which is also the lowest median tax bill in the area.
Average Grand Ledge Assessed Value
$174,600
Average Ionia County Assessed Value
$146,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grand Ledge, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48837 | $103,840 | $126,800 | $174,600 | $251,200 | $283,880 |
Source: Ownwell
Property Tax Bills Across Grand Ledge, Michigan
In Grand Ledge, Ionia County, MI, property tax bills are calculated based on the assessed value of a home, which is typically 50% of the market value. For instance, with a median home price of $174,600, the assessed value would be approximately $87,300. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors that influence the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. The 25th percentile tax bill in Grand Ledge is around $585, while the 75th percentile reaches $1,055. For those in the 90th percentile, the tax bill can be as high as $1,369. These property tax bills significantly impact homeowners, as they represent a substantial annual expense. Compared to the national median property tax rate of 0.99%, homeowners in Grand Ledge may find their tax bills to be relatively moderate, depending on their property's assessed value and the specific tax rates applied.
Average Grand Ledge Tax Bill
$777
Average Ionia County Tax Bill
$910
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Grand Ledge, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48837 | $482 | $585 | $777 | $1,055 | $1,369 |
Source: Ownwell