Brooklyn, Michigan Property Taxes
The median property tax rate in Brooklyn, MI is 0.81%, which is lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Brooklyn, the typical annual property tax bill reaches $1,848, falling below the national median of $2,690. Property taxes in Brooklyn 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 Brooklyn'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 Brooklyn 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
Brooklyn, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$1,797
$1,667
Ownwell’s Brooklyn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brooklyn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brooklyn 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 Brooklyn, Michigan
Property taxes in Brooklyn, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brooklyn is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Brooklyn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brooklyn 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 Brooklyn's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49230 zip code has the highest median property tax rate of 0.81%, while the 49230 zip code also has the lowest median tax rate of 0.81%. Understanding how these cities compare with Brooklyn provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brooklyn Tax Rate
0.81%
Average Jackson County Tax Rate
0.86%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brooklyn, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49230 | 0.56% | 0.64% | 0.81% | 1.21% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Brooklyn, Michigan
In Brooklyn, 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 Jackson 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 Brooklyn, 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 Brooklyn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $1,848 in zip code 49230, the same as the lowest median tax bill in the area.
Average Brooklyn Assessed Value
$221,800
Average Jackson County Assessed Value
$149,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brooklyn, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49230 | $73,880 | $137,600 | $221,800 | $355,500 | $507,480 |
Source: Ownwell
Property Tax Bills Across Brooklyn, Michigan
In Brooklyn, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, with a median home price of $221,800, the assessed value is used as the basis for calculating the tax. The tax rate in Jackson County is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property location, local tax rates, and any applicable exemptions or deductions. Homeowners in Brooklyn can expect their tax bills to vary widely. For instance, the 25th percentile tax bill is around $1,167, while the 75th percentile reaches $3,000, and the 90th percentile can go up to $4,708. These taxes significantly impact homeowners, as they contribute to the overall cost of homeownership. While the median tax bill in Brooklyn is $1,848, aligning with the highest and lowest median tax bills in the 49230 zip code, it remains below the national median property tax rate of 0.99%.
Average Brooklyn Tax Bill
$1,848
Average Jackson County Tax Bill
$1,283
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Brooklyn, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49230 | $714 | $1,167 | $1,848 | $3,000 | $4,708 |
Source: Ownwell