Concord, Michigan Property Taxes
The median property tax rate in Concord, MI is 0.44%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Concord, the typical annual property tax bill amounts to $885, well below the national median of $2,690. Property taxes in Concord are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Concord'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 Concord 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
Concord, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$729
Ownwell’s Concord Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Concord with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Concord 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 Jackson County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Concord, Michigan
Property taxes in Concord, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Concord is 0.44%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Concord set these rates annually, and they can vary significantly across different neighborhoods. Each year, Concord 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 Concord's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49237 has both the highest and the lowest median property tax rate of 0.44%. Understanding how these cities compare with Concord 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 Concord Tax Rate
0.44%
Average Jackson County Tax Rate
0.86%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Concord, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49237 | 0.30% | 0.35% | 0.44% | 0.82% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Concord, Michigan
In Concord, 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 Concord, 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. For instance, the median home price in Concord is $165,600, with the 25th percentile tax bill at $561 and the 75th percentile at $1,325. The zip code with the highest and lowest median tax bill is 49237, both at $885. Being aware of these valuation processes in Concord helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Concord Assessed Value
$165,600
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 Concord, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49237 | $55,080 | $107,400 | $165,600 | $241,800 | $314,520 |
Source: Ownwell
Property Tax Bills Across Concord, Michigan
In Concord, located in Jackson 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 median home price in Concord is $165,600, and property tax rates are applied to this assessed value to determine the annual tax bill. Various factors influence the tax bill, including the property’s location, its assessed value, and applicable exemptions or deductions. Homeowners in Concord can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is approximately $561, while those in the 75th percentile pay around $1,325. At the higher end, the 90th percentile tax bill reaches up to $2,022. These figures indicate a range of property tax burdens, reflecting differences in property values and specific local tax rates. Understanding how these factors affect your property tax bill is crucial for financial planning and homeownership in Concord. By staying informed about local tax rates and assessments, homeowners can better anticipate their annual tax obligations.
Average Concord Tax Bill
$885
Average Jackson County Tax Bill
$1,283
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Concord, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49237 | $317 | $561 | $885 | $1,325 | $2,022 |
Source: Ownwell