Spring Arbor, Michigan Property Taxes
The median property tax rate in Spring Arbor, MI is 0.91%, slightly below the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $203,400 in Spring Arbor, the typical annual property tax bill is approximately $1,894, which is lower than the national median of $2,690. Property taxes in Spring Arbor are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. By understanding Spring Arbor's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve significant annual savings. Whether you're residing in the heart of Spring Arbor or another area within the city, a thorough comprehension of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Spring Arbor, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$1,851
Ownwell’s SPRING ARBOR Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SPRING ARBOR with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SPRING ARBOR 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 Spring Arbor, Michigan
Property taxes in Spring Arbor, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spring Arbor is 0.91%, which is lower than the U.S. national median of 0.99%. Local government entities within Spring Arbor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spring Arbor 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 Spring Arbor's effective property tax rate to other areas in Jackson County and the national median. For comparison, the 49283 zip code has both the highest and lowest median property tax rate of 0.91%. Understanding how these cities compare with Spring Arbor 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 Spring Arbor Tax Rate
0.91%
Average Jackson County Tax Rate
0.86%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spring Arbor, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49283 | 0.49% | 0.79% | 0.91% | 1.10% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Spring Arbor, Michigan
In Spring Arbor, 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 Spring Arbor, 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. The median home price in Spring Arbor is $203,400, with tax bills ranging from $1,315 at the 25th percentile to $3,447 at the 90th percentile. The highest and lowest median tax bills are both $1,894 in the 49283 zip code. 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 Spring Arbor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Spring Arbor Assessed Value
$203,400
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 Spring Arbor, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49283 | $112,400 | $157,000 | $203,400 | $261,600 | $335,960 |
Source: Ownwell
Property Tax Bills Across Spring Arbor, Michigan
In Spring Arbor, MI, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the property's size, location, and condition. For homeowners in Spring Arbor, the median home price is $203,400, which provides a baseline for tax calculations. The tax bills in this area vary significantly; the 25th percentile tax bill is $1,315, while the 75th percentile tax bill reaches $2,574. For those at the 90th percentile, the tax bill can be as high as $3,447. Comparatively, the national median property tax rate is 0.99%, which helps put these figures into perspective. The highest and lowest median tax bills in the area both stand at $1,894, highlighting some consistency within the 49283 zip code. These property taxes directly impact homeowners' annual expenses, making it crucial to understand how these values are determined.
Average Spring Arbor Tax Bill
$1,894
Average Jackson County Tax Bill
$1,283
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Spring Arbor, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49283 | $836 | $1,315 | $1,894 | $2,574 | $3,447 |
Source: Ownwell