Stockbridge, Michigan Property Taxes
The median property tax rate in Stockbridge, MI is 0.38%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Stockbridge at $223,500, the typical annual property tax bill is $881, which is well below the national median of $2,690. Property taxes in Stockbridge are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Stockbridge'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 Stockbridge 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
Stockbridge, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$849
$788
Ownwell’s Stockbridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stockbridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stockbridge 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 Stockbridge, Michigan
Property taxes in Stockbridge, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stockbridge is 1.55%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Stockbridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stockbridge 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 Stockbridge's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in Michigan is found in 48169 with a rate of 2.45%, while the lowest median tax rate is in 48414 at 1.36%. Understanding how these cities compare with Stockbridge 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 Stockbridge Tax Rate
0.38%
Average Jackson County Tax Rate
0.86%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stockbridge, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49285 | 0.32% | 0.35% | 0.38% | 0.43% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Stockbridge, Michigan
In Stockbridge, 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 Stockbridge, 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 Stockbridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $881.00, found in the 49285 zip code.
Average Stockbridge Assessed Value
$223,500
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 Stockbridge, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49285 | $124,360 | $174,850 | $223,500 | $299,600 | $409,240 |
Source: Ownwell
Property Tax Bills Across Stockbridge, Michigan
In Stockbridge, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Homeowners in Stockbridge can expect a median home price of $223,500. The tax rate applied to this assessed value determines the final tax bill. Factors such as property improvements, neighborhood developments, and changes in the local economy can influence the assessed value. For homeowners, the property tax bill can vary significantly. For instance, the 25th percentile tax bill is around $666, while the 75th percentile tax bill reaches $1,218. At the 90th percentile, homeowners might see tax bills as high as $1,777. The highest and lowest median tax bills in the area are both $881, found in the 49285 zip code. Compared to the national median property tax rate of 0.99%, Stockbridge's tax bills reflect the local economic conditions and property values, impacting homeowners' annual financial obligations.
Average Stockbridge Tax Bill
$881
Average Jackson County Tax Bill
$1,283
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Stockbridge, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49285 | $483 | $666 | $881 | $1,218 | $1,777 |
Source: Ownwell