Scotts, Michigan Property Taxes
The median property tax rate in Scotts, Michigan is 0.91%, slightly below both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Scotts at $235,300, the typical annual property tax bill reaches $2,162, which is lower than the national median of $2,690. Property taxes in Scotts 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 Scotts' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Scotts 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
Scotts, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$2,141
$1,987
Ownwell’s Scotts Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Scotts with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Scotts 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 Scotts, Michigan
Property taxes in Scotts, Michigan, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Scotts is 1.54%, higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Scotts set these rates annually, and they can vary significantly across different neighborhoods. Each year, Scotts 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 Scotts' effective property tax rate to other counties in Michigan and the national median. For comparison, the 49088 zip code has the highest median property tax rate of 1.54%, while the 49088 zip code also has the lowest median tax rate of 1.54%. Understanding how these cities compare with Scotts provides valuable insights into the varying tax landscape across Kalamazoo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Scotts Tax Rate
0.91%
Average Kalamazoo County Tax Rate
0.87%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Scotts, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49088 | 0.38% | 0.63% | 0.91% | 1.09% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Scotts, Michigan
In Scotts, 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 county assessor 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 Scotts, 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 Scotts helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Kalamazoo County is $235,300, with the highest and lowest median tax bills both recorded at $2,162 in the 49088 zip code.
Average Scotts Assessed Value
$235,300
Average Kalamazoo County Assessed Value
$197,650
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Scotts, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49088 | $121,600 | $177,050 | $235,300 | $317,550 | $435,640 |
Source: Ownwell
Property Tax Bills Across Scotts, Michigan
In Scotts, located in Kalamazoo County, 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 $235,300, homeowners can expect their tax bill to vary significantly. The 25th percentile of tax bills in Scotts is around $1,259, while the 75th percentile reaches up to $2,965, and the 90th percentile can be as high as $4,109. These variations depend on factors such as property size, location, and any applicable exemptions. The assessed value is multiplied by the local tax rate to determine the annual tax bill. This process ensures that property taxes reflect the property's worth and contribute to local services like schools and infrastructure. Comparing these figures to the national median property tax rate of 0.99%, homeowners in Scotts may find their tax obligations vary widely based on individual property assessments, yet they support essential community services and infrastructure.
Average Scotts Tax Bill
$2,162
Average Kalamazoo County Tax Bill
$1,531
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Scotts, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49088 | $654 | $1,259 | $2,162 | $2,965 | $4,109 |
Source: Ownwell