Williamsburg, Michigan Property Taxes
The median property tax rate in Williamsburg, MI is 0.84%, 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 Williamsburg at $318,200, the typical annual property tax bill reaches $2,667, slightly below the national median of $2,690. Property taxes in Williamsburg 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 Williamsburg'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 Williamsburg 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
Williamsburg, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$2,673
Ownwell’s Williamsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Williamsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Williamsburg 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 Williamsburg, Michigan
Property taxes in Williamsburg, MI, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Williamsburg is 0.84%, which is below the U.S. national median of 0.99%. Local government entities within Williamsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Williamsburg 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. Understanding how these cities compare with Williamsburg provides valuable insights into the varying tax landscape across Kalkaska County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Williamsburg Tax Rate
0.84%
Average Kalkaska County Tax Rate
0.93%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Williamsburg, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49690 | 0.62% | 0.71% | 0.84% | 1.02% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Williamsburg, Michigan
In Williamsburg, 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 Kalkaska 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 Williamsburg, 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 Williamsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Williamsburg is $2,667 in zip code 49690, while the lowest median tax bill is also $2,667 in the same zip code.
Average Williamsburg Assessed Value
$318,200
Average Kalkaska County Assessed Value
$137,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Williamsburg, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49690 | $144,400 | $215,900 | $318,200 | $467,900 | $659,400 |
Source: Ownwell
Property Tax Bills Across Williamsburg, Michigan
In Williamsburg, Kalkaska County, MI, property tax bills are determined by applying the local tax rate to the assessed value of a home. The assessed value is typically a percentage of the property's market value. Homeowners in Williamsburg see tax bills that range significantly based on their property's value. For instance, the 25th percentile tax bill is around $1,791, while the 75th percentile tax bill rises to $4,343. Those at the 90th percentile face tax bills as high as $6,706. The median home price in Williamsburg is $318,200, which influences how much homeowners pay in property taxes. Compared to the national median property tax rate of 0.99%, Williamsburg’s rates can vary, affecting the financial obligations of its residents. Factors such as property improvements, neighborhood developments, and changes in local tax rates can also impact the final tax bill. Understanding these factors is crucial for homeowners to anticipate their annual tax liabilities accurately.
Average Williamsburg Tax Bill
$2,667
Average Kalkaska County Tax Bill
$1,200
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Williamsburg, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49690 | $1,318 | $1,791 | $2,667 | $4,343 | $6,706 |
Source: Ownwell