Caledonia, Michigan Property Taxes
The median property tax rate in Caledonia, MI is 0.79%, notably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $330,800, the typical annual property tax bill in Caledonia is $2,665, just under the national median of $2,690. Property taxes in Caledonia are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Navigating Caledonia's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Caledonia or another part of Kent County, understanding the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Caledonia, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$2,613
$2,425
Ownwell’s Caledonia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Caledonia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Caledonia 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 Caledonia, Michigan
Property taxes in Caledonia, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Caledonia is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Caledonia set these rates annually, and they can vary across different neighborhoods. Each year, Caledonia 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 Caledonia's effective property tax rate to other areas in Kent County and the national median. For comparison, the zip code 49316 has both the highest and lowest median property tax rate of 0.79%. Understanding how these areas compare with Caledonia provides valuable insights into the varying tax landscape across Kent County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Caledonia Tax Rate
0.79%
Average Kent County Tax Rate
0.89%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Caledonia, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49316 | 0.61% | 0.69% | 0.79% | 0.91% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Caledonia, Michigan
In Caledonia, 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 Kent 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 Caledonia, 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 Caledonia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Caledonia, the median home price is $330,800, with the median tax bill at the 25th percentile being $1,988 and at the 75th percentile being $3,547. The highest median tax bill is $2,665 in zip code 49316, which is also the lowest median tax bill for the area.
Average Caledonia Assessed Value
$330,800
Average Kent County Assessed Value
$248,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Caledonia, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49316 | $189,440 | $262,200 | $330,800 | $420,200 | $537,680 |
Source: Ownwell
Property Tax Bills Across Caledonia, Michigan
In Caledonia, located in Kent 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 Caledonia stands at $330,800. Property taxes are influenced by various factors, including local tax rates and specific property characteristics. In this region, the property tax rate is competitive compared to the national median property tax rate of 0.99%. Homeowners in Caledonia can expect their tax bills to vary significantly. At the 25th percentile, property tax bills are around $1,988, while at the 75th percentile, they can reach up to $3,547. For those at the 90th percentile, the tax bill can be as high as $4,446. The highest median tax bill in Caledonia is $2,665, which is consistent across the zip code 49316. These taxes fund essential community services like schools, infrastructure, and public safety, directly impacting the quality of life for residents.
Average Caledonia Tax Bill
$2,665
Average Kent County Tax Bill
$2,321
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Caledonia, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49316 | $1,399 | $1,988 | $2,665 | $3,547 | $4,446 |
Source: Ownwell