Comstock Park, Michigan Property Taxes
The median property tax rate in Comstock Park, MI is 0.85%, which is lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $249,500 in Comstock Park, the typical annual property tax bill is around $2,177, falling below the national median of $2,690. Property taxes in Comstock Park are calculated based on the assessed value, which often is less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Comstock Park’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 Comstock Park 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
Comstock Park, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$2,121
Ownwell’s Comstock Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Comstock Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Comstock Park 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 Comstock Park, Michigan
Property taxes in Comstock Park, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Comstock Park is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Comstock Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Comstock Park 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 Comstock Park's effective property tax rate to other areas in Kent County and the national median. For comparison, the zip code 49321 has the same median property tax rate of 0.85%. Understanding how these areas compare with Comstock Park 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 Comstock Park Tax Rate
0.85%
Average Kent County Tax Rate
0.89%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Comstock Park, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49321 | 0.64% | 0.75% | 0.85% | 1.02% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Comstock Park, Michigan
In Comstock Park, 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 Comstock Park, 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. For example, the median home price in Comstock Park is $249,500, with tax bills ranging from $1,709 at the 25th percentile to $3,755 at the 90th percentile. The highest and lowest median tax bill in the area is $2,177 in the 49321 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 Comstock Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Comstock Park, Michigan
Source: Ownwell
$153,000
$310,400
$467,800
Average Comstock Park Assessed Value
$249,500
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 Comstock Park, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49321 | $167,500 | $210,550 | $249,500 | $312,000 | $386,200 |
Source: Ownwell
Property Tax Bills Across Comstock Park, Michigan
In Comstock Park, located in Kent County, MI, property tax bills are calculated based on several key factors. The primary element is the assessed value of the property, which is determined by local assessors and generally reflects 50% of the property's market value. For instance, with a median home price of $249,500, homeowners can expect their assessed value to be around $124,750. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. In Comstock Park, property tax bills vary significantly. For example, the tax bill at the 25th percentile is $1,709, while at the 75th percentile, it reaches $2,874. Those at the 90th percentile face a tax bill of $3,755. These variations are influenced by factors such as property location, improvements, and exemptions. Compared to the national median property tax rate of 0.99%, homeowners in this area may find their tax bills to be relatively moderate. Understanding these elements helps homeowners anticipate their financial obligations and plan accordingly.
Average Comstock Park Tax Bill
$2,177
Average Kent County Tax Bill
$2,321
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Comstock Park, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49321 | $1,363 | $1,709 | $2,177 | $2,874 | $3,755 |
Source: Ownwell