East Grand Rapids, Michigan Property Taxes
The median property tax rate in East Grand Rapids, MI, is 1.33%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in East Grand Rapids at $260,200, the typical annual property tax bill reaches $3,444, exceeding the national median of $2,690. Property taxes in East Grand Rapids 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 East Grand Rapids' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of East Grand Rapids 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
East Grand Rapids, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$3,461
$3,211
Ownwell’s East Grand Rapids Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Grand Rapids with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Grand Rapids 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 East Grand Rapids, Michigan
Property taxes in East Grand Rapids, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Grand Rapids is 1.33%, significantly higher than the U.S. national median of 0.99%. Local government entities within East Grand Rapids set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Grand Rapids 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 East Grand Rapids' effective property tax rate to other counties in Michigan and the national median. For comparison, the 49506 zip code has the highest median property tax rate of 1.33%, while the 49506 zip code also has the lowest median tax rate of 1.33%. Understanding how these cities compare with East Grand Rapids 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 East Grand Rapids Tax Rate
1.33%
Average Kent County Tax Rate
0.89%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Grand Rapids, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49506 | 1.19% | 1.28% | 1.33% | 1.79% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across East Grand Rapids, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in East Grand Rapids, Michigan. 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. Assessment notices in East Grand Rapids 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in East Grand Rapids is $260,200, with the highest and lowest median tax bills recorded at $3,444 in the 49506 zip code.
Property Tax Assessment Values Across East Grand Rapids, Michigan
Source: Ownwell
$153,000
$310,400
$467,800
Average East Grand Rapids Assessed Value
$260,200
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 East Grand Rapids, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49506 | $245,040 | $258,600 | $260,200 | $263,400 | $275,640 |
Source: Ownwell
Property Tax Bills Across East Grand Rapids, Michigan
In East Grand Rapids, property tax bills are calculated based on the assessed value of a property, which is typically 50% of its market value. For a median home price of $260,200, the assessed value would be approximately $130,100. The local property tax rate is applied to this assessed value to determine the tax bill. Several factors influence the tax bill, including property improvements, neighborhood developments, and changes in the local tax rate. Homeowners in East Grand Rapids can expect their property tax bills to vary. For instance, the 25th percentile tax bill is around $3,014, while the 75th percentile tax bill reaches $5,076. The highest median tax bill recorded in the area is $3,444. Compared to the national median property tax rate of 0.99%, East Grand Rapids homeowners may find their tax rates slightly higher, reflecting the area's desirable living conditions and robust public services. This system ensures that property taxes are fairly distributed based on property values and local economic factors.
Average East Grand Rapids Tax Bill
$3,444
Average Kent County Tax Bill
$2,321
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across East Grand Rapids, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49506 | $2,984 | $3,014 | $3,444 | $5,076 | $5,171 |
Source: Ownwell