Grand Rapids, Michigan Property Taxes
The median property tax rate in Grand Rapids, MI is 0.92%, slightly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Grand Rapids, the typical annual property tax bill reaches $2,201, which is below the national median of $2,690. Property taxes in Grand Rapids are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding 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 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
Grand Rapids, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$2,101
Ownwell’s Grand Rapids Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grand Rapids with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in 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 Grand Rapids, Michigan
Property taxes in Grand Rapids, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grand Rapids is 0.92%, slightly below the U.S. national median of 0.99%. Local government entities within Grand Rapids set these rates annually, and they can vary significantly across different neighborhoods. Each year, 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 Grand Rapids' effective property tax rate to other areas in Kent County and the national median. For comparison, the 49506 zip code has the highest median property tax rate of 1.16%, while the 49525 zip code has the lowest median tax rate of 0.72%. Understanding how these areas compare with 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 Grand Rapids Tax Rate
0.92%
Average Kent County Tax Rate
0.89%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grand Rapids, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49503 | 0.62% | 0.77% | 1.04% | 1.39% | 1.81% |
| 49504 | 0.68% | 0.81% | 0.98% | 1.28% | 1.50% |
| 49505 | 0.72% | 0.82% | 0.98% | 1.24% | 1.42% |
| 49506 | 0.70% | 0.85% | 1.16% | 1.46% | 1.92% |
| 49507 | 0.55% | 0.69% | 0.88% | 1.16% | 1.41% |
| 49508 | 0.78% | 0.86% | 0.95% | 1.18% | 1.39% |
| 49512 | 0.78% | 0.89% | 1.05% | 1.23% | 1.40% |
| 49525 | 0.54% | 0.61% | 0.72% | 0.88% | 1.00% |
| 49534 | 0.75% | 0.79% | 0.86% | 1.05% | 1.21% |
| 49544 | 0.69% | 0.72% | 0.81% | 0.97% | 1.14% |
| 49546 | 0.61% | 0.68% | 0.82% | 0.96% | 1.23% |
| 49548 | 0.65% | 0.74% | 0.86% | 1.08% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Grand Rapids, Michigan
In Grand Rapids, 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 Grand Rapids, 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. For instance, the highest median tax bill in the area is $3,508 in the 49506 zip code, while the lowest median tax bill is $1,508 in the 49507 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Grand Rapids Assessed Value
$228,400
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 Grand Rapids, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49503 | $113,400 | $148,600 | $198,400 | $265,600 | $362,200 |
| 49504 | $132,600 | $163,000 | $201,400 | $248,200 | $309,200 |
| 49505 | $142,600 | $172,400 | $209,600 | $257,400 | $324,600 |
| 49506 | $177,200 | $234,200 | $303,000 | $461,400 | $678,000 |
| 49507 | $113,200 | $136,600 | $165,400 | $202,800 | $244,200 |
| 49508 | $174,200 | $206,200 | $238,400 | $279,000 | $326,600 |
| 49512 | $161,520 | $230,200 | $266,800 | $316,000 | $390,140 |
| 49525 | $178,580 | $219,000 | $277,400 | $408,950 | $596,200 |
| 49534 | $172,400 | $213,200 | $262,800 | $328,000 | $411,440 |
| 49544 | $151,000 | $199,600 | $240,200 | $297,800 | $392,800 |
| 49546 | $206,600 | $280,200 | $373,800 | $476,600 | $658,800 |
| 49548 | $125,800 | $148,600 | $178,600 | $212,400 | $246,100 |
Source: Ownwell
Property Tax Bills Across Grand Rapids, Michigan
In Grand Rapids, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is typically a percentage of the property's market value. Once the assessed value is established, it is multiplied by the local property tax rate to determine the annual tax bill. For example, in Kent County, the median home price is $228,400, and tax bills can vary significantly. Homeowners in the 25th percentile can expect to pay around $1,555, while those in the 75th percentile might pay up to $3,149, and the 90th percentile sees bills as high as $4,650. Several factors influence these amounts, including property location, home improvements, and local tax levies. The highest median tax bill in the area is $3,508 in zip code 49506, whereas the lowest is $1,508 in zip code 49507. Compared to the national median property tax rate of 0.99%, Grand Rapids homeowners experience a range of tax burdens that can significantly impact their financial planning and homeownership costs.
Average Grand Rapids Tax Bill
$2,201
Average Kent County Tax Bill
$2,321
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Grand Rapids, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49503 | $927 | $1,377 | $2,158 | $3,363 | $4,918 |
| 49504 | $1,115 | $1,496 | $2,062 | $2,808 | $3,762 |
| 49505 | $1,276 | $1,621 | $2,139 | $2,791 | $3,622 |
| 49506 | $1,479 | $2,200 | $3,508 | $6,283 | $10,451 |
| 49507 | $782 | $1,045 | $1,508 | $2,145 | $2,881 |
| 49508 | $1,596 | $1,923 | $2,353 | $2,949 | $3,634 |
| 49512 | $1,463 | $2,247 | $2,894 | $3,643 | $4,382 |
| 49525 | $1,163 | $1,510 | $2,038 | $3,147 | $4,916 |
| 49534 | $1,488 | $1,833 | $2,356 | $3,116 | $4,266 |
| 49544 | $1,315 | $1,590 | $1,934 | $2,648 | $3,689 |
| 49546 | $1,601 | $2,236 | $3,093 | $4,289 | $5,837 |
| 49548 | $997 | $1,238 | $1,547 | $2,007 | $2,541 |
Source: Ownwell