Grant, Kent County, Michigan Property Taxes
The median property tax rate in Grant, MI is 0.71%, which is considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Grant, the typical annual property tax bill reaches $1,616, well below the national median of $2,690. Property taxes in Grant 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 Grant'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 Grant 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
Grant, Kent County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$1,707
$1,584
Ownwell’s Grant Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grant with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grant 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 Grant, Kent County, Michigan
Property taxes in Grant, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grant is 0.71%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Grant set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grant 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 Grant's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49327 has both the highest and lowest median property tax rate of 0.71%. Understanding how these areas compare with Grant 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 Grant Tax Rate
0.71%
Average Kent County Tax Rate
0.89%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grant, Kent County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49327 | 0.65% | 0.66% | 0.71% | 0.74% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Grant, Kent County, Michigan
In Grant, 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 Grant, 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 Grant helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Grant are both $1,616, with the zip code 49327.
Property Tax Assessment Values Across Grant, Kent County, Michigan
Source: Ownwell
$165,400
$316,600
$467,800
Average Grant Assessed Value
$240,400
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 Grant, Kent County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49327 | $133,900 | $211,550 | $240,400 | $295,300 | $324,300 |
Source: Ownwell
Property Tax Bills Across Grant, Kent County, Michigan
In Grant, located in Kent County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value typically represents 50% of the market value. For instance, with a median home price of $240,400, the assessed value would be around $120,200. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. For example, the tax bill at the 25th percentile in Grant is $1,474, while at the 75th percentile, it reaches $1,990, and at the 90th percentile, it goes up to $2,689. These variations reflect differences in property values and potential exemptions. For homeowners, understanding these calculations is crucial, as property taxes significantly impact annual expenses. Compared to the national median property tax rate of 0.99%, the rates in Grant can offer a comparative perspective on how local assessments and rates affect overall tax obligations.
Average Grant Tax Bill
$1,616
Average Kent County Tax Bill
$2,321
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Grant, Kent County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49327 | $1,385 | $1,474 | $1,616 | $1,990 | $2,689 |
Source: Ownwell