Greenville, Michigan Property Taxes
The median property tax rate in Greenville, MI is 0.34%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $258,400 in Greenville, the typical annual property tax bill amounts to $877, which is well below the national median of $2,690. Property taxes in Greenville are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Greenville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Greenville or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Greenville, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$879
$815
Ownwell’s Greenville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenville 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 Greenville, Michigan
Property taxes in Greenville, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenville is 1.54%, significantly higher than both the Michigan state median of 1.31% and the U.S. national median of 0.99%. Local government entities within Greenville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenville 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 Greenville's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in Michigan is found in Washtenaw County at 2.09%, while the lowest median tax rate is in Luce County at 0.83%. Understanding how these cities compare with Greenville provides valuable insights into the varying tax landscape across Montcalm County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greenville Tax Rate
0.34%
Average Kent County Tax Rate
0.89%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greenville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48838 | 0.27% | 0.30% | 0.34% | 0.39% | 0.45% |
Source: Ownwell
Property Tax Assessment Values Across Greenville, Michigan
In Greenville, 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 Greenville, 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 Greenville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Greenville is $258,400, with the median tax bill ranging from $571 at the 25th percentile to $1,646 at the 90th percentile. The highest and lowest median tax bills are both $877 in the 48838 zip code.
Average Greenville Assessed Value
$258,400
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 Greenville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48838 | $124,760 | $178,400 | $258,400 | $343,600 | $435,200 |
Source: Ownwell
Property Tax Bills Across Greenville, Michigan
In Greenville, MI, property tax bills are a significant consideration for homeowners. The tax bill is determined by multiplying the assessed value of the property by the local tax rate. For instance, with a median home price of $258,400, the tax bill can vary widely. Factors influencing the tax bill include the property's assessed value, which is often a percentage of its market value, and the local tax rate set by the county. In Kent County, where Greenville is located, the median property tax bill is $877. Homeowners in the 25th percentile can expect to pay around $571, while those in the 75th percentile might see bills as high as $1,237. At the 90th percentile, tax bills can reach $1,646. These figures highlight the variability in property tax bills, which can significantly impact household budgets. Compared to the national median property tax rate of 0.99%, Greenville's property tax rates offer a range of financial responsibilities for homeowners, depending on their property's assessed value and specific location within the city.
Average Greenville Tax Bill
$877
Average Kent County Tax Bill
$2,321
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48838 | $380 | $571 | $877 | $1,237 | $1,646 |
Source: Ownwell