Kent City, Michigan Property Taxes
The median property tax rate in Kent City, MI is 0.73%, which is lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Kent City at $226,900, the typical annual property tax bill amounts to $1,681, falling below the national median of $2,690. Property taxes in Kent City are calculated based on the tax assessed value, which often is less than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Kent City's property tax system, exploring available exemptions, and identifying potential reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Kent City or another part of the city, gaining insight into the local property tax system is beneficial for all property owners.
Last Updated June 14, 2024
Kent City, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$1,656
$1,537
Ownwell’s Kent City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kent City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kent City 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 Kent City, Michigan
Property taxes in Kent City, MI, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kent City is 0.73%, which is lower than the U.S. national median of 0.99%. Local government entities within Kent City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kent City 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 Kent City's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49330 zip code has both the highest and lowest median property tax rate of 0.73%. Understanding how these cities compare with Kent City 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 Kent City Tax Rate
0.73%
Average Kent County Tax Rate
0.89%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kent City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49330 | 0.61% | 0.67% | 0.73% | 0.87% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Kent City, Michigan
In Kent City, 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 Kent City, 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 Kent City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Kent City is $226,900, with the highest median tax bill recorded at $1,681 in zip code 49330.
Average Kent City Assessed Value
$226,900
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 Kent City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49330 | $119,720 | $163,800 | $226,900 | $287,800 | $366,080 |
Source: Ownwell
Property Tax Bills Across Kent City, Michigan
In Kent City, 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 is typically a percentage of the property's market value. For example, with a median home price of $226,900, the tax bill can vary significantly. At the 25th percentile, homeowners might pay around $1,200, whereas those in the 75th percentile could see bills as high as $2,271. The 90th percentile tax bill can reach up to $2,953. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Kent City's rates can be quite variable, reflecting the diverse range of property values within the area. These tax bills directly impact homeowners' annual budgets, making it crucial for them to understand how their property is assessed and what exemptions they might qualify for to reduce their financial burden.
Average Kent City Tax Bill
$1,681
Average Kent County Tax Bill
$2,321
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Kent City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49330 | $871 | $1,200 | $1,681 | $2,271 | $2,953 |
Source: Ownwell