Hadley, Michigan Property Taxes
The median property tax rate in Hadley, MI is 0.32%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Hadley, the typical annual property tax bill reaches $633, well below the national median of $2,690. Property taxes in Hadley 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 Hadley'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 Hadley 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
Hadley, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.32%
Estimate Property Tax Bill
$596
Ownwell’s Hadley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hadley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hadley 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 Hadley, Michigan
Property taxes in Hadley, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hadley is 0.32%, significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Hadley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hadley 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 Hadley's effective property tax rate to other regions in Michigan and the national median. For comparison, the highest median property tax rate in Michigan is found in ZIP code 48306 at 1.78%, while the lowest median tax rate is in ZIP code 48428 at 0.23%. Understanding how these cities compare with Hadley provides valuable insights into the varying tax landscape across Lapeer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hadley Tax Rate
0.32%
Average Lapeer County Tax Rate
0.37%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hadley, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48440 | 0.27% | 0.29% | 0.32% | 0.35% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Hadley, Michigan
In Hadley, 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 Lapeer 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 Hadley, 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 Hadley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Hadley is $186,400, with the highest median tax bill being $633.00 in zip code 48440.
Average Hadley Assessed Value
$186,400
Average Lapeer County Assessed Value
$215,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hadley, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48440 | $136,900 | $151,250 | $186,400 | $270,300 | $380,800 |
Source: Ownwell
Property Tax Bills Across Hadley, Michigan
In Hadley, located in Lapeer County, MI, property tax bills are calculated based on the assessed value of a home, which typically reflects a percentage of its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax amount, including the home's location, size, and any applicable exemptions or deductions. For homeowners in Hadley, the median home price is $186,400. Property tax bills in this area can vary significantly. At the 25th percentile, the tax bill is $485, while at the 75th percentile, it rises to $904. At the 90th percentile, homeowners might see a tax bill as high as $1,170. This range highlights how property taxes can impact household budgets differently, depending on the assessed value and specific circumstances of each property. Compared to the national median property tax rate of 0.99%, Hadley's property tax rates can offer some relief to homeowners, but it's crucial for residents to understand how these taxes are calculated and budget accordingly.
Average Hadley Tax Bill
$633
Average Lapeer County Tax Bill
$858
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Hadley, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48440 | $406 | $485 | $633 | $904 | $1,170 |
Source: Ownwell