Deerfield, Michigan Property Taxes
The median property tax rate in Deerfield, MI is 1.12%, which is notably higher than both the national median of 0.99% and Michigan's state median of 1.07%. With a median home value of $145,600 in Deerfield, the typical annual property tax bill amounts to $1,660, surpassing the national median of $2,690. Property taxes in Deerfield are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Deerfield'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 Deerfield 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
Deerfield, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$1,631
Ownwell’s Deerfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Deerfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Deerfield 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 Deerfield, Michigan
Property taxes in Deerfield, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Deerfield is 1.12%, which is higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Deerfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Deerfield 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 Deerfield's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49238 zip code has both the highest and the lowest median property tax rate of 1.12%. Understanding how these cities compare with Deerfield provides valuable insights into the varying tax landscape across Lenawee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Deerfield Tax Rate
1.12%
Average Lenawee County Tax Rate
1.14%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Deerfield, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49238 | 0.78% | 0.96% | 1.12% | 1.25% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Deerfield, Michigan
In Deerfield, 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 Lenawee 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 Deerfield, 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 Deerfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Deerfield are both $1,660, found in the 49238 zip code.
Average Deerfield Assessed Value
$145,600
Average Lenawee County Assessed Value
$168,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Deerfield, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49238 | $73,080 | $101,200 | $145,600 | $212,200 | $314,840 |
Source: Ownwell
Property Tax Bills Across Deerfield, Michigan
In Deerfield, Lenawee County, MI, 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 a percentage of the market value of the property. Homeowners in Deerfield can expect their property tax bills to vary significantly depending on several factors, including the assessed value of their property and the specific tax rates set by local taxing authorities. For example, the median home price in Deerfield is $145,600. Property tax bills can range widely, with the 25th percentile bill at $1,233 and the 75th percentile bill reaching $2,237. At the higher end, the 90th percentile tax bill is $3,168. These figures indicate that while some homeowners may pay relatively modest amounts, others could face significantly higher tax bills, affecting their annual financial planning. Compared to the national median property tax rate of 0.99%, Deerfield's property tax rates can lead to varying financial impacts for homeowners, making it essential for them to understand how their tax bills are calculated and what factors influence them.
Average Deerfield Tax Bill
$1,660
Average Lenawee County Tax Bill
$2,184
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Deerfield, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49238 | $885 | $1,233 | $1,660 | $2,237 | $3,168 |
Source: Ownwell