Jasper, Michigan Property Taxes
The median property tax rate in Jasper, MI is 0.99%, aligning with the national median of 0.99% but slightly lower than the Michigan state median of 1.07%. With a median home value of $144,400 in Jasper, the typical annual property tax bill amounts to $1,410, which is below the national median of $2,690. Property taxes in Jasper are determined based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Navigating Jasper's property tax system, leveraging available exemptions, and identifying potential reductions can lead to substantial yearly savings. Whether you reside in Jasper or another part of Lenawee County, gaining a thorough understanding of the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Jasper, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,430
$1,327
Ownwell’s Jasper Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jasper with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jasper 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 Jasper, Michigan
Property taxes in Jasper, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jasper is 0.99%, aligning with both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Jasper set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jasper 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 Jasper's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49248 zip code has both the highest and lowest median property tax rate of 0.99%. Understanding how these cities compare with Jasper 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 Jasper Tax Rate
0.99%
Average Lenawee County Tax Rate
1.14%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jasper, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49248 | 0.56% | 0.76% | 0.99% | 1.20% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Jasper, Michigan
In Jasper, 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 Jasper, 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 Jasper helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 49248, both being $1410.
Average Jasper Assessed Value
$144,400
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 Jasper, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49248 | $75,540 | $99,700 | $144,400 | $213,400 | $407,180 |
Source: Ownwell
Property Tax Bills Across Jasper, Michigan
In Jasper, located in Lenawee County, MI, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, the median home price in Jasper is around $144,400. Homeowners in the 25th percentile can expect a tax bill of approximately $1,040, while those in the 75th percentile might see a bill closer to $2,133. At the 90th percentile, property tax bills can reach up to $3,312. These taxes fund essential public services such as schools, roads, and emergency services, directly impacting the quality of life in the community. Compared to the national median property tax rate of 0.99%, Jasper's property taxes reflect the local government's efforts to balance revenue needs with homeowners' financial responsibilities. Understanding these factors helps homeowners anticipate their tax obligations and plan their finances accordingly.
Average Jasper Tax Bill
$1,410
Average Lenawee County Tax Bill
$2,184
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Jasper, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49248 | $795 | $1,040 | $1,410 | $2,133 | $3,312 |
Source: Ownwell