Dexter, Michigan Property Taxes
The median property tax rate in Dexter, MI is 1.17%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Dexter at $547,820, the typical annual property tax bill reaches $6,412, exceeding the national median of $2,690. Property taxes in Dexter 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 Dexter'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 Dexter 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
Dexter, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$6,409
Ownwell’s Dexter Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dexter with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dexter 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 Dexter, Michigan
Property taxes in Dexter, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dexter is 1.17%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Dexter set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dexter 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 Dexter's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48130 zip code has the highest median property tax rate of 1.17%, while the same zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with Dexter provides valuable insights into the varying tax landscape across Livingston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dexter Tax Rate
1.17%
Average Livingston County Tax Rate
0.91%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dexter, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48130 | 0.52% | 0.76% | 1.17% | 1.28% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Dexter, Michigan
In Dexter, 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 Livingston 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 Dexter, 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. The median home price in Dexter is $547,820, with tax bills ranging from $3,311 at the 25th percentile to $8,108 at the 90th percentile. The highest and lowest median tax bills are both found in the 48130 zip code, standing at $6,412. 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 Dexter helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dexter Assessed Value
$547,820
Average Livingston County Assessed Value
$315,781
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dexter, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48130 | $156,364 | $303,160 | $547,820 | $580,700 | $600,428 |
Source: Ownwell
Property Tax Bills Across Dexter, Michigan
In Dexter, located in Livingston County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Dexter is $547,820, and the property tax rate is applied to this assessed value to determine the tax bill. Homeowners in Dexter can expect their tax bills to vary, with the 25th percentile at $3,311 and the 75th percentile reaching $7,472. The 90th percentile tax bill can go as high as $8,108. Several factors influence the property tax bill, including the assessed value of the property, local tax rates, and any applicable exemptions. This assessment process ensures that homeowners contribute fairly to community services such as schools, public safety, and infrastructure. Despite the variability, Dexter’s property tax bills can be compared to the national median property tax rate of 0.99%, giving homeowners a benchmark for understanding their local tax obligations.
Average Dexter Tax Bill
$6,412
Average Livingston County Tax Bill
$2,949
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Dexter, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48130 | $1,450 | $3,311 | $6,412 | $7,472 | $8,108 |
Source: Ownwell