Perry, Livingston County, Michigan Property Taxes
The median property tax rate in Perry, MI is 0.85%, 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 Perry at $255,200, the typical annual property tax bill is $2,208, slightly below the national median of $2,690. Property taxes in Perry are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Perry'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 Perry 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
Perry, Livingston County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$2,169
$2,013
Ownwell’s Perry Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Perry with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Perry 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 Perry, Livingston County, Michigan
Property taxes in Perry, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Perry is 0.85%, which is below the U.S. national median of 0.99%. Local government entities within Perry set these rates annually, and they can vary significantly across different neighborhoods. Each year, Perry 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 Perry's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 48872 has the highest median property tax rate of 0.85%, while the same zip code also has the lowest median tax rate of 0.85%. Understanding how these cities compare with Perry 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 Perry Tax Rate
0.85%
Average Livingston County Tax Rate
0.91%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Perry, Livingston County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48872 | 0.74% | 0.78% | 0.85% | 0.97% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Perry, Livingston County, Michigan
In Perry, 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 Perry, 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. Perry's median home price is $255,200, with tax bills ranging from $1,594 at the 25th percentile to $3,230 at the 90th percentile. The zip code 48872 has both the highest and lowest median tax bill at $2,208. 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 Perry helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Perry, Livingston County, Michigan
Source: Ownwell
$181,400
$324,900
$468,400
Average Perry Assessed Value
$255,200
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 Perry, Livingston County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48872 | $152,368 | $195,940 | $255,200 | $307,160 | $357,988 |
Source: Ownwell
Property Tax Bills Across Perry, Livingston County, Michigan
In Perry, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $255,200 in Perry, homeowners can expect varying tax bills depending on their property's assessed value and the local tax rate. Factors such as the property's location within Livingston County and any applicable exemptions can influence the final tax amount. Homeowners in Perry might see tax bills ranging from $1,594 at the 25th percentile to $3,230 at the 90th percentile. The highest median tax bill in the area is $2,208, which coincides with the lowest median tax bill, both found in zip code 48872. Understanding these factors is crucial for homeowners as property taxes can significantly impact their annual expenses. The local tax rate in Perry is slightly above the national median property tax rate of 0.99%, making it essential for residents to stay informed about their tax obligations.
Average Perry Tax Bill
$2,208
Average Livingston County Tax Bill
$2,949
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Perry, Livingston County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48872 | $1,074 | $1,594 | $2,208 | $2,736 | $3,230 |
Source: Ownwell