Stockbridge, Livingston County, Michigan Property Taxes
The median property tax rate in Stockbridge, MI is 0.86%, 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 Stockbridge at $281,300, the typical annual property tax bill amounts to $2,406, falling below the national median of $2,690. Property taxes in Stockbridge are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Stockbridge'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 Stockbridge 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
Stockbridge, Livingston County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$2,419
$2,245
Ownwell’s Stockbridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stockbridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stockbridge 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 Stockbridge, Livingston County, Michigan
Property taxes in Stockbridge, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stockbridge is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Stockbridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stockbridge 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 Stockbridge's effective property tax rate to other regions and the national median. For comparison, the 49285 zip code has both the highest and lowest median property tax rate of 0.86%. Understanding how these areas compare with Stockbridge 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 Stockbridge Tax Rate
0.86%
Average Livingston County Tax Rate
0.91%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stockbridge, Livingston County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49285 | 0.71% | 0.76% | 0.86% | 0.95% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Stockbridge, Livingston County, Michigan
In Stockbridge, 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 Stockbridge, 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. The median home price in Stockbridge is $281,300, with annual tax bills ranging from $1,876 at the 25th percentile to $3,876 at the 90th percentile. The zip code 49285 has both the highest and lowest median tax bill at $2,406. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Stockbridge, Livingston County, Michigan
Source: Ownwell
$181,400
$324,900
$468,400
Average Stockbridge Assessed Value
$281,300
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 Stockbridge, Livingston County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49285 | $187,260 | $225,500 | $281,300 | $345,625 | $425,820 |
Source: Ownwell
Property Tax Bills Across Stockbridge, Livingston County, Michigan
In Stockbridge, 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 local tax rate is then applied to this assessed value to determine the annual property tax bill. For instance, with a median home price of $281,300, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill is around $1,876, while the 75th percentile tax bill reaches $3,213. At the higher end, the 90th percentile tax bill can be as much as $3,876. Several factors influence these tax bills, including property size, location, and any applicable exemptions. Comparatively, the national median property tax rate is 0.99%, which helps put these figures in perspective for Stockbridge residents. Understanding these costs is crucial for homeowners as they directly impact annual budgets and long-term financial planning. The highest and lowest median tax bills in this area are both $2,406, specifically in the zip code 49285.
Average Stockbridge Tax Bill
$2,406
Average Livingston County Tax Bill
$2,949
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Stockbridge, Livingston County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49285 | $1,443 | $1,876 | $2,406 | $3,213 | $3,876 |
Source: Ownwell