Whitmore Lake, Michigan Property Taxes
The median property tax rate in Whitmore Lake, MI is 1.05%, slightly higher than the national median of 0.99% but just below the Michigan state median of 1.07%. With a median home value of $299,860 in Whitmore Lake, the typical annual property tax bill reaches $3,235, surpassing the national median of $2,690. Property taxes in Whitmore Lake are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Whitmore Lake'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 Whitmore Lake or another part of Livingston County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Whitmore Lake, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$3,149
$2,922
Ownwell’s Whitmore Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Whitmore Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Whitmore Lake 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 Whitmore Lake, Michigan
Property taxes in Whitmore Lake, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Whitmore Lake is 1.05%, which is higher than the U.S. national median of 0.99%. Local government entities within Whitmore Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Whitmore Lake 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 Whitmore Lake's effective property tax rate to the national median. For comparison, the zip code 48189 has the highest median property tax rate of 1.05%, while the same zip code also has the lowest median tax rate of 1.05%. Understanding how Whitmore Lake compares with other areas 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 Whitmore Lake Tax Rate
1.05%
Average Livingston County Tax Rate
0.91%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Whitmore Lake, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48189 | 0.79% | 0.91% | 1.05% | 1.24% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Whitmore Lake, Michigan
In Whitmore Lake, 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 Whitmore Lake, 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 Whitmore Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $3,235 in the 48189 zip code, which is also the lowest median tax bill, illustrating a consistent tax environment.
Property Tax Assessment Values Across Whitmore Lake, Michigan
Source: Ownwell
$181,400
$364,610
$547,820
Average Whitmore Lake Assessed Value
$299,860
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 Whitmore Lake, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48189 | $66,152 | $201,320 | $299,860 | $400,940 | $573,568 |
Source: Ownwell
Property Tax Bills Across Whitmore Lake, Michigan
In Whitmore Lake, 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 here is $299,860. Property taxes are influenced by several factors, including the local tax rate and the specific assessments conducted by the county. For instance, the 25th percentile tax bill is around $2,371, while the 75th percentile tax bill reaches $4,570. Higher-value properties can see tax bills as high as $6,613 at the 90th percentile. Whitmore Lake's property tax rate is relatively competitive when compared to the national median property tax rate of 0.99%. Homeowners in this area can expect their financial obligations to vary significantly depending on the assessed value of their property and the local tax rate. This variability underscores the importance of understanding your property's assessed value and the local tax landscape to better manage your annual property tax expenses.
Average Whitmore Lake Tax Bill
$3,235
Average Livingston County Tax Bill
$2,949
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Whitmore Lake, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48189 | $1,662 | $2,371 | $3,235 | $4,570 | $6,613 |
Source: Ownwell