Richmond, Macomb County, Michigan Property Taxes
Median Richmond, MI effective property tax rate: 1.26%, significantly higher than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Richmond, MI home value: $241,000
Median annual Richmond, MI tax bill: $2,785, $385 higher than the national median property tax bill of $2,400.
How are property taxes in Macomb calculated?
Property taxes in Richmond, MI are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Richmond’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Richmond, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Richmond, Macomb County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.26%
Estimate Property Tax Bill
$3,037
$2,818
Property Tax Rates Across Richmond, Macomb County, Michigan
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Richmond Tax Rate
1.26%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Macomb County Tax Rate
1.19%
Median Effective Michigan Tax Rate
1.07%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Richmond, Macomb County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48062 | 0.63% | 0.80% | 1.26% | 1.61% | 1.94% |
Source: Ownwell
Property Tax Assessment Values Across Richmond, Macomb County, Michigan
When examining property taxes in Richmond, MI, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Macomb County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices: In Macomb County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Richmond.
For example, the median home price in Richmond is $241,000, with tax bills ranging significantly across the county. 48062 has the highest median home price at $241,000.
Property Tax Assessment Values Across Richmond, Macomb County, Michigan
Source: Ownwell
$78,140
$314,270
$550,400
Median Richmond Market Value
$241,000
Median Macomb County Market Value
$209,990
Median Michigan Market Value
$177,800
Median United States Market Value
$235,294
Property Tax Assessment Values Across Richmond, Macomb County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48062 | $139,200 | $183,600 | $241,000 | $321,300 | $432,520 |
Source: Ownwell
Property Tax Bills Across Richmond, Macomb County, Michigan
In Richmond, Macomb County, MI, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Richmond is $241,000, with tax bills ranging from the 25th percentile at $2,113 to the 90th percentile at $4,967. The median property tax bill in this area is $2,785, which is slightly above the national median of $2,400. Property taxes are influenced by various factors, including the local tax rate and the assessed value of the property. Homeowners in Richmond may find their tax bills higher than the national average, impacting their overall financial planning.
Ownwell can assist homeowners in Richmond by identifying opportunities for tax appeals and exemptions, potentially reducing their tax burden. By analyzing property assessments and comparing them with local market trends, Ownwell helps ensure homeowners are not overpaying on their property taxes. This service can lead to significant savings, providing financial relief and peace of mind for homeowners.
Median Richmond Tax Bill
$2,785
Median Macomb County Tax Bill
$2,603
Median Michigan Tax Bill
$1,795
Median United States Tax Bill
$2,400
Property Tax Bills Across Richmond, Macomb County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48062 | $1,475 | $2,113 | $2,785 | $3,880 | $4,967 |
Source: Ownwell