Washington, Michigan Property Taxes
The median property tax rate in Washington, MI is 0.79%, notably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Washington at $364,200, the typical annual property tax bill reaches $3,087, surpassing the national median of $2,690. Property taxes in Washington are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Washington'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 Washington 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
Washington, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$2,877
Ownwell’s Washington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Washington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Washington 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 Washington, Michigan
Property taxes in Washington, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Washington is 0.79%, lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Washington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Washington 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 Washington's effective property tax rate to other areas in Michigan and the national median. For comparison, the 48095 zip code has both the highest and lowest median property tax rate of 0.82%. Understanding how these areas compare with Washington provides valuable insights into the varying tax landscape across Macomb County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Washington Tax Rate
0.79%
Average Macomb County Tax Rate
1.19%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Washington, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48094 | N/A | N/A | N/A | N/A | N/A |
| 48095 | 0.66% | 0.73% | 0.82% | 0.95% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Washington, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Washington, Michigan. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the local 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 Washington, 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 Washington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 48095 has both the highest and lowest median tax bill at $3,401, highlighting the importance of staying informed about local property tax trends.
Average Washington Assessed Value
$364,200
Average Macomb County Assessed Value
$209,990
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Washington, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48094 | N/A | N/A | N/A | N/A | N/A |
| 48095 | $219,560 | $292,100 | $400,000 | $556,500 | $714,480 |
Source: Ownwell
Property Tax Bills Across Washington, Michigan
In Washington, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, with a median home price of $364,200, the assessed value is determined by local assessors who consider factors such as the home's size, age, location, and condition. Once the assessed value is established, the tax rate is applied to this value to calculate the property tax bill. In Washington, property tax bills can vary significantly. Homeowners in the 25th percentile pay around $2,222, while those in the 75th percentile see bills closer to $4,584, and the 90th percentile reaches up to $5,948. These taxes fund essential public services like schools, roads, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Washington's property taxes align with broader trends, ensuring homeowners contribute fairly to local infrastructure and services.
Average Washington Tax Bill
$3,087
Average Macomb County Tax Bill
$2,603
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Washington, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48094 | N/A | N/A | N/A | N/A | N/A |
| 48095 | $1,711 | $2,306 | $3,401 | $4,905 | $6,516 |
Source: Ownwell