Grant, Michigan Property Taxes
The median property tax rate in Grant, MI is 0.44%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Grant at $294,500, the typical annual property tax bill amounts to $1,000, well below the national median of $2,690. Property taxes in Grant are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Grant'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 Grant 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
Grant, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$1,296
Ownwell’s Grant Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grant with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grant 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 Grant, Michigan
Property taxes in Grant, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grant is 0.44%, which is significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Grant set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grant 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 Grant's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49327 has both the highest and lowest median property tax rate of 0.44%. Understanding how these cities compare with Grant provides valuable insights into the varying tax landscape across Muskegon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grant Tax Rate
0.44%
Average Muskegon County Tax Rate
0.47%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grant, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49327 | 0.33% | 0.34% | 0.44% | 0.52% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Grant, Michigan
In Grant, 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 Muskegon 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 Grant, 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. The median home price in Grant is $294,500, with property tax bills ranging from $859 at the 25th percentile to $1,623 at the 90th percentile. 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 Grant helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Grant Assessed Value
$294,500
Average Muskegon County Assessed Value
$163,000
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grant, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49327 | $65,920 | $223,600 | $294,500 | $326,050 | $352,600 |
Source: Ownwell
Property Tax Bills Across Grant, Michigan
In Grant, located in Muskegon County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The local tax rate is applied to this assessed value to determine the annual tax bill. Various factors influence the tax bill, including property size, location, and any applicable exemptions or abatements. For example, the median home price in Grant is $294,500. Homeowners in the 25th percentile of tax bills pay around $859 annually, while those in the 75th percentile pay approximately $1,403. At the 90th percentile, the tax bill can reach up to $1,623. These figures show how property taxes can vary significantly based on home value and other factors. Compared to the national median property tax rate of 0.99%, Grant's property tax rates can be relatively moderate or high, depending on individual circumstances. Understanding these variables helps homeowners budget effectively and anticipate their annual financial obligations.
Average Grant Tax Bill
$1,000
Average Muskegon County Tax Bill
$841
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Grant, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49327 | $324 | $859 | $1,000 | $1,403 | $1,623 |
Source: Ownwell