Stanwood, Michigan Property Taxes
The median property tax rate in Stanwood, MI is 0.29%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Stanwood at $168,100, the typical annual property tax bill is $463, well below the national median of $2,690. Property taxes in Stanwood 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 Stanwood'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 Stanwood 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
Stanwood, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.29%
Estimate Property Tax Bill
$487
Ownwell’s Stanwood Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Stanwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stanwood 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 Stanwood, Michigan
Property taxes in Stanwood, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stanwood is 1.48%, which is notably higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Stanwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stanwood 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 Stanwood's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49454 has the highest median property tax rate of 2.21%, while zip code 49412 has the lowest median tax rate of 1.01%. Understanding how these cities compare with Stanwood provides valuable insights into the varying tax landscape across Newaygo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stanwood Tax Rate
0.29%
Average Newaygo County Tax Rate
0.43%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stanwood, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49346 | 0.22% | 0.24% | 0.29% | 0.33% | 0.36% |
Source: Ownwell
Property Tax Assessment Values Across Stanwood, Michigan
In Stanwood, 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 Newaygo 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 Stanwood, 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 Stanwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Stanwood is $168,100, with the highest median tax bill being $463 in zip code 49346.
Average Stanwood Assessed Value
$168,100
Average Newaygo County Assessed Value
$143,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stanwood, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49346 | $66,400 | $100,300 | $168,100 | $214,050 | $241,140 |
Source: Ownwell
Property Tax Bills Across Stanwood, Michigan
In Stanwood, located in Newaygo County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. For instance, with a median home price of $168,100, the assessed value is used to determine the tax bill. Various factors such as the local tax rate, property improvements, and exemptions influence the final bill. Homeowners in Stanwood can expect their annual property tax bills to vary significantly. For example, the 25th percentile tax bill is $324, while the 75th percentile tax bill is $569, and the 90th percentile tax bill climbs to $693. These figures show how property taxes can impact homeowners differently, depending on the assessed value and applicable exemptions. Compared to the national median property tax rate of 0.99%, Stanwood's property tax rates offer a relatively moderate financial burden for homeowners, making it an attractive location for those looking to manage their annual expenses effectively.
Average Stanwood Tax Bill
$463
Average Newaygo County Tax Bill
$667
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Stanwood, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49346 | $190 | $324 | $463 | $569 | $693 |
Source: Ownwell