Davisburg, Michigan Property Taxes
The median property tax rate in Davisburg, MI is 1.11%, which is notably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Davisburg at $336,370, the typical annual property tax bill reaches $3,667, surpassing the national median of $2,690. Property taxes in Davisburg are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Davisburg'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 Davisburg 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
Davisburg, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$3,734
Ownwell’s Davisburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Davisburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Davisburg 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 Davisburg, Michigan
Property taxes in Davisburg, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Davisburg is 1.11%, which is higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Davisburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Davisburg 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 Davisburg's effective property tax rate to other areas in Michigan and the national median. For comparison, the 48350 zip code has the highest median property tax rate of 1.11%, while the same zip code also has the lowest median tax rate of 1.11%. Understanding how these figures compare with Davisburg provides valuable insights into the varying tax landscape across Oakland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Davisburg Tax Rate
1.11%
Average Oakland County Tax Rate
1.37%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Davisburg, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48350 | 0.82% | 0.94% | 1.11% | 1.35% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Davisburg, Michigan
In Davisburg, 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 Oakland 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 Davisburg, 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 Davisburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Davisburg are both $3,667, found in zip code 48350.
Average Davisburg Assessed Value
$336,370
Average Oakland County Assessed Value
$273,320
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Davisburg, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48350 | $185,200 | $248,570 | $336,370 | $437,045 | $537,126 |
Source: Ownwell
Property Tax Bills Across Davisburg, Michigan
In Davisburg, located in Oakland County, MI, property tax bills are calculated based on the assessed value of a home, which is typically around 50% of its market value. For a median home price of $336,370, the assessed value would be approximately $168,185. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, the median property tax bill in Davisburg stands at $3,667, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. Homeowners in Davisburg can expect tax bills ranging from the 25th percentile at $2,615 to the 90th percentile at $6,603. These taxes fund essential community services such as schools, public safety, and infrastructure. Understanding how these elements interact helps homeowners anticipate their financial obligations and plan accordingly.
Average Davisburg Tax Bill
$3,667
Average Oakland County Tax Bill
$3,833
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Davisburg, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48350 | $1,919 | $2,615 | $3,667 | $5,114 | $6,603 |
Source: Ownwell