Pleasant Ridge, Michigan Property Taxes
The median property tax rate in Pleasant Ridge, MI is 1.59%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Pleasant Ridge, the typical annual property tax bill reaches $6,531, significantly exceeding the national median of $2,690. Property taxes in Pleasant Ridge are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Pleasant Ridge'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 Pleasant Ridge 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
Pleasant Ridge, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.59%
Estimate Property Tax Bill
$6,177
$5,732
Ownwell’s Pleasant Ridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pleasant Ridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pleasant Ridge 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 Pleasant Ridge, Michigan
Property taxes in Pleasant Ridge, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pleasant Ridge is 1.59%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Pleasant Ridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pleasant Ridge 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 Pleasant Ridge's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48069 zip code has the highest median property tax rate of 1.59%, while the same zip code also holds the lowest median tax rate of 1.59%. Understanding how these cities compare with Pleasant Ridge 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 Pleasant Ridge Tax Rate
1.59%
Average Oakland County Tax Rate
1.37%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pleasant Ridge, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48069 | 1.20% | 1.31% | 1.59% | 1.99% | 2.18% |
Source: Ownwell
Property Tax Assessment Values Across Pleasant Ridge, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pleasant Ridge, Michigan. 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 Pleasant Ridge, 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. For instance, the median home price in Pleasant Ridge is $388,490, with tax bills ranging from $4,759 at the 25th percentile to $12,097 at the 90th percentile. The highest and lowest median tax bill is the same, at $6,531, in zip code 48069. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Pleasant Ridge, Michigan
Source: Ownwell
$64,640
$936,355
$1,808,070
Average Pleasant Ridge Assessed Value
$388,490
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 Pleasant Ridge, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48069 | $260,374 | $317,195 | $388,490 | $523,280 | $711,040 |
Source: Ownwell
Property Tax Bills Across Pleasant Ridge, Michigan
In Pleasant Ridge, located in Oakland County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the market value of the property. Homeowners in Pleasant Ridge can expect a median property tax bill of around $6,531, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's location, size, and any improvements made. For instance, the tax bill for the 25th percentile is about $4,759, while it climbs to $9,088 at the 75th percentile, and reaches $12,097 at the 90th percentile. This variation reflects differences in property values and assessments within the community. Higher property taxes can impact homeowners by increasing the overall cost of owning a home. However, these taxes also contribute to local services such as schools, public safety, and infrastructure, which can enhance the quality of life in Pleasant Ridge.
Average Pleasant Ridge Tax Bill
$6,531
Average Oakland County Tax Bill
$3,833
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Pleasant Ridge, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48069 | $3,690 | $4,759 | $6,531 | $9,088 | $12,097 |
Source: Ownwell