Greenland, Michigan Property Taxes
The median property tax rate in Greenland, MI is 0.48%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $51,150 in Greenland, the typical annual property tax bill amounts to $238, well below the national median of $2,690. Property taxes in Greenland are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. By understanding Greenland's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Greenland or another part of the city, gaining insights into the local property tax system will be beneficial.
Last Updated June 14, 2024
Greenland, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$246
Ownwell’s Greenland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenland 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 Greenland, Michigan
Property taxes in Greenland, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenland is 0.48%, which is significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Greenland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenland 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 Greenland's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49929 has both the highest and lowest median property tax rate of 0.48%, indicating a uniform rate across the area. Understanding how these cities compare with Greenland provides valuable insights into the varying tax landscape across Ontonagon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greenland Tax Rate
0.48%
Average Ontonagon County Tax Rate
0.86%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greenland, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49929 | 0.32% | 0.44% | 0.48% | 0.56% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Greenland, Michigan
In Greenland, 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 Ontonagon 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 Greenland, 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 Greenland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $238 in the 49929 zip code, while the lowest is also $238 in the same zip code, reflecting a uniform tax experience in the region.
Average Greenland Assessed Value
$51,150
Average Ontonagon County Assessed Value
$68,300
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Greenland, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49929 | $10,160 | $31,025 | $51,150 | $68,775 | $99,120 |
Source: Ownwell
Property Tax Bills Across Greenland, Michigan
In Greenland, located in Ontonagon County, MI, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Greenland is $51,150. The property tax rate in this region is influenced by the county's budgetary needs and the services provided to residents. Homeowners in Greenland can expect a range of tax bills, with the 25th percentile at $136 and the 75th percentile at $351. The 90th percentile tax bill reaches up to $465. Compared to the national median property tax rate of 0.99%, Greenland's property taxes are relatively modest, reflecting the lower median home values in the area. This affects homeowners by providing a more affordable living situation, especially when considering property taxes. However, the specific amount each homeowner pays can vary significantly depending on the assessed value of their property and the local tax rate, which can fluctuate based on municipal and county financial requirements.
Average Greenland Tax Bill
$238
Average Ontonagon County Tax Bill
$577
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenland, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49929 | $56 | $136 | $238 | $351 | $465 |
Source: Ownwell