Grand Rapids, Michigan Property Taxes
The median property tax rate in Grand Rapids, MI is 0.78%, which is lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Grand Rapids at $299,100, the typical annual property tax bill amounts to $2,108, which is below the national median of $2,690. Property taxes in Grand Rapids are determined based on the tax assessed value, which is often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Gaining a thorough understanding of Grand Rapids' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Grand Rapids 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
Grand Rapids, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$2,333
$2,165
Ownwell’s Grand Rapids Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grand Rapids with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grand Rapids 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 Grand Rapids, Michigan
Property taxes in Grand Rapids, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grand Rapids is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Grand Rapids set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grand Rapids 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 Grand Rapids' effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49534 has the highest median property tax rate of 0.78%, while zip code 49504 has the lowest median tax rate of 0.60%. Understanding how these cities compare with Grand Rapids provides valuable insights into the varying tax landscape across Ottawa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grand Rapids Tax Rate
0.78%
Average Ottawa County Tax Rate
0.90%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grand Rapids, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49504 | 0.31% | 0.34% | 0.60% | 0.92% | 1.08% |
| 49507 | 0.72% | 0.72% | 0.72% | 0.72% | 0.72% |
| 49534 | 0.36% | 0.56% | 0.78% | 0.93% | 1.13% |
| 49544 | 0.27% | 0.30% | 0.63% | 0.72% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Grand Rapids, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Grand Rapids, Michigan. The market value represents the price a willing buyer would pay a willing seller in an open market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Ottawa 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. Assessment notices in Grand Rapids 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. In Grand Rapids, the highest median tax bill is $2,948 in the 49507 zip code, while the lowest is $1,685 in the 49504 zip code. By being aware of these valuation processes and tax bill variations, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Grand Rapids Assessed Value
$299,100
Average Ottawa County Assessed Value
$276,000
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grand Rapids, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49504 | $202,940 | $210,800 | $266,600 | $317,300 | $525,240 |
| 49507 | $411,400 | $411,400 | $411,400 | $411,400 | $411,400 |
| 49534 | $188,800 | $230,000 | $299,200 | $409,400 | $530,600 |
| 49544 | $170,800 | $263,750 | $317,200 | $403,000 | $455,480 |
Source: Ownwell
Property Tax Bills Across Grand Rapids, Michigan
In Grand Rapids, located in Ottawa County, MI, property tax bills are determined by assessing the market value of a home and applying the local tax rate. For 2023, the median home price in Grand Rapids is $299,100. Property taxes here are influenced by local tax rates, which can vary significantly. Homeowners in the 25th percentile can expect a tax bill around $1,574, whereas those in the 75th percentile might see bills as high as $3,134. At the 90th percentile, tax bills can reach up to $4,545. The highest median tax bill in the area is $2,948, found in the 49507 zip code, while the lowest median tax bill is $1,685 in the 49504 zip code. These variations can impact homeowners' financial planning, particularly when compared to the national median property tax rate of 0.99%. Understanding these factors is crucial for homeowners to anticipate their annual expenses and manage their budgets effectively.
Average Grand Rapids Tax Bill
$2,108
Average Ottawa County Tax Bill
$2,533
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Grand Rapids, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49504 | $773 | $946 | $1,685 | $2,467 | $3,287 |
| 49507 | $2,948 | $2,948 | $2,948 | $2,948 | $2,948 |
| 49534 | $1,049 | $1,585 | $2,113 | $3,141 | $4,557 |
| 49544 | $804 | $997 | $1,865 | $2,648 | $3,874 |
Source: Ownwell