Holland, Michigan Property Taxes
The median property tax rate in Holland, MI is 1.00%, slightly higher than the national median of 0.99% but lower than the Michigan state median of 1.07%. With a median home value of $248,400 in Holland, the typical annual property tax bill amounts to $2,583, which is below the national median of $2,690. Property taxes in Holland are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Holland'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 Holland or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Holland, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$2,484
Ownwell’s Holland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holland 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 Holland, Michigan
Property taxes in Holland, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holland is 1.00%, slightly higher than the U.S. national median of 0.99%. Local government entities within Holland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holland 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 Holland's effective property tax rate to other areas in Ottawa County and the national median. For comparison, the 49423 zip code has the highest median property tax rate of 1.21%, while the 49424 zip code has the lowest median tax rate of 0.88%. Understanding how these areas compare with Holland 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 Holland Tax Rate
1.00%
Average Ottawa County Tax Rate
0.90%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holland, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49423 | 0.78% | 1.00% | 1.21% | 1.58% | 1.90% |
| 49424 | 0.67% | 0.74% | 0.88% | 1.11% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Holland, Michigan
In Holland, 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 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. In Holland, 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 Holland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill is $2,774 in the 49423 zip code, while the lowest is $2,458 in the 49424 zip code.
Average Holland Assessed Value
$248,400
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 Holland, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49423 | $146,600 | $174,800 | $215,200 | $282,000 | $392,940 |
| 49424 | $166,200 | $214,000 | $268,000 | $385,400 | $568,300 |
Source: Ownwell
Property Tax Bills Across Holland, Michigan
In Holland, Ottawa County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, with a median home price of $248,400, the assessed value plays a crucial role in determining the tax bill. Local tax rates are applied to this assessed value to calculate the final tax amount. Various factors influence the property tax bill, including the home's location, its assessed value, and local tax rates. Homeowners in Holland can expect tax bills to vary significantly. For example, the 25th percentile tax bill is around $1,820, while the 75th percentile tax bill reaches approximately $3,769. At the 90th percentile, the tax bill can be as high as $5,724. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and public safety. In comparison to the national median property tax rate of 0.99%, Holland's property tax rates reflect a substantial investment in community resources and services.
Average Holland Tax Bill
$2,583
Average Ottawa County Tax Bill
$2,533
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Holland, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49423 | $1,443 | $2,014 | $2,774 | $3,784 | $5,347 |
| 49424 | $1,313 | $1,743 | $2,458 | $3,760 | $5,949 |
Source: Ownwell