Ravenna, Michigan Property Taxes
The median property tax rate in Ravenna, MI is 0.30%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Ravenna, the typical annual property tax bill reaches $709, far below the national median of $2,690. Property taxes in Ravenna 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 Ravenna'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 Ravenna or another part of Ottawa County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ravenna, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.3%
Estimate Property Tax Bill
$727
Ownwell’s Ravenna Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ravenna with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ravenna 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 Ravenna, Michigan
Property taxes in Ravenna, Michigan, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Ravenna is 1.54%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Ravenna set these rates annually, and they can vary substantially across different neighborhoods. Each year, Ravenna estimates the 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 Ravenna's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in the region is 2.40%, while the lowest median tax rate is 0.87%. Understanding how these cities compare with Ravenna 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 Ravenna Tax Rate
0.30%
Average Ottawa County Tax Rate
0.90%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ravenna, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49451 | 0.21% | 0.28% | 0.30% | 0.38% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Ravenna, Michigan
In Ravenna, 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 Ravenna, 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 Ravenna is $242,200, with tax bills ranging from $538 at the 25th percentile to $1,378 at the 90th percentile. The highest and lowest median tax bills, both at $709, are found in the 49451 zip code. 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.
Average Ravenna Assessed Value
$242,200
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 Ravenna, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49451 | $110,880 | $185,000 | $242,200 | $319,950 | $477,320 |
Source: Ownwell
Property Tax Bills Across Ravenna, Michigan
In Ravenna, located in Ottawa County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The assessed value is a percentage of the market value of the property. Homeowners in Ravenna can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is around $538, while at the 75th percentile, it reaches approximately $935. At the 90th percentile, homeowners might see tax bills as high as $1378. These figures are influenced by several factors, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. The median home price in Ravenna is $242,200, which helps provide a baseline for understanding these tax bills. Compared to the national median property tax rate of 0.99%, homeowners in Ravenna might find their tax obligations to be relatively manageable, given the local rates and assessed values. This variability in tax bills reflects the diverse property values and economic conditions within the area.
Average Ravenna Tax Bill
$709
Average Ottawa County Tax Bill
$2,533
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Ravenna, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49451 | $388 | $538 | $709 | $935 | $1,378 |
Source: Ownwell