Henderson, Michigan Property Taxes
The median property tax rate in Henderson, Michigan is 0.31%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $157,000 in Henderson, the typical annual property tax bill amounts to $488, well below the national median of $2,690. Property taxes in Henderson 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. Understanding Henderson's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you reside in the heart of Henderson or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Henderson, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.31%
Estimate Property Tax Bill
$487
Ownwell’s HENDERSON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HENDERSON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HENDERSON 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 Henderson, Michigan
Property taxes in HENDERSON, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in HENDERSON is 1.71%, significantly higher than both the Michigan state median of 1.31% and the U.S. national median of 0.99%. Local government entities within HENDERSON set these rates annually, and they can vary significantly across different neighborhoods. Each year, HENDERSON 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 HENDERSON's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48867 zip code has the highest median property tax rate of 1.75%, while the 48841 zip code has the lowest median tax rate of 1.67%. Understanding how these cities compare with HENDERSON provides valuable insights into the varying tax landscape across Saginaw, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Henderson Tax Rate
0.31%
Average Saginaw County Tax Rate
0.78%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Henderson, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48841 | 0.18% | 0.20% | 0.31% | 0.41% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Henderson, Michigan
In Henderson, 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 Saginaw 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 Henderson, 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 highest median tax bill in the area is $488 in the 48841 zip code. 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 Henderson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Henderson Assessed Value
$157,000
Average Saginaw County Assessed Value
$119,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Henderson, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48841 | $77,040 | $113,800 | $157,000 | $243,600 | $403,440 |
Source: Ownwell
Property Tax Bills Across Henderson, Michigan
In Henderson, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property, and this percentage can vary. The local tax rate is then applied to this assessed value to determine the annual property tax bill. For homeowners in Henderson, the median home price is $157,000. Tax bills can vary significantly, with the 25th percentile paying around $337 annually, while those in the 75th percentile pay approximately $734. The 90th percentile sees tax bills as high as $1,096. This range indicates how different factors, such as property location and improvements, can affect the assessed value and, consequently, the tax bill. Comparatively, the national median property tax rate is 0.99%, and Henderson's rates reflect local economic conditions and funding needs. Understanding these factors can help homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Henderson Tax Bill
$488
Average Saginaw County Tax Bill
$894
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Henderson, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48841 | $194 | $337 | $488 | $734 | $1,096 |
Source: Ownwell