Henderson, Michigan Property Taxes
The median property tax rate in Henderson, MI is 1.14%, which is considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Henderson at $125,000, the typical annual property tax bill reaches $1,451, exceeding the national median of $2,690. Property taxes in Henderson 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 Henderson'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 Henderson 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
Henderson, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$1,425
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, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Henderson is 1.14%, which is higher than 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 48841 zip code has the highest median property tax rate of 1.14%, while the same 48841 zip code also has the lowest median tax rate of 1.14%. Understanding how these cities compare with Henderson provides valuable insights into the varying tax landscape across Shiawassee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Henderson Tax Rate
1.14%
Average Shiawassee County Tax Rate
1.23%
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 | 0.88% | 1.00% | 1.14% | 1.27% | 1.57% |
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 Shiawassee 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. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For example, the median home price in Henderson is $125,000, with tax bills ranging from $995 at the 25th percentile to $2,620 at the 90th percentile. The highest and lowest median tax bills both occur in the 48841 zip code, each at $1,451. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Henderson Assessed Value
$125,000
Average Shiawassee County Assessed Value
$142,800
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 | $70,480 | $91,800 | $125,000 | $177,600 | $213,920 |
Source: Ownwell
Property Tax Bills Across Henderson, Michigan
In Henderson, located in Shiawassee County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $125,000, the tax bill can vary significantly. Homeowners in the 25th percentile can expect to pay around $995 annually, while those in the 75th percentile may see bills closer to $2,007. At the 90th percentile, tax bills can reach up to $2,620. These figures illustrate the range of property tax obligations in the area, influenced by factors such as home value, tax rates, and available exemptions. Compared to the national median property tax rate of 0.99%, Shiawassee County's rates reflect regional economic conditions and funding needs. For homeowners, understanding these factors is crucial in managing finances and anticipating yearly expenses.
Average Henderson Tax Bill
$1,451
Average Shiawassee County Tax Bill
$1,816
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 | $713 | $995 | $1,451 | $2,007 | $2,620 |
Source: Ownwell