Greenwood, St. Clair County, Michigan Property Taxes
The median property tax rate in Greenwood, MI is 0.28%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $233,100 in Greenwood, the typical annual property tax bill is $707, well below the national median of $2,690. Property taxes in Greenwood are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Greenwood's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Greenwood 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
Greenwood, St. Clair County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.28%
Estimate Property Tax Bill
$653
$606
Ownwell’s Greenwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenwood 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 Greenwood, St. Clair County, Michigan
Property taxes in Greenwood, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenwood is 0.28%, significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Greenwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenwood 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 Greenwood's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in the state is 1.71%, while the lowest median tax rate is 0.83%. Understanding how these cities compare with Greenwood provides valuable insights into the varying tax landscape across St. Clair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greenwood Tax Rate
0.28%
Average St. Clair County Tax Rate
0.78%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greenwood, St. Clair County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48006 | 0.25% | 0.26% | 0.28% | 0.37% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Greenwood, St. Clair County, Michigan
In Greenwood, 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 St. Clair 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 Greenwood, 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 Greenwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest and lowest median tax bill is 48006, with a median bill of $707.
Property Tax Assessment Values Across Greenwood, St. Clair County, Michigan
Source: Ownwell
$35,200
$161,900
$288,600
Average Greenwood Assessed Value
$233,100
Average St. Clair County Assessed Value
$181,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Greenwood, St. Clair County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48006 | $106,260 | $168,050 | $233,100 | $294,700 | $367,920 |
Source: Ownwell
Property Tax Bills Across Greenwood, St. Clair County, Michigan
In Greenwood, located in St. Clair County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the property's market value, and it forms the basis for the property tax bill. Factors such as the property's location, size, and condition influence the assessed value. Homeowners in Greenwood can expect varying tax bills. For instance, the tax bill at the 25th percentile is $513, while at the 75th percentile, it rises to $944. At the 90th percentile, homeowners may see tax bills as high as $1,296. These figures illustrate the range of property tax burdens within the city. Comparatively, the national median property tax rate is 0.99%, highlighting how Greenwood's property taxes can impact homeowners differently. The highest and lowest median tax bill in the city is recorded at $707 in the zip code 48006, showcasing localized variations even within the same county.
Average Greenwood Tax Bill
$707
Average St. Clair County Tax Bill
$1,504
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenwood, St. Clair County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48006 | $318 | $513 | $707 | $944 | $1,296 |
Source: Ownwell