Vicksburg, St. Joseph County, Michigan Property Taxes
The median property tax rate in Vicksburg, MI is 0.36%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $201,400 in Vicksburg, the typical annual property tax bill amounts to $627, well below the national median of $2,690. Property taxes in Vicksburg 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 Vicksburg'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 Vicksburg 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
Vicksburg, St. Joseph County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$725
$673
Ownwell’s Vicksburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Vicksburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vicksburg 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 Vicksburg, St. Joseph County, Michigan
Property taxes in Vicksburg, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Vicksburg is 1.64%, significantly higher than the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Vicksburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vicksburg 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 Vicksburg's effective property tax rate to other counties in Michigan and the national median. For comparison, 49087 has the highest median property tax rate of 2.10%, while 49088 has the lowest median tax rate of 1.18%. Understanding how these cities compare with Vicksburg provides valuable insights into the varying tax landscape across St. Joseph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Vicksburg Tax Rate
0.36%
Average St. Joseph County Tax Rate
0.41%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Vicksburg, St. Joseph County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49097 | 0.21% | 0.32% | 0.36% | 0.45% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Vicksburg, St. Joseph County, Michigan
In Vicksburg, 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. Joseph 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 Vicksburg, 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 Vicksburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Vicksburg are both $627, found in the zip code 49097.
Property Tax Assessment Values Across Vicksburg, St. Joseph County, Michigan
Source: Ownwell
$114,900
$158,150
$201,400
Average Vicksburg Assessed Value
$201,400
Average St. Joseph County Assessed Value
$142,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Vicksburg, St. Joseph County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49097 | $98,200 | $129,400 | $201,400 | $258,000 | $360,000 |
Source: Ownwell
Property Tax Bills Across Vicksburg, St. Joseph County, Michigan
In Vicksburg, MI, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Various factors influence the assessed value, including property size, location, and any improvements made. For homeowners in Vicksburg, the median home price stands at $201,400, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $474, while the 75th percentile tax bill reaches $844. At the 90th percentile, homeowners might see a tax bill as high as $1,232. The highest and lowest median tax bills in the area are both $627, specifically in the zip code 49097. Compared to the national median property tax rate of 0.99%, Vicksburg's property tax rates can be considered moderate, affecting homeowners' annual budgets and influencing decisions on property investments and improvements.
Average Vicksburg Tax Bill
$627
Average St. Joseph County Tax Bill
$772
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Vicksburg, St. Joseph County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49097 | $377 | $474 | $627 | $844 | $1,232 |
Source: Ownwell