Benton Harbor, Michigan Property Taxes
The median property tax rate in Benton Harbor, MI is 0.34%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Benton Harbor, the typical annual property tax bill reaches $636, which is well below the national median of $2,690. Property taxes in Benton Harbor are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Benton Harbor'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 Benton Harbor or another part of Van Buren County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Benton Harbor, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$647
Ownwell’s Benton Harbor Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a quick way to estimate their annual property taxes with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Benton Harbor to provide an estimate of your property tax bill. This valuable tool gives you a clear understanding of potential tax liabilities. If you're curious about trends at a neighborhood level, scroll down for more localized information. Your property’s assessed value is determined by the county for property tax purposes and includes any applicable exemptions.
Property Tax Rates Across Benton Harbor, Michigan
Property taxes in Benton Harbor, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Benton Harbor is 1.82%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Benton Harbor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Benton Harbor 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 Benton Harbor's effective property tax rate to other counties in Michigan and the national median. For comparison, 49022 has the highest median property tax rate of 1.82%, while 49023 has the lowest median tax rate of 1.47%. Understanding how these cities compare with Benton Harbor provides valuable insights into the varying tax landscape across Berrien County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Benton Harbor Tax Rate
0.34%
Average Van Buren County Tax Rate
0.43%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Benton Harbor, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49022 | 0.25% | 0.30% | 0.34% | 0.39% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Benton Harbor, Michigan
In Benton Harbor, 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 local 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 Benton Harbor, 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. The median home price in Benton Harbor is $190,300, with tax bills ranging from $381 at the 25th percentile to $2,522 at the 90th percentile. The zip code 49022 consistently shows the highest and lowest median tax bill at $636. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Benton Harbor Assessed Value
$190,300
Average Van Buren County Assessed Value
$178,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Benton Harbor, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49022 | $65,300 | $113,000 | $190,300 | $430,500 | $699,200 |
Source: Ownwell
Property Tax Bills Across Benton Harbor, Michigan
In Benton Harbor, Van Buren County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is typically a percentage of the home's market value. Homeowners in Benton Harbor experience a range of property tax bills, with the 25th percentile at $381 and the 75th percentile at $1,383. The 90th percentile reaches up to $2,522, indicating significant variation based on property values and specific local tax rates. The median home price in Benton Harbor is $190,300, and the property tax rate is influenced by various factors, including local government budgets and school district funding needs. Compared to the national median property tax rate of 0.99%, homeowners in Benton Harbor may find their tax bills relatively moderate. Understanding these factors can help homeowners anticipate their annual property tax expenses and budget accordingly.
Average Benton Harbor Tax Bill
$636
Average Van Buren County Tax Bill
$842
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Benton Harbor, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49022 | $228 | $381 | $636 | $1,383 | $2,522 |
Source: Ownwell