Bloomingdale, Michigan Property Taxes
The median property tax rate in Bloomingdale, MI is 0.37%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $148,700 in Bloomingdale, the typical annual property tax bill amounts to $580, well below the national median of $2,690. Property taxes in Bloomingdale 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 Bloomingdale'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 Bloomingdale 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
Bloomingdale, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.37%
Estimate Property Tax Bill
$550
$511
Ownwell’s Bloomingdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bloomingdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bloomingdale 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 Bloomingdale, Michigan
Property taxes in Bloomingdale, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bloomingdale is 1.44%, significantly higher than both the Michigan state median of 1.31% and the U.S. national median of 0.99%. Local government entities within Bloomingdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bloomingdale 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 Bloomingdale's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49055 has the highest median property tax rate of 1.44%, while the zip code 49056 has the lowest median tax rate of 0.88%. Understanding how these cities compare with Bloomingdale provides valuable insights into the varying tax landscape across Van Buren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bloomingdale Tax Rate
0.37%
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 Bloomingdale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49026 | 0.24% | 0.28% | 0.37% | 0.51% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Bloomingdale, Michigan
In Bloomingdale, 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 Van Buren 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 Bloomingdale, 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 Bloomingdale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Bloomingdale is $148,700, with the 25th percentile tax bill at $311 and the 75th percentile tax bill at $894. The highest and lowest median tax bill, both at $580, are found in zip code 49026.
Average Bloomingdale Assessed Value
$148,700
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 Bloomingdale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49026 | $51,060 | $86,400 | $148,700 | $226,050 | $300,000 |
Source: Ownwell
Property Tax Bills Across Bloomingdale, Michigan
In Bloomingdale, located in Van Buren County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, the median home price in Bloomingdale is $148,700. The property tax rate is applied to this assessed value to determine the annual tax bill. Various factors such as property size, location, and improvements can influence the assessed value. Homeowners in Bloomingdale can expect property tax bills to vary significantly. For example, tax bills at the 25th percentile are around $311, while those at the 75th percentile reach up to $894. The highest tax bills, at the 90th percentile, can be as much as $1,352. These figures illustrate the range of property tax burdens homeowners might face, depending on their property's assessed value and other contributing factors. Compared to the national median property tax rate of 0.99%, Bloomingdale's property tax rates reflect the local economic conditions and funding requirements for public services.
Average Bloomingdale Tax Bill
$580
Average Van Buren County Tax Bill
$842
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Bloomingdale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49026 | $163 | $311 | $580 | $894 | $1,352 |
Source: Ownwell