Grand Junction, Michigan Property Taxes
The median property tax rate in Grand Junction, MI is 0.39%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Grand Junction, the typical annual property tax bill is $484, well below the national median of $2,690. Property taxes in Grand Junction are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Grand Junction'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 Grand Junction 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
Grand Junction, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$470
$436
Ownwell’s Grand Junction Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grand Junction with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grand Junction 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 Grand Junction, Michigan
Property taxes in Grand Junction, Michigan, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Grand Junction is 0.39%, significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Grand Junction set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grand Junction 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 Grand Junction's effective property tax rate to other areas in Michigan and the national median. Understanding how these cities compare with Grand Junction 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 Grand Junction Tax Rate
0.39%
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 Grand Junction, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49056 | 0.24% | 0.32% | 0.39% | 0.48% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Grand Junction, Michigan
In Grand Junction, 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 Grand Junction, 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 Grand Junction is $120,400, with tax bills ranging from $266 at the 25th percentile to $1,358 at the 90th percentile. The zip code 49056 has both the highest and lowest median tax bill, recorded at $484. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Grand Junction, Michigan
Source: Ownwell
$48,600
$148,650
$248,700
Average Grand Junction Assessed Value
$120,400
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 Grand Junction, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49056 | $34,960 | $69,400 | $120,400 | $209,200 | $314,480 |
Source: Ownwell
Property Tax Bills Across Grand Junction, Michigan
In Grand Junction, property tax bills are calculated based on the assessed value of a home, which is often a percentage of the market value. Homeowners in Van Buren County see their tax bills influenced by various factors, including the assessed property value and the local tax rate. For instance, with a median home price of $120,400, homeowners can expect tax bills that vary significantly across different percentiles. At the 25th percentile, tax bills are around $266, while at the 75th percentile, they can rise to approximately $859. The 90th percentile sees tax bills reaching up to $1,358. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners in Grand Junction to be aware of how their local tax rate stacks up. In Van Buren County, the highest and lowest median tax bills both stand at $484, indicating a relatively narrow range of property tax burdens. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Grand Junction Tax Bill
$484
Average Van Buren County Tax Bill
$842
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Grand Junction, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49056 | $131 | $266 | $484 | $859 | $1,358 |
Source: Ownwell