Paw Paw, Michigan Property Taxes
The median property tax rate in Paw Paw, 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 Paw Paw at $197,600, the typical annual property tax bill amounts to $890, which is well below the national median of $2,690. Property taxes in Paw Paw 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 Paw Paw'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 Paw Paw or another part of Van Buren County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Paw Paw, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$771
$715
Ownwell’s Paw Paw Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Paw Paw with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paw Paw 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 Paw Paw, Michigan
Property taxes in Paw Paw, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paw Paw is 1.52%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Paw Paw set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paw Paw 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 Paw Paw's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate is 1.54%, while the lowest median tax rate is 1.54%. Understanding how these cities compare with Paw Paw 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 Paw Paw 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 Paw Paw, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49079 | 0.28% | 0.34% | 0.39% | 0.51% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Paw Paw, Michigan
In Paw Paw, 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 Paw Paw, 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 Paw Paw helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Paw Paw zip code 49079 are both $890, offering a clear snapshot of the local tax landscape.
Average Paw Paw Assessed Value
$197,600
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 Paw Paw, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49079 | $94,200 | $141,400 | $197,600 | $271,200 | $362,800 |
Source: Ownwell
Property Tax Bills Across Paw Paw, Michigan
In Paw Paw, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the Van Buren County assessor's office. The assessed value typically represents 50% of the property's market value. For instance, with a median home price of $197,600, the assessed value would be approximately $98,800. Property tax rates are then applied to this assessed value to determine the final tax bill. Factors influencing the tax bill include the local tax rate, which can vary within different parts of Van Buren County. Homeowners in Paw Paw can expect a range of tax bills depending on their property's assessed value. For example, tax bills can range from $616 at the 25th percentile to $1,773 at the 90th percentile. The highest and lowest median tax bills in the area are both $890, highlighting some consistency in the region. Compared to the national median property tax rate of 0.99%, homeowners in Paw Paw experience a relatively moderate tax burden, impacting their overall housing costs.
Average Paw Paw Tax Bill
$890
Average Van Buren County Tax Bill
$842
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Paw Paw, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49079 | $365 | $616 | $890 | $1,256 | $1,773 |
Source: Ownwell