Chelsea, Michigan Property Taxes
The median property tax rate in Chelsea, MI is 0.49%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $312,600 in Chelsea, the typical annual property tax bill is around $1,946, which is below the national median of $2,690. Property taxes in Chelsea are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Chelsea'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 Chelsea 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
Chelsea, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$1,532
$1,421
Ownwell’s Chelsea Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chelsea with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chelsea 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 Chelsea, Michigan
Property taxes in Chelsea, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chelsea is 0.49%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Chelsea set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chelsea 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 Chelsea's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48118 zip code has both the highest and lowest median property tax rate of 0.49%. Understanding how these cities compare with Chelsea provides valuable insights into the varying tax landscape across Washtenaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chelsea Tax Rate
0.49%
Average Washtenaw County Tax Rate
1.22%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chelsea, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48118 | 0.32% | 0.38% | 0.49% | 1.22% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Chelsea, Michigan
In Chelsea, 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 Washtenaw 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 Chelsea, 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. In Chelsea, the highest median tax bill is found in the 48118 zip code, amounting to $1,946. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Chelsea Assessed Value
$312,600
Average Washtenaw County Assessed Value
$319,000
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chelsea, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48118 | $172,680 | $236,800 | $312,600 | $408,850 | $537,720 |
Source: Ownwell
Property Tax Bills Across Chelsea, Michigan
In Chelsea, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Chelsea is $312,600. Local tax rates are applied to this assessed value to determine the annual tax bill. For homeowners in Chelsea, property tax bills can vary significantly. The 25th percentile tax bill is around $1,180, while the 75th percentile tax bill is approximately $3,477, and those in the 90th percentile see bills as high as $5,055. Several factors influence these variations, including property location within Washtenaw County and specific local levies. The highest and lowest median tax bills in the area are both $1,946, found in the 48118 zip code. Compared to the national median property tax rate of 0.99%, Chelsea homeowners may experience differing financial impacts based on their property's assessed value and the local tax rate. Understanding these factors is crucial for homeowners to anticipate their annual property tax obligations.
Average Chelsea Tax Bill
$1,946
Average Washtenaw County Tax Bill
$4,022
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Chelsea, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48118 | $787 | $1,180 | $1,946 | $3,477 | $5,055 |
Source: Ownwell