Gregory, Michigan Property Taxes
The median property tax rate in Gregory, 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 Gregory at $294,300, the typical annual property tax bill amounts to $1,131, well below the national median of $2,690. Property taxes in Gregory are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Gregory'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 Gregory 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
Gregory, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$1,148
Ownwell’s Gregory Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gregory with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gregory 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 Gregory, Michigan
Property taxes in Gregory, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gregory is 1.78%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Gregory set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gregory 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 Gregory's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48197 zip code has the highest median property tax rate of 2.22%, while the 48103 zip code has the lowest median tax rate of 1.51%. Understanding how these cities compare with Gregory 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 Gregory Tax Rate
0.39%
Average Washtenaw County Tax Rate
1.22%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gregory, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48137 | 0.27% | 0.33% | 0.39% | 0.46% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Gregory, Michigan
In Gregory, 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 Gregory, 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. The median home price in Gregory is $294,300, with tax bills ranging from $726 at the 25th percentile to $2,365 at the 90th percentile. The zip code 48137 has the highest and lowest median tax bill, both at $1,131. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gregory Assessed Value
$294,300
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 Gregory, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48137 | $89,700 | $199,750 | $294,300 | $434,850 | $562,700 |
Source: Ownwell
Property Tax Bills Across Gregory, Michigan
In Gregory, located in Washtenaw County, MI, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the local tax assessor and typically represents a percentage of the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Homeowners in Gregory see a range of tax bills. For example, the 25th percentile tax bill is around $726, while the 75th percentile tax bill can reach up to $1,714. At the higher end, the 90th percentile tax bill is approximately $2,365. Compared to the national median property tax rate of 0.99%, Gregory's tax bills can significantly impact homeowners, especially those with higher-value properties. Understanding these factors can help homeowners better anticipate their property tax obligations and plan accordingly.
Average Gregory Tax Bill
$1,131
Average Washtenaw County Tax Bill
$4,022
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Gregory, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48137 | $313 | $726 | $1,131 | $1,714 | $2,365 |
Source: Ownwell