Van Buren Twp, Michigan Property Taxes
The median property tax rate in Van Buren Twp, MI is 0.95%, slightly below both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Van Buren Twp at $195,400, the typical annual property tax bill reaches $1,581, which is lower than the national median of $2,690. Property taxes in Van Buren Twp are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Van Buren Twp'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 Van Buren Twp 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
Van Buren Twp, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$1,856
$1,723
Ownwell’s Van Buren Township Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Van Buren Township with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Van Buren Township 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 Van Buren Twp, Michigan
Property taxes in Van Buren Township, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Van Buren Township is 1.95%, notably higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Van Buren Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Van Buren Township 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 Van Buren Township's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48111 zip code has the highest median property tax rate of 1.95%, while the 48111 zip code also has the lowest median tax rate of 1.95%. Understanding how these cities compare with Van Buren Township 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 Van Buren Twp Tax Rate
0.95%
Average Washtenaw County Tax Rate
1.22%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Van Buren Twp, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48111 | 0.86% | 0.89% | 0.95% | 1.10% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Van Buren Twp, Michigan
In Van Buren Township, 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 Van Buren Township, 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 Van Buren Township helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Van Buren Township, the median home price is $195,400, with the 25th percentile tax bill at $1,381 and the 75th percentile tax bill at $1,960. The highest and lowest median tax bills are both $1,581, found in the 48111 zip code.
Property Tax Assessment Values Across Van Buren Twp, Michigan
Source: Ownwell
$146,000
$532,800
$919,600
Average Van Buren Twp Assessed Value
$195,400
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 Van Buren Twp, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48111 | $114,660 | $149,550 | $195,400 | $303,500 | $445,720 |
Source: Ownwell
Property Tax Bills Across Van Buren Twp, Michigan
In Van Buren Township, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, with a median home price of $195,400, homeowners can expect varying tax bills depending on their property's assessed value and the applicable tax rate. The median property tax rate in Michigan is around 1.54%, which is higher than the national median of 0.99%. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. For example, the 25th percentile tax bill in Van Buren Township is $1,381, while the 75th percentile reaches $1,960, and the 90th percentile can go up to $2,187. This variation highlights how different factors impact individual tax liabilities. Homeowners in Van Buren Township should be aware of these factors to understand their tax obligations better and potentially seek exemptions or appeal their assessments to lower their tax bills.
Average Van Buren Twp Tax Bill
$1,581
Average Washtenaw County Tax Bill
$4,022
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Van Buren Twp, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48111 | $1,261 | $1,381 | $1,581 | $1,960 | $2,187 |
Source: Ownwell