Whitmore Lake, Michigan Property Taxes
The median property tax rate in Whitmore Lake, MI is 0.37%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Whitmore Lake, the typical annual property tax bill is $933, which is substantially below the national median of $2,690. Property taxes in Whitmore Lake are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Whitmore Lake'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 Whitmore Lake 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
Whitmore Lake, Michigan Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$2,140
Ownwell’s Whitmore Lake Property Tax Bill Calculator assists homeowners, real estate investors, and prospective buyers in estimating their annual property taxes in Whitmore Lake with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Whitmore Lake to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by the county for tax calculations, accounting for any applicable exemptions.
Property Tax Rates Across Whitmore Lake, Michigan
Property taxes in Whitmore Lake, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Whitmore Lake is 0.37%, which is lower than both the Washtenaw County median and the U.S. national median of 0.99%. Local government entities within Whitmore Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Whitmore Lake 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 Whitmore Lake's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in Washtenaw County is significantly higher, while the lowest median tax rate in the county is also worth noting. Understanding how these cities compare with Whitmore Lake 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 Whitmore Lake Tax Rate
0.37%
Average Washtenaw County Tax Rate
1.22%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Whitmore Lake, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48189 | 0.20% | 0.30% | 0.37% | 0.46% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Whitmore Lake, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Whitmore Lake, Michigan. 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 Whitmore Lake, 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 Whitmore Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Whitmore Lake is $243,100, with the highest and lowest median tax bills both at $933 in zip code 48189.
Property Tax Assessment Values Across Whitmore Lake, Michigan
Source: Ownwell
$146,000
$532,800
$919,600
Average Whitmore Lake Assessed Value
$243,100
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 Whitmore Lake, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48189 | $1,600 | $99,500 | $243,100 | $341,700 | $462,980 |
Source: Ownwell
Property Tax Bills Across Whitmore Lake, Michigan
In Whitmore Lake, located in Washtenaw County, 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 here stands at $243,100. Local tax authorities then apply the relevant tax rate to this assessed value to determine the annual tax bill. Factors such as property improvements, neighborhood developments, and changes in market conditions can influence assessed values, and thus, the amount homeowners are required to pay. For homeowners in Whitmore Lake, the property tax bill can vary significantly. At the 25th percentile, tax bills are around $543, while at the 75th percentile, they reach approximately $1449. For those at the 90th percentile, the tax bill can go up to $2208. This variability highlights how different factors can impact individual tax obligations. With the national median property tax rate at 0.99%, understanding these local nuances is crucial for homeowners to anticipate and manage their property tax responsibilities effectively.
Average Whitmore Lake Tax Bill
$933
Average Washtenaw County Tax Bill
$4,022
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Whitmore Lake, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48189 | $5 | $543 | $933 | $1,449 | $2,208 |
Source: Ownwell