Ypsilanti, Michigan Property Taxes
The median property tax rate in Ypsilanti, MI is 1.21%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Ypsilanti, the typical annual property tax bill reaches $2,974, exceeding the national median of $2,690. Property taxes in Ypsilanti 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 Ypsilanti'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 Ypsilanti 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
Ypsilanti, 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 Ypsilanti Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ypsilanti with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ypsilanti 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 Ypsilanti, Michigan
Property taxes in Ypsilanti, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ypsilanti is 1.21%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Ypsilanti set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ypsilanti 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 Ypsilanti's effective property tax rate to other areas in Washtenaw County and the national median. For comparison, the 48198 zip code has the highest median property tax rate of 1.24%, while the 48197 zip code has the lowest median tax rate of 1.19%. Understanding how these cities compare with Ypsilanti 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 Ypsilanti Tax Rate
1.21%
Average Washtenaw County Tax Rate
1.22%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ypsilanti, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48197 | 0.84% | 0.93% | 1.19% | 1.61% | 2.34% |
| 48198 | 0.72% | 0.99% | 1.24% | 1.67% | 1.94% |
Source: Ownwell
Property Tax Assessment Values Across Ypsilanti, Michigan
In Ypsilanti, 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 Ypsilanti, 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 Ypsilanti is $215,000, and understanding these valuation concepts can help property owners navigate their tax responsibilities. For instance, the highest median tax bill is $3,220 in the 48197 zip code, while the lowest is $2,408 in the 48198 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ypsilanti Assessed Value
$215,000
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 Ypsilanti, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48197 | $97,600 | $197,800 | $259,600 | $323,200 | $389,160 |
| 48198 | $102,400 | $127,400 | $160,400 | $207,000 | $292,200 |
Source: Ownwell
Property Tax Bills Across Ypsilanti, Michigan
Property tax bills in Ypsilanti, located in Washtenaw County, MI, are calculated based on the assessed value of a property, which is typically a percentage of its market value. Local tax rates, known as millage rates, are then applied to this assessed value. Factors influencing the tax bill include the property's location, condition, and any applicable exemptions or abatements. For homeowners in Ypsilanti, the median home price stands at $215,000. Tax bills vary significantly, with the 25th percentile at $2,099 and the 75th percentile reaching $4,152. The 90th percentile tax bill can go as high as $5,609. The highest median tax bill in the area is $3,220 in the 48197 zip code, while the lowest is $2,408 in the 48198 zip code. These property taxes can impact homeowners by influencing their overall cost of living and potentially affecting property values. Compared to the national median property tax rate of 0.99%, Ypsilanti's rates reflect local economic conditions and funding needs for public services.
Average Ypsilanti Tax Bill
$2,974
Average Washtenaw County Tax Bill
$4,022
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Ypsilanti, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48197 | $1,786 | $2,410 | $3,220 | $4,396 | $5,882 |
| 48198 | $1,057 | $1,575 | $2,408 | $3,601 | $5,117 |
Source: Ownwell