Dearborn, Michigan Property Taxes
The median property tax rate in Dearborn, MI is 1.51%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Dearborn at $179,600, the typical annual property tax bill reaches $2,833, exceeding the national median of $2,690. Property taxes in Dearborn 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 Dearborn'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 Dearborn 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
Dearborn, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.51%
Estimate Property Tax Bill
$2,712
Ownwell’s Dearborn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dearborn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dearborn 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 Dearborn, Michigan
Property taxes in Dearborn, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dearborn is 1.51%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Dearborn set these rates annually, and they can vary considerably across different neighborhoods. Each year, Dearborn 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 Dearborn's effective property tax rate to other areas in Wayne County and the national median. For comparison, the 48120 zip code has the highest median property tax rate of 1.67%, while the 48126 zip code has the lowest median tax rate of 1.47%. Understanding how these areas compare with Dearborn provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dearborn Tax Rate
1.51%
Average Wayne County Tax Rate
1.44%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dearborn, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48120 | 1.17% | 1.35% | 1.67% | 2.02% | 2.29% |
| 48124 | 1.18% | 1.31% | 1.54% | 1.93% | 2.18% |
| 48126 | 1.06% | 1.21% | 1.47% | 1.88% | 2.20% |
| 48128 | 1.14% | 1.29% | 1.48% | 1.90% | 2.18% |
Source: Ownwell
Property Tax Assessment Values Across Dearborn, Michigan
In Dearborn, 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 Wayne 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 Dearborn, 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. For instance, the median home price in Dearborn is $179,600, with tax bills ranging significantly. The highest median tax bill of $3,515 is in the 48128 zip code, while the lowest median tax bill of $2,538 is in the 48126 zip code. 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 Dearborn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dearborn Assessed Value
$179,600
Average Wayne County Assessed Value
$126,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dearborn, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48120 | $100,380 | $121,950 | $188,700 | $251,900 | $329,500 |
| 48124 | $120,600 | $141,800 | $172,000 | $239,400 | $337,700 |
| 48126 | $125,200 | $146,300 | $170,400 | $203,400 | $280,600 |
| 48128 | $181,800 | $196,600 | $218,700 | $258,600 | $348,600 |
Source: Ownwell
Property Tax Bills Across Dearborn, Michigan
In Dearborn, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Homeowners in Wayne County see a range of tax bills, influenced by various factors such as the property's location and market conditions. For instance, the median home price in Dearborn is $179,600. Tax bills can vary significantly, with the 25th percentile at $2,165 and the 75th percentile at $3,851. The highest median tax bill within the city is $3,515 in the 48128 zip code, while the lowest is $2,538 in the 48126 zip code. These tax bills impact homeowners by contributing to the overall cost of owning property. Compared to the national median property tax rate of 0.99%, Dearborn's tax rates reflect the local government's funding needs for services like schools, infrastructure, and emergency services. Understanding these factors helps homeowners anticipate their annual expenses and budget accordingly.
Average Dearborn Tax Bill
$2,833
Average Wayne County Tax Bill
$1,625
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Dearborn, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48120 | $1,618 | $2,108 | $2,965 | $4,092 | $5,638 |
| 48124 | $1,754 | $2,157 | $2,842 | $3,984 | $5,707 |
| 48126 | $1,659 | $2,010 | $2,538 | $3,379 | $4,616 |
| 48128 | $2,561 | $2,875 | $3,515 | $4,381 | $5,484 |
Source: Ownwell