Detroit, Michigan Property Taxes

Ownwell’s Detroit Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Detroit with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Detroit 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 Wayne County for property tax calculations, accounting for any exemptions that may apply.

Property Tax Assessment Values Across Detroit, Michigan

In Detroit, 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 Assessor's Office 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 Detroit, 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 Detroit is $43,800, with tax bills ranging from $709 at the 25th percentile to $1,913 at the 90th percentile. The highest median tax bill is $5,125 in the 48203 zip code, while the lowest is $632 in the 48207 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 Detroit helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.

Property Tax Assessment Values Across Detroit, Michigan

Source: Ownwell

$7,000

$311,100

$615,200

Average Detroit Assessed Value

$43,800

Average Wayne County Assessed Value

$126,800

Average Michigan Assessed Value

$177,800

Average United States Assessed Value

$244,900