Grosse Pointe Shores, Michigan Property Taxes
The median property tax rate in Grosse Pointe Shores, MI is 1.82%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Grosse Pointe Shores, the typical annual property tax bill reaches $11,764, far exceeding the national median of $2,690. Property taxes in Grosse Pointe Shores 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 Grosse Pointe Shores' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Grosse Pointe Shores 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
Grosse Pointe Shores, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.82%
Estimate Property Tax Bill
$11,197
Ownwell’s Grosse Pointe Shores Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grosse Pointe Shores with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grosse Pointe Shores 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 Grosse Pointe Shores, Michigan
Property taxes in Grosse Pointe Shores, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grosse Pointe Shores is 1.82%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Grosse Pointe Shores set these rates annually, and they can vary across different neighborhoods. Each year, Grosse Pointe Shores 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 Grosse Pointe Shores' effective property tax rate to other counties in Michigan and the national median. For comparison, the 48236 zip code has the highest median property tax rate of 1.82%, while the same zip code also has the lowest median tax rate of 1.82%. Understanding how these areas compare with Grosse Pointe Shores 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 Grosse Pointe Shores Tax Rate
1.82%
Average Wayne County Tax Rate
1.44%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grosse Pointe Shores, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48236 | 1.35% | 1.57% | 1.82% | 2.11% | 2.38% |
Source: Ownwell
Property Tax Assessment Values Across Grosse Pointe Shores, Michigan
In Grosse Pointe Shores, 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. 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 Grosse Pointe Shores helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 48236 has the highest and lowest median tax bill, both at $11,764, reflecting the uniformity in tax assessments in this area.
Property Tax Assessment Values Across Grosse Pointe Shores, Michigan
Source: Ownwell
$7,000
$311,100
$615,200
Average Grosse Pointe Shores Assessed Value
$615,200
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 Grosse Pointe Shores, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48236 | $427,480 | $506,200 | $615,200 | $794,200 | $1,148,000 |
Source: Ownwell
Property Tax Bills Across Grosse Pointe Shores, Michigan
In Grosse Pointe Shores, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is typically a percentage of the market value of the property. Homeowners in this city experience varying tax bills, influenced by factors such as property size, location, and market conditions. For instance, the median home price in Grosse Pointe Shores is $615,200, with tax bills ranging from $8,976 at the 25th percentile to $21,706 at the 90th percentile. The highest and lowest median tax bills in the area are both $11,764, reflecting the uniformity within the zip code 48236. Compared to the national median property tax rate of 0.99%, homeowners in Grosse Pointe Shores face higher rates, impacting their annual financial planning. These taxes fund essential public services like schools, infrastructure, and emergency services, directly affecting the quality of life for residents. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Grosse Pointe Shores Tax Bill
$11,764
Average Wayne County Tax Bill
$1,625
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Grosse Pointe Shores, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48236 | $6,850 | $8,976 | $11,764 | $14,806 | $21,706 |
Source: Ownwell