Plymouth, Michigan Property Taxes
The median property tax rate in Plymouth, MI is 1.01%, slightly higher than the national median of 0.99% but lower than the Michigan state median of 1.07%. With a median home value of $368,400 in Plymouth, the typical annual property tax bill reaches $3,851, which exceeds the national median of $2,690. Property taxes in Plymouth 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 Plymouth'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 Plymouth 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
Plymouth, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$3,721
$3,453
Ownwell’s Plymouth Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Plymouth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Plymouth 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 Plymouth, Michigan
Property taxes in Plymouth, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plymouth is 1.01%, slightly higher than the U.S. national median of 0.99%. Local government entities within Plymouth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plymouth 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 Plymouth's effective property tax rate to other areas in Wayne County and the national median. For comparison, the zip code 48170 has the highest median property tax rate of 1.01%, while the same zip code also has the lowest median tax rate of 1.01%. Understanding how these figures compare with Plymouth 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 Plymouth Tax Rate
1.01%
Average Wayne County Tax Rate
1.44%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plymouth, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48170 | 0.74% | 0.85% | 1.01% | 1.18% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Plymouth, Michigan
In Plymouth, 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 Plymouth, 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 Plymouth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Plymouth are both $3,851, found in the 48170 zip code.
Average Plymouth Assessed Value
$368,400
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 Plymouth, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48170 | $204,000 | $270,600 | $368,400 | $476,600 | $619,200 |
Source: Ownwell
Property Tax Bills Across Plymouth, Michigan
In Plymouth, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is typically a percentage of the property's market value. For example, if a home’s market value is $368,400, the assessed value would be a fraction of this amount, influenced by local assessment ratios and exemptions. The tax rate in Plymouth is then applied to the assessed value to determine the tax bill. Factors such as local levies for schools, infrastructure, and public services also play a role in the final amount. Homeowners in Plymouth can expect to see tax bills that vary significantly; the 25th percentile tax bill is around $2,523, while the 75th percentile reaches up to $5,401. At the 90th percentile, it can go as high as $7,445. Comparatively, Plymouth’s property tax rates are above the national median of 0.99%, impacting homeowners by requiring a more substantial financial outlay annually, which can affect budgeting and long-term financial planning.
Average Plymouth Tax Bill
$3,851
Average Wayne County Tax Bill
$1,625
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Plymouth, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48170 | $1,815 | $2,523 | $3,851 | $5,401 | $7,445 |
Source: Ownwell