Elsie, Gratiot County, Michigan Property Taxes
Median Elsie, MI effective property tax rate: 0.45%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Elsie, MI home value: $138,600
Median annual Elsie, MI tax bill: $612, $1,788 lower than the national median property tax bill of $2,400.
How are property taxes in Gratiot calculated?
Property taxes in Elsie, MI are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Elsie’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Elsie, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Elsie, Gratiot County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.87%
Estimate Property Tax Bill
$1,723
$1,599
Property Tax Rates Across Elsie, Gratiot County, Michigan
Local government entities determine tax rates, which can vary significantly within a state. Annually, each county estimates the budget needed for services and divides this by the total value of all taxable property in its area, resulting in the property tax rate. Although setting tax rates and budgets involves votes and laws, this is essentially the annual process.
In Elsie, located in Gratiot County, Michigan, the effective property tax rate is 0.45%. This rate is significantly lower than the national median property tax rate of 1.02%. Compared to other cities in Michigan, Elsie's rate is also more favorable, aligning with the lowest rates in the state. This can result in considerable savings for property owners in the area.
Understanding these rates can be crucial for homeowners and potential buyers when considering property investments. Lower tax rates can enhance the affordability of owning property, making Elsie an attractive option for those looking to minimize their tax burden while enjoying the benefits of property ownership.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Elsie Tax Rate
0.87%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Gratiot County Tax Rate
1.13%
Median Effective Michigan Tax Rate
1.05%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Elsie, Gratiot County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48831 | 0.45% | 0.73% | 0.87% | 0.95% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Elsie, Gratiot County, Michigan
When examining property taxes in Elsie, Michigan, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Gratiot County Equalization Department estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices:
In Gratiot County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Elsie.
For example, the median home price in Elsie is $138,600, with tax bills ranging significantly across the county. 48831 has the highest median home price at $138,600.
Property Tax Assessment Values Across Elsie, Gratiot County, Michigan
Source: Ownwell
$64,500
$134,300
$204,100
Median Elsie Market Value
$198,000
Median Gratiot County Market Value
$138,800
Median Michigan Market Value
$213,740
Median United States Market Value
$235,294
Property Tax Assessment Values Across Elsie, Gratiot County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48831 | $132,800 | $147,600 | $198,000 | $214,800 | $274,800 |
Source: Ownwell
Property Tax Bills Across Elsie, Gratiot County, Michigan
In Elsie, Gratiot County, 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 market value. The median property tax bill in Elsie is $612, significantly lower than the national median of $2,400. Homeowners in Elsie can expect to pay a tax bill that falls between the 25th percentile of $579 and the 90th percentile of $886, depending on various factors such as property size, location, and market conditions. These factors can significantly impact the overall tax burden on homeowners.
For those looking to reduce their property tax bills, Ownwell offers expert property tax appeal and exemption services. By analyzing your property's assessed value and comparing it with similar properties, Ownwell can identify discrepancies and help secure potential savings. This service ensures that homeowners are not overpaying and can benefit from a more accurate and fair property tax bill.
Median Elsie Tax Bill
$1,586
Median Gratiot County Tax Bill
$1,566
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across Elsie, Gratiot County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48831 | $505 | $1,001 | $1,586 | $2,030 | $2,584 |
Source: Ownwell