Hanover, Hillsdale County, Michigan Property Taxes
Median Hanover, MI effective property tax rate: 0.39%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Hanover, MI home value: $150,347
Median annual Hanover, MI tax bill: $597, $1,803 lower than the national median property tax bill of $2,400.
How are property taxes in Hillsdale calculated?
Property taxes in Hanover, 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 Hanover’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Hanover, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Hanover, Hillsdale County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.38%
Estimate Property Tax Bill
$752
$697
Property Tax Rates Across Hanover, Hillsdale County, Michigan
Local government entities are responsible for setting tax rates, and these can vary significantly within a state. Each year, counties estimate their budgetary needs to maintain services and then distribute these expenses across the total value of all taxable properties in the area. This calculation determines the property tax rate. While the process involves votes and legislation, this is the fundamental annual procedure.
In Hanover, located in Hillsdale County, Michigan, the effective property tax rate is a point of comparison with other cities in Michigan and across the United States. Michigan's median property tax rate is notably lower than the national median, offering residents a potential financial advantage. This lower rate can make Michigan an attractive option for property owners seeking to minimize their tax burden compared to the national average. However, it's essential to consider that lower tax rates might also reflect differences in the level of services provided by local governments. Understanding these dynamics can help property owners make informed decisions about their investments and potential savings in property taxes.
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 Hanover Tax Rate
0.38%
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 Hillsdale County Tax Rate
0.39%
Median Effective Michigan Tax Rate
1.05%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Hanover, Hillsdale County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49241 | 0.27% | 0.33% | 0.38% | 0.45% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Hanover, Hillsdale County, Michigan
When examining property taxes in Hanover, 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 Hillsdale County appraisal district 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 Hillsdale County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Hanover. For example, the median home price in Hanover is $150,347, with tax bills ranging significantly across the county. 49241 has the highest median home price at $150,347.
Property Tax Assessment Values Across Hanover, Hillsdale County, Michigan
Source: Ownwell
$84,707
$183,330
$281,952
Median Hanover Market Value
$197,766
Median Hillsdale County Market Value
$159,094
Median Michigan Market Value
$213,740
Median United States Market Value
$235,294
Property Tax Assessment Values Across Hanover, Hillsdale County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49241 | $46,209 | $73,933 | $197,766 | $327,119 | $481,812 |
Source: Ownwell
Property Tax Bills Across Hanover, Hillsdale County, Michigan
Median Hanover Tax Bill
$634
Median Hillsdale County Tax Bill
$734
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across Hanover, Hillsdale County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49241 | $154 | $296 | $634 | $1,152 | $2,145 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates |
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Links | |
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| Hillsdale Tax Assessor | |
| Website | app.fetchgis.com |