Hanover, Jackson County, Michigan Property Taxes
Median Hanover, MI effective property tax rate: 0.37%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Hanover, MI home value: $166,000
Median annual Hanover, MI tax bill: $607, $1,793 lower than the national median property tax bill of $2,400.
How are property taxes in Jackson 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, Jackson County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.37%
Estimate Property Tax Bill
$614
$570
Property Tax Rates Across Hanover, Jackson County, Michigan
Local government entities determine tax rates, and these can differ significantly within a state. Annually, each county calculates its necessary budget to maintain services and divides this by the total assessed value of all taxable property within its borders. This process establishes the property tax rate. Although votes and legislation play roles in setting these rates and budgets, this is the core of the annual procedure.
In Hanover, located in Jackson County, Michigan, the effective property tax rate is markedly lower than both the state and national medians. Michigan's median property tax rate stands at 1.44%, which is above the national median of 1.02%. This places Hanover in a favorable position for property owners compared to other cities in Michigan and across the U.S.
When considering property taxes, Hanover offers a competitive advantage. Lower property tax rates can result in significant savings for homeowners, making it an attractive location for those looking to minimize their annual property tax bills. This can be a compelling factor for prospective buyers or current residents evaluating their financial commitments.
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
0.37%
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 Jackson County Tax Rate
0.86%
Median Effective Michigan Tax Rate
1.07%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Hanover, Jackson County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49241 | 0.26% | 0.31% | 0.37% | 0.42% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Hanover, Jackson County, Michigan
When examining property taxes in Hanover, MI, 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 Jackson 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.
In Jackson 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 $166,000, with tax bills ranging significantly across the county. Zip code 49241 has the highest median home price at $166,000.
Property Tax Assessment Values Across Hanover, Jackson County, Michigan
Source: Ownwell
$89,400
$202,950
$316,500
Median Hanover Market Value
$166,000
Median Jackson County Market Value
$149,600
Median Michigan Market Value
$177,800
Median United States Market Value
$235,294
Property Tax Assessment Values Across Hanover, Jackson County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49241 | $75,000 | $113,600 | $166,000 | $249,200 | $348,600 |
Source: Ownwell
Property Tax Bills Across Hanover, Jackson County, Michigan
In Hanover, Michigan, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The assessed value is a percentage of the market value, and this figure is then multiplied by the local tax rate to determine the tax bill. With a median home price of $166,000, homeowners in Hanover can expect a range of tax bills. The 25th percentile tax bill is approximately $383, while the 75th percentile reaches up to $925, and the 90th percentile is about $1,343. These figures are significantly lower than the national median property tax bill of $2,400, offering some relief to Hanover homeowners.
However, property taxes can still be a substantial financial burden. This is where Ownwell can assist homeowners by providing property tax appeal and exemption services. By leveraging their expertise, Ownwell helps homeowners ensure their property is assessed fairly, potentially lowering their tax bills and offering significant savings.
Median Hanover Tax Bill
$607
Median Jackson County Tax Bill
$1,283
Median Michigan Tax Bill
$1,795
Median United States Tax Bill
$2,400
Property Tax Bills Across Hanover, Jackson County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49241 | $236 | $383 | $607 | $925 | $1,343 |
Source: Ownwell