Monroe, Monroe County, Michigan Property Taxes

Name: Property Tax Bills Across Monroe, Monroe County, Michigan
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Monroe, MI effective property tax rate: 1.40%, significantly higher than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Monroe, MI home value: $140,600
Median annual Monroe, MI tax bill: $2,117, $283 lower than the national median property tax bill of $2,400.

How are property taxes in Monroe calculated?

Property taxes in Monroe, 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 Monroe’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Monroe, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Monroe, Monroe County, Michigan Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.4%

Estimate Property Tax Bill

$1,968

$1,827

Ownwell’s Monroe Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Monroe with just two data points. By entering your property's estimated assessed value, our calculator applies Monroe’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Monroe County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Monroe, Monroe County, Michigan

Local government entities are responsible for setting property tax rates, and these rates can differ significantly across a state. Each year, counties estimate their necessary budget to maintain services and divide this by the total assessed value of all taxable properties within their area. This process determines the property tax rate. While voting and legislation play a role in setting these rates and budgets, this is essentially how it works annually.

In Monroe, Michigan, the effective property tax rate stands out when compared to other cities in the state. Monroe's rate is notably higher than the national median property tax rate of 1.02%, which results in a median property tax bill that exceeds the national median of $2400. This means property owners in Monroe are paying a higher percentage of their property's assessed value in taxes compared to many other parts of the country. Understanding these rates can be crucial for property owners looking to manage their expenses or appeal their property taxes.

Property Tax Rates Across Monroe, Monroe County, Michigan

Source: Ownwell

0.90%

1.25%

1.60%

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 Monroe Tax Rate

1.40%

Median Effective Monroe County Tax Rate

1.21%

Median Effective Michigan Tax Rate

1.07%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Monroe, Monroe County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
48162	1.00%	1.22%	1.50%	1.82%	2.19%
48161	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Monroe, Monroe County, Michigan

When examining property taxes in Monroe, 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 Monroe 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 Monroe County 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 Monroe. For example, the median home price in Monroe is $140,600, with tax bills ranging significantly across the county. Zip code 48162 has the highest median home price at $156,380.

Property Tax Assessment Values Across Monroe, Monroe County, Michigan

Source: Ownwell

$112,800

$175,400

$238,000

Median Monroe Market Value

$140,600

Median Monroe County Market Value

$165,800

Median Michigan Market Value

$177,800

Median United States Market Value

$235,294

Property Tax Assessment Values Across Monroe, Monroe County, Michigan

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
48162	$88,400	$119,400	$156,380	$216,000	$302,280
48161	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Monroe, Monroe County, Michigan

In Monroe, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's estimation of the property's market value. The tax rate is then applied to this assessed value to calculate the annual tax bill. Factors such as changes in market conditions and improvements to the property can influence the assessed value, affecting the homeowner's tax bill. With a median home price of $140,600, Monroe's property tax bills can vary significantly, ranging from $1,446 at the 25th percentile to $4,073 at the 90th percentile. The median tax bill in Monroe is $2,372, which is slightly below the national median of $2,400. However, for homeowners seeking to reduce their property tax burden, Ownwell offers valuable services. By providing expert property tax appeal and exemption services, Ownwell helps ensure that homeowners are not overpaying on their taxes. This assistance can lead to significant savings, offering peace of mind and financial relief.

Property Tax Bills Across Monroe, Monroe County, Michigan

Source: Ownwell

$1,658

$2,415

$3,172

Median Monroe Tax Bill

$2,117

Median Monroe County Tax Bill

$2,179

Median Michigan Tax Bill

$1,795

Median United States Tax Bill

$2,400

Property Tax Bills Across Monroe, Monroe County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
48162	$1,292	$1,743	$2,372	$3,223	$4,385
48161	N/A	N/A	N/A	N/A	N/A

Source: Ownwell