Leroy, Osceola County, Michigan Property Taxes
Median Leroy, MI effective property tax rate: 1.32%, significantly higher than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Leroy, MI home value: $101,900
Median annual Leroy, MI tax bill: $1,253, $1,147 lower than the national median property tax bill of $2,400.
How are property taxes in Osceola calculated?
Property taxes in Leroy, 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 Leroy’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Leroy, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Leroy, Osceola County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.32%
Estimate Property Tax Bill
$1,345
$1,248
Ownwell’s Leroy Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Leroy with just two data points.
By entering your property's estimated assessed value, our calculator applies Leroy’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 Osceola County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Leroy, Osceola County, Michigan
Local government entities set tax rates, which can vary widely within a state. This variation is primarily because each county estimates its required budget to provide services annually and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws are involved in setting tax rates and budgets, this is the annual process in a nutshell.
In Leroy, located in Osceola County, Michigan, the effective property tax rate is a significant point of interest. When compared to other cities in Michigan, Leroy's tax rate reflects the county's budgetary needs and property values. The median property tax rate in Michigan is notably higher than the national median of 1.02%, making it crucial for property owners to understand how these rates affect their tax bills. The national median property tax bill stands at $2,400, providing a benchmark for comparison. Understanding these rates can empower property owners to make informed decisions about their tax obligations and potential appeals.
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 Leroy Tax Rate
1.32%
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 Osceola County Tax Rate
1.27%
Median Effective Michigan Tax Rate
1.07%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Leroy, Osceola County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49655 | 0.82% | 1.03% | 1.32% | 1.80% | 2.24% |
Source: Ownwell
Property Tax Assessment Values Across Leroy, Osceola County, Michigan
When examining property taxes in Leroy, 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 Osceola 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.
In Osceola 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 Leroy.
For example, the median home price in Leroy is $101,900, with tax bills ranging significantly across the county. Zip code 49655 has the highest median home price at $101,900.
Property Tax Assessment Values Across Leroy, Osceola County, Michigan
Source: Ownwell
$98,800
$112,550
$126,300
Median Leroy Market Value
$101,900
Median Osceola County Market Value
$109,600
Median Michigan Market Value
$177,800
Median United States Market Value
$235,294
Property Tax Assessment Values Across Leroy, Osceola County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49655 | $18,920 | $42,850 | $101,900 | $173,150 | $258,600 |
Source: Ownwell
Property Tax Bills Across Leroy, Osceola County, Michigan
In Leroy, located in Osceola County, MI, property tax bills are determined by assessing the property's market value and applying the local tax rate. Homeowners in this area experience a range of tax bills, with the 25th percentile at $612 and the 75th percentile reaching $2,193, reflecting the variation in property values and tax rates. The highest and lowest median tax bills in the region are both recorded at $1,253 in the 49655 zip code. Compared to the national median property tax bill of $2,400, Leroy's taxes present a potential area for savings.
Factors influencing the tax bill include property improvements, neighborhood developments, and changes in local government budgets, which can significantly affect homeowners' financial responsibilities. Ownwell assists homeowners by offering expert property tax appeal and exemption services, potentially reducing their tax burden. By analyzing property assessments and identifying discrepancies, Ownwell helps ensure that homeowners in Leroy pay only their fair share, often leading to substantial savings on their property tax bills.
Median Leroy Tax Bill
$1,253
Median Osceola County Tax Bill
$1,382
Median Michigan Tax Bill
$1,795
Median United States Tax Bill
$2,400
Property Tax Bills Across Leroy, Osceola County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49655 | $274 | $612 | $1,253 | $2,193 | $3,588 |
Source: Ownwell