Bancroft, Shiawassee County, Michigan Property Taxes

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

Median Bancroft, MI effective property tax rate: 0.98%, slightly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Bancroft, MI home value: $156,400
Median annual Bancroft, MI tax bill: $1,533, $867 lower than the national median property tax bill of $2,400.

How are property taxes in Shiawassee calculated?

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

Last Updated March 1, 2025

Bancroft, Shiawassee County, Michigan Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.98%

Estimate Property Tax Bill

$1,533

$1,422

Ownwell’s Bancroft Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bancroft with just two data points. By entering your property's estimated assessed value, our calculator applies Bancroft’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 Shiawassee County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Bancroft, Shiawassee County, Michigan

Local government entities set tax rates, which can vary widely within a state. This variation is due to the annual process where each county estimates its required budget to provide essential services 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 play a role in setting tax rates and budgets, this is the crux of the annual procedure.

In Bancroft, located in Shiawassee County, the effective property tax rate stands at 0.98%. This rate is in line with the median property tax rate for Michigan, which is also 0.98%. Compared to the national median property tax rate of 1.02%, Bancroft's rate is slightly lower, making it relatively favorable for property owners. This can be an attractive factor for those considering moving to or investing in the area. Understanding these rates can help property owners make informed decisions about their investments and financial planning.

Property Tax Rates Across Bancroft, Shiawassee County, Michigan

Source: Ownwell

0.82%

1.16%

1.49%

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 Bancroft Tax Rate

0.98%

Median Effective Shiawassee County Tax Rate

1.23%

Median Effective Michigan Tax Rate

1.07%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Bancroft, Shiawassee County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
48414	0.75%	0.84%	0.98%	1.23%	1.77%

Source: Ownwell

Property Tax Assessment Values Across Bancroft, Shiawassee County, Michigan

When examining property taxes in Bancroft, 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 Shiawassee 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 Shiawassee 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 Bancroft. For example, the median home price in Bancroft is $156,400, with tax bills ranging significantly across the county. Zip code 48414 has the highest median home price at $156,400.

Property Tax Assessment Values Across Bancroft, Shiawassee County, Michigan

Source: Ownwell

$120,400

$173,850

$227,300

Median Bancroft Market Value

$156,400

Median Shiawassee County Market Value

$142,800

Median Michigan Market Value

$177,800

Median United States Market Value

$235,294

Property Tax Assessment Values Across Bancroft, Shiawassee County, Michigan

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
48414	$23,400	$99,400	$156,400	$214,400	$272,000

Source: Ownwell

Property Tax Bills Across Bancroft, Shiawassee County, Michigan

Property tax bills in Bancroft, located in Shiawassee County, MI, are determined based on the assessed value of a home. The assessed value is a percentage of the property's market value, which is then multiplied by the local tax rate to calculate the annual tax bill. With a median home price of $156,400, homeowners in Bancroft face varying tax bills. The 25th percentile tax bill is $918, while the 75th percentile reaches $2,083, and the 90th percentile can be as high as $2,721. These figures show significant variations compared to the national median property tax bill of $2,400. For homeowners, these taxes can represent a substantial financial obligation. Ownwell offers expertise in property tax appeals and exemptions, helping homeowners potentially reduce their tax liabilities. By analyzing property assessments and identifying opportunities for adjustments, Ownwell can assist in ensuring that homeowners are not overpaying on their property taxes, ultimately leading to cost savings and financial relief.

Property Tax Bills Across Bancroft, Shiawassee County, Michigan

Source: Ownwell

$1,300

$2,037

$2,773

Median Bancroft Tax Bill

$1,533

Median Shiawassee County Tax Bill

$1,816

Median Michigan Tax Bill

$1,795

Median United States Tax Bill

$2,400

Property Tax Bills Across Bancroft, Shiawassee County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
48414	$415	$918	$1,533	$2,083	$2,721

Source: Ownwell