Grosse Pointe Woods, Wayne County, Michigan Property Taxes
Median Grosse Pointe Woods, MI effective property tax rate: 1.23%, significantly higher than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Grosse Pointe Woods, MI home value: $266,000
Median annual Grosse Pointe Woods, MI tax bill: $3,553, $1,153 higher than the national median property tax bill of $2,400.
How are property taxes in Wayne County calculated?
Property taxes in Grosse Pointe Woods, 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 Grosse Pointe Woods’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Grosse Pointe Woods, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Grosse Pointe Woods, Wayne County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.23%
Estimate Property Tax Bill
$3,272
$3,036
Property Tax Rates Across Grosse Pointe Woods, Wayne County, Michigan
Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
In Grosse Pointe Woods, Wayne County, the effective property tax rate stands out when compared to other cities in Michigan and the national average. With a median tax rate of 1.23%, it is higher than the national median of 1.02%. This rate reflects the county's budgetary needs and the value of taxable property within its jurisdiction. For homeowners, this means a property tax bill that can exceed the national median of $2400, depending on the assessed value of their property. Understanding these rates is crucial for property owners looking to manage their expenses effectively.
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 Grosse Pointe Woods Tax Rate
1.23%
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 Wayne County Tax Rate
1.44%
Median Effective Michigan Tax Rate
1.07%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Grosse Pointe Woods, Wayne County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48236 | 0.98% | 1.10% | 1.23% | 1.64% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Grosse Pointe Woods, Wayne County, Michigan
When examining property taxes in Grosse Pointe Woods, 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 Wayne 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 Wayne 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 Grosse Pointe Woods. For example, the median home price in Grosse Pointe Woods is $266,000, with tax bills ranging significantly across the county. Zip code 48236 has the highest median home price at $266,000.
Property Tax Assessment Values Across Grosse Pointe Woods, Wayne County, Michigan
Source: Ownwell
$26,200
$320,700
$615,200
Median Grosse Pointe Woods Market Value
$266,000
Median Wayne County Market Value
$126,800
Median Michigan Market Value
$177,800
Median United States Market Value
$235,294
Property Tax Assessment Values Across Grosse Pointe Woods, Wayne County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48236 | $172,240 | $205,400 | $266,000 | $352,500 | $440,000 |
Source: Ownwell
Property Tax Bills Across Grosse Pointe Woods, Wayne County, Michigan
In Grosse Pointe Woods, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. With a median home price of $266,000, homeowners in Grosse Pointe Woods experience a median tax bill of $3,553, which is significantly higher than the national median property tax bill of $2,400. Factors such as local tax rates and home values contribute to the higher tax bills in this area. For homeowners, this means a considerable portion of their housing expenses goes toward property taxes.
Ownwell offers expertise in property tax appeals and exemptions, helping homeowners potentially lower their tax bills. By analyzing property assessments and identifying discrepancies, Ownwell can assist in challenging over-assessments, ensuring homeowners in Grosse Pointe Woods pay only their fair share. This service can lead to substantial savings, alleviating the financial burden of high property taxes.
Property Tax Bills Across Grosse Pointe Woods, Wayne County, Michigan
Source: Ownwell
$632
$6,198
$11,764
Median Grosse Pointe Woods Tax Bill
$3,553
Median Wayne County Tax Bill
$1,625
Median Michigan Tax Bill
$1,795
Median United States Tax Bill
$2,400
Property Tax Bills Across Grosse Pointe Woods, Wayne County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48236 | $1,895 | $2,597 | $3,553 | $4,806 | $6,218 |
Source: Ownwell