Rockwood, Wayne County, Michigan Property Taxes
Median Rockwood, MI effective property tax rate: 1.08%, slightly higher than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Rockwood, MI home value: $225,400
Median annual Rockwood, MI tax bill: $2,523, $123 higher than the national median property tax bill of $2,400.
How are property taxes in Wayne County calculated?
Property taxes in Rockwood, 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 Rockwood’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Rockwood, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Rockwood, Wayne County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.08%
Estimate Property Tax Bill
$2,434
$2,259
Property Tax Rates Across Rockwood, Wayne County, Michigan
Local government entities are responsible for setting property tax rates, which can vary significantly within a state. Each county, including Wayne County, annually estimates the budget needed to provide essential services and divides this by the total value of all taxable properties within its jurisdiction. This calculation determines the property tax rate. While the process involves votes and laws, this is the fundamental method used each year.
In Rockwood, located in Wayne County, the effective property tax rate stands at 1.08%, which is slightly above the national median of 1.02%. This rate is consistent across the area, reflecting the county's approach to property taxation. When compared to other cities in Michigan, Rockwood's tax rate is aligned with the state's median, offering a predictable tax environment for property owners. While the national median property tax bill is $2,400, understanding local rates is crucial for homeowners seeking to manage their expenses effectively. By comparing Rockwood’s effective property tax rate to other cities in Michigan and the national median, property owners can make informed decisions about their tax obligations.
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 Rockwood Tax Rate
1.08%
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 Rockwood, Wayne County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48173 | 0.76% | 0.86% | 1.08% | 1.29% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Rockwood, Wayne County, Michigan
When examining property taxes in Rockwood, 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 Rockwood. For example, the median home price in Rockwood is $225,400, with tax bills ranging significantly across the county. Zip code 48173 has the highest median home price at $225,400.
Property Tax Assessment Values Across Rockwood, Wayne County, Michigan
Source: Ownwell
$26,200
$320,700
$615,200
Median Rockwood Market Value
$225,400
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 Rockwood, Wayne County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48173 | $128,480 | $160,400 | $225,400 | $320,600 | $358,720 |
Source: Ownwell
Property Tax Bills Across Rockwood, Wayne County, Michigan
In Rockwood, located in Wayne County, MI, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. Homeowners in this area face a median property tax bill of $2,523, slightly above the national median of $2,400. This tax rate reflects the local government's need to fund essential services such as schools, infrastructure, and public safety. Factors such as changes in property value and local tax levies can influence the final bill. Higher property values typically lead to higher tax bills, which can impact homeowners' budgets significantly.
Ownwell offers a solution for homeowners aiming to reduce their property tax bills. By leveraging expertise in property tax appeals, Ownwell can identify potential discrepancies in assessed values and guide homeowners through the appeal process. This can result in significant savings, ensuring that homeowners pay only their fair share. With Ownwell's assistance, navigating the complex property tax landscape becomes more manageable, potentially leading to reduced financial burdens for homeowners.
Median Rockwood Tax Bill
$2,523
Median Wayne County Tax Bill
$1,625
Median Michigan Tax Bill
$1,795
Median United States Tax Bill
$2,400
Property Tax Bills Across Rockwood, Wayne County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48173 | $1,256 | $1,880 | $2,523 | $3,234 | $4,022 |
Source: Ownwell