49040 Property Tax Rate

Property owners in ZIP code 49040 (Colon, Michigan) pay a median of $1,594/year in property taxes on homes valued at $123,800. This translates to an effective tax rate of 1.29%, which is 5% above the Michigan state average of 1.22%.

The monthly property tax burden for a median-valued home in 49040 is approximately $133, which factors into escrow payments on mortgages. This ZIP code is located within St. Joseph County. This is $832 less than the Michigan average of $2,426/year.

Compared to similar ZIP codes in Michigan, 49040 has lower property taxes. ZIP codes with similar effective rates include 48003 (1.29%) and 48047 (1.29%).

In Colon, property taxes represent approximately 2.7% of the median household income of $58,693, providing context for the relative tax burden on homeowners in this area.

Proposal A reassesses your home to full market value upon purchase, eliminating the prior owner's capped growth in St. Joseph County. File the Principle Residence Exemption (PRE) with the St. Joseph County Assessor within 45 days of closing to reduce school operating tax obligations significantly. Contact the St. Joseph County Assessor to confirm your PRE filing deadline and exemption details.