49655 Property Tax Rate

Property owners in ZIP code 49655 (Leroy, Michigan) pay a median of $1,632/year in property taxes on homes valued at $171,800. This translates to an effective tax rate of 0.95%, which is 22% below the Michigan state average of 1.22%.

The monthly property tax burden for a median-valued home in 49655 is approximately $136, which factors into escrow payments on mortgages. This ZIP code is located within Osceola County. This is $794 less than the Michigan average of $2,426/year.

Compared to similar ZIP codes in Michigan, 49655 has lower property taxes. ZIP codes with similar effective rates include 49971 (0.95%) and 48450 (0.95%).

In Leroy, property taxes represent approximately 2.4% of the median household income of $67,375, providing context for the relative tax burden on homeowners in this area.

Michigan's Proposal A reassesses property to market value at sale, eliminating the capped-growth benefit the prior owner had. The Principle Residence Exemption (PRE) exempts owner-occupied primary residences from school operating taxes — submit your application to the Osceola County Assessor by March 1 of the following year. File your PRE claim with the Osceola County Assessor within 60 days of closing to activate the exemption and reduce your school taxes.