Ossineke, Michigan Property Taxes
The median property tax rate in Ossineke, MI is 0.42%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Ossineke at $123,200, the typical annual property tax bill amounts to $518, well below the national median of $2,690. Property taxes in Ossineke are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ossineke's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Ossineke or another part of Alpena County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ossineke, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$517
Ownwell’s Ossineke Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Ossineke with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Ossineke to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in seeing trends on a neighborhood level, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Ossineke, Michigan
Property taxes in Ossineke, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ossineke is 0.42%, significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Ossineke set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ossineke estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Ossineke's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49766 has both the highest and the lowest median property tax rate of 0.42%. Understanding how these cities compare with Ossineke provides valuable insights into the varying tax landscape across Alpena County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ossineke Tax Rate
0.42%
Average Alpena County Tax Rate
0.46%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ossineke, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49766 | 0.35% | 0.38% | 0.42% | 0.47% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Ossineke, Michigan
In Ossineke, Michigan, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Alpena County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Ossineke, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Ossineke helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Ossineke are both $518, found in zip code 49766.
Average Ossineke Assessed Value
$123,200
Average Alpena County Assessed Value
$107,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ossineke, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49766 | $50,200 | $79,900 | $123,200 | $187,800 | $290,000 |
Source: Ownwell
Property Tax Bills Across Ossineke, Michigan
Property tax bills in Ossineke, located in Alpena County, MI, are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in this area stands at $123,200. The tax rate is applied to this assessed value to determine the annual tax bill. For homeowners in Ossineke, the tax bill can vary significantly. The 25th percentile tax bill is $342, while the 75th percentile reaches $802, and the 90th percentile climbs to $1,299. Several factors influence the property tax bill, including changes in the local tax rate, property assessments, and any applicable exemptions or deductions. The highest and lowest median tax bills in the region are both $518, specifically in the 49766 zip code. Compared to the national median property tax rate of 0.99%, Ossineke's property taxes can be seen as relatively moderate, making it an appealing location for homeowners seeking manageable property tax expenses.
Average Ossineke Tax Bill
$518
Average Alpena County Tax Bill
$661
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Ossineke, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49766 | $204 | $342 | $518 | $802 | $1,299 |
Source: Ownwell