Brutus, Michigan Property Taxes
The median property tax rate in Brutus, MI is 0.83%, considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Brutus, the typical annual property tax bill reaches $3,785, exceeding the national median of $2,690. Property taxes in Brutus are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Brutus'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 Brutus or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brutus, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$4,983
Ownwell’s Brutus Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brutus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brutus to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Brutus, Michigan
Property taxes in Brutus, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brutus is 0.83%, lower than the U.S. national median of 0.99%. Local government entities within Brutus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brutus 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 Brutus's effective property tax rate to other areas in Michigan and the national median. For comparison, the 49716 zip code has the highest median property tax rate of 0.83%, while the same zip code also has the lowest median tax rate of 0.83%. Understanding how these areas compare with Brutus provides valuable insights into the varying tax landscape across Cheboygan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brutus Tax Rate
0.83%
Average Cheboygan County Tax Rate
0.50%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brutus, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49716 | 0.36% | 0.44% | 0.83% | 1.10% | 1.29% |
Source: Ownwell
Property Tax Assessment Values Across Brutus, Michigan
In Brutus, 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 Cheboygan 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 Brutus, 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 Brutus helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 49716 has the highest median tax bill at $3,785, while the lowest median tax bill is also in the same zip code.
Average Brutus Assessed Value
$600,400
Average Cheboygan County Assessed Value
$151,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brutus, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49716 | $79,320 | $218,750 | $600,400 | $881,050 | $1,254,180 |
Source: Ownwell
Property Tax Bills Across Brutus, Michigan
In Brutus, property tax bills are calculated based on the assessed value of a home, which is determined by the Cheboygan County assessor. The assessed value is typically a percentage of the property's market value. The local tax rate is then applied to this assessed value to determine the tax bill. For example, with a median home price of $600,400, the tax bill can vary significantly. Homeowners in the 25th percentile pay around $1,354, while those in the 75th percentile face bills as high as $7,415. At the 90th percentile, the tax bill can reach up to $10,602. These figures illustrate the wide range of property tax burdens within the area, influenced by factors such as property size, location, and any applicable exemptions. The highest and lowest median tax bills in Brutus are both $3,785, highlighting some consistency despite the variations. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Brutus Tax Bill
$3,785
Average Cheboygan County Tax Bill
$843
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Brutus, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49716 | $543 | $1,354 | $3,785 | $7,415 | $10,602 |
Source: Ownwell