Dodgeville, Michigan Property Taxes
The median property tax rate in Dodgeville, MI is 0.87%, lower than both the national median of 0.99% and Michigan's state median of 1.07%. With a median home value in Dodgeville of $79,520, the typical annual property tax bill is $674, significantly below the national median of $2,690. Property taxes in Dodgeville 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 Dodgeville'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 Dodgeville or another part of Houghton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dodgeville, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$692
Ownwell’s Dodgeville Property Tax Bill Calculator is a valuable resource for homeowners, real estate investors, and potential buyers aiming to estimate their annual property taxes in Dodgeville. By simply inputting your property's estimated assessed value, the calculator uses the median tax rate in Dodgeville to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, making financial planning easier. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by Houghton County, is crucial for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Dodgeville, Michigan
Property taxes in Dodgeville, Michigan, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Dodgeville is 0.87%, which is below the U.S. national median of 0.99%. Local government entities within Dodgeville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dodgeville 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 Dodgeville's effective property tax rate to other areas in Houghton County and the national median. For comparison, the 49921 zip code has the highest median property tax rate of 0.87%, while it also has the lowest median tax rate of 0.87%. Understanding how these cities compare with Dodgeville provides valuable insights into the varying tax landscape across Houghton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dodgeville Tax Rate
0.87%
Average Houghton County Tax Rate
0.94%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dodgeville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49921 | 0.47% | 0.62% | 0.87% | 1.07% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Dodgeville, Michigan
In Dodgeville, 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 Houghton 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 Dodgeville, 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 Dodgeville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $674 in zip code 49921.
Average Dodgeville Assessed Value
$79,520
Average Houghton County Assessed Value
$95,531
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dodgeville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49921 | $35,140 | $59,058 | $79,520 | $113,828 | $163,628 |
Source: Ownwell
Property Tax Bills Across Dodgeville, Michigan
In Dodgeville, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the assessed value, including the home's market value, location, and any improvements made to the property. For homeowners in Dodgeville, the median home price is $79,520. Property tax bills can vary significantly, with the 25th percentile tax bill at $403 and the 75th percentile tax bill at $1009. At the higher end, the 90th percentile tax bill reaches $1400. Compared to the national median property tax rate of 0.99%, homeowners in Dodgeville may find their tax bills relatively manageable, depending on their home's assessed value and the specific tax rate applied. Understanding these factors can help homeowners anticipate their annual property tax obligations and budget accordingly.
Average Dodgeville Tax Bill
$674
Average Houghton County Tax Bill
$879
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Dodgeville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49921 | $253 | $403 | $674 | $1,009 | $1,400 |
Source: Ownwell