Bad Axe, Michigan Property Taxes
The median property tax rate in Bad Axe, MI is 1.27%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Bad Axe at $114,600, the typical annual property tax bill reaches $1,512, exceeding the national median of $2,690. Property taxes in Bad Axe 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 Bad Axe'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 Bad Axe 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
Bad Axe, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$1,455
Ownwell’s Bad Axe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bad Axe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bad Axe 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 Bad Axe, Michigan
Property taxes in Bad Axe, Michigan, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Bad Axe is 1.27%, which is significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Bad Axe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bad Axe 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 Bad Axe's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 48413 has the highest median property tax rate of 1.27%, while the same zip code also has the lowest median tax rate of 1.27%. Understanding how these cities compare with Bad Axe provides valuable insights into the varying tax landscape across Huron County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bad Axe Tax Rate
1.27%
Average Huron County Tax Rate
1.19%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bad Axe, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48413 | 0.82% | 0.99% | 1.27% | 1.63% | 2.04% |
Source: Ownwell
Property Tax Assessment Values Across Bad Axe, Michigan
In Bad Axe, 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 Huron County Assessor 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 Bad Axe, 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. For instance, the median home price in Bad Axe is $114,600, and the tax bills range from $1,106 at the 25th percentile to $2,806 at the 90th percentile. 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 Bad Axe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bad Axe Assessed Value
$114,600
Average Huron County Assessed Value
$119,000
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bad Axe, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48413 | $56,400 | $79,600 | $114,600 | $170,500 | $240,320 |
Source: Ownwell
Property Tax Bills Across Bad Axe, Michigan
In Bad Axe, 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 typically a percentage of the property's market value. For instance, if the median home price is $114,600, the assessment would be a fraction of this amount. The local tax rate is then applied to the assessed value to determine the annual property tax bill. Several factors influence the tax bill, including property location, home size, and any applicable exemptions. In Bad Axe, homeowners can expect to pay between $1,106 at the 25th percentile and $2,806 at the 90th percentile in property taxes annually. The median tax bill in the area is $1,512, which is higher than the national median property tax rate of 0.99%. These tax bills significantly impact homeowners by contributing to local services such as schools, infrastructure, and public safety. Understanding how these taxes are calculated helps homeowners anticipate their annual expenses and plan accordingly.
Average Bad Axe Tax Bill
$1,512
Average Huron County Tax Bill
$1,405
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Bad Axe, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48413 | $735 | $1,106 | $1,512 | $2,059 | $2,806 |
Source: Ownwell