Fenton, Michigan Property Taxes
The median property tax rate in Fenton, MI is 0.84%, which is lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $356,800 in Fenton, the typical annual property tax bill amounts to $3,002, surpassing the national median of $2,690. Property taxes in Fenton are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Fenton'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 Fenton or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fenton, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$2,997
Ownwell’s Fenton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fenton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fenton 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 Fenton, Michigan
Property taxes in Fenton, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fenton is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Fenton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fenton 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 Fenton's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48430 zip code has the highest median property tax rate of 0.84%, while the 48430 zip code also has the lowest median tax rate of 0.84%. Understanding how these cities compare with Fenton provides valuable insights into the varying tax landscape across Livingston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fenton Tax Rate
0.84%
Average Livingston County Tax Rate
0.91%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fenton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48430 | 0.65% | 0.74% | 0.84% | 0.99% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Fenton, Michigan
In Fenton, Michigan, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Livingston 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 Fenton, 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. Fenton's median home price stands at $356,800, with tax bills ranging from $2,179 at the 25th percentile to $5,785 at the 90th percentile. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these processes in Fenton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fenton Assessed Value
$356,800
Average Livingston County Assessed Value
$315,781
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fenton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48430 | $200,120 | $264,100 | $356,800 | $493,000 | $658,600 |
Source: Ownwell
Property Tax Bills Across Fenton, Michigan
In Fenton, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is typically a percentage of the property's market value. Homeowners in Fenton can expect to pay a property tax rate that contributes to local services like schools, infrastructure, and public safety. The median home price in Fenton is $356,800, and the property tax rate in Livingston County influences the overall tax bill. For instance, the 25th percentile tax bill is around $2,179, while the 75th percentile tax bill reaches approximately $4,355. At the 90th percentile, homeowners might see tax bills as high as $5,785. The highest median tax bill in the area is $3,002, noted in the 48430 zip code. Compared to the national median property tax rate of 0.99%, Fenton's rates reflect the local economy and community needs, directly impacting homeowners' annual financial obligations.
Average Fenton Tax Bill
$3,002
Average Livingston County Tax Bill
$2,949
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Fenton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48430 | $1,619 | $2,179 | $3,002 | $4,355 | $5,785 |
Source: Ownwell