Freeland, Michigan Property Taxes
The median property tax rate in Freeland, MI is 0.42%, significantly lower than both the national median of 0.99% and Michigan's state median of 1.07%. With the median home value in Freeland at $157,000, the typical annual property tax bill amounts to $689, which is well below the national median of $2,690. Property taxes in Freeland are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Freeland's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Freeland or another part of Midland County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Freeland, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$659
Ownwell’s Freeland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Freeland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Freeland 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 Freeland, Michigan
Property taxes in Freeland, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Freeland is 1.54%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Freeland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Freeland 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 Freeland's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48623 zip code has the highest median property tax rate of 1.54%, while the 48623 zip code also has the lowest median tax rate of 1.54%. Understanding how these areas compare with Freeland provides valuable insights into the varying tax landscape across Midland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Freeland Tax Rate
0.42%
Average Midland County Tax Rate
0.54%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Freeland, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48623 | 0.35% | 0.39% | 0.42% | 0.46% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Freeland, Michigan
In Freeland, 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 Midland 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 Freeland, 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. For example, the highest median tax bill in Freeland is $689.00 in the 48623 zip code, while the lowest median tax bill is also $689.00 in the same zip code. Being aware of these valuation processes in Freeland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Freeland Assessed Value
$157,000
Average Midland County Assessed Value
$158,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Freeland, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48623 | $77,200 | $118,400 | $157,000 | $214,200 | $337,600 |
Source: Ownwell
Property Tax Bills Across Freeland, Michigan
In Freeland, property tax bills are calculated based on the assessed value of a home, which is determined by the Midland County assessor. The assessed value is a percentage of the market value of the property. For instance, with a median home price of $157,000, the assessed value forms the basis for calculating the tax bill. The property tax rate in Freeland is applied to this assessed value to determine the annual tax owed. Several factors influence the assessed value, including the property's location, size, and condition. Homeowners in Freeland can expect tax bills to vary widely. For example, the 25th percentile tax bill is approximately $490, while the 75th percentile tax bill reaches around $972. At the higher end, the 90th percentile tax bill can be as much as $1,492. These tax bills impact homeowners by contributing to the overall cost of owning a home in Freeland. Understanding how these factors come together helps homeowners anticipate their annual expenses and plan their finances accordingly.
Average Freeland Tax Bill
$689
Average Midland County Tax Bill
$1,273
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Freeland, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48623 | $303 | $490 | $689 | $972 | $1,492 |
Source: Ownwell