Holton, Michigan Property Taxes
The median property tax rate in Holton, MI is 0.37%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $166,600 in Holton, the typical annual property tax bill amounts to $635, which is well below the national median of $2,690. Property taxes in Holton are based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. By understanding Holton's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you reside in Holton or another part of Newaygo County, gaining insight into the local property tax structure is crucial for maximizing financial benefits.
Last Updated June 14, 2024
Holton, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.37%
Estimate Property Tax Bill
$616
Ownwell’s Holton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holton 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 Holton, Michigan
Property taxes in Holton, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holton is 1.35%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Holton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holton 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 Holton's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49457 zip code has the highest median property tax rate of 2.01%, while the 49412 zip code has the lowest median tax rate of 1.05%. Understanding how these cities compare with Holton provides valuable insights into the varying tax landscape across Newaygo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Holton Tax Rate
0.37%
Average Newaygo County Tax Rate
0.43%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49425 | 0.29% | 0.33% | 0.37% | 0.45% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Holton, Michigan
In Holton, 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 Newaygo 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 Holton, 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 Holton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Holton are both $635, found in the 49425 zip code.
Average Holton Assessed Value
$166,600
Average Newaygo County Assessed Value
$143,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Holton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49425 | $83,560 | $120,600 | $166,600 | $259,600 | $325,640 |
Source: Ownwell
Property Tax Bills Across Holton, Michigan
In Holton, property tax bills are calculated based on the assessed value of a home, which is determined by the Newaygo County tax assessor. The assessed value typically reflects a percentage of the market value of the property. For example, with a median home price of $166,600, the tax bill can vary significantly. Factors such as the property's location within the county, any applicable exemptions, and the specific tax rate applied by local authorities all play a role in determining the final bill. Homeowners in Holton can expect their tax bills to range widely. At the 25th percentile, the tax bill is around $430, while at the 75th percentile, it reaches approximately $982. The tax bill at the 90th percentile can go up to $1,315. These variations highlight how different factors can influence the final amount due. Comparatively, the highest and lowest median tax bills in the area are both $635, indicating some consistency across different properties. This system ensures that property taxes are fairly distributed, impacting homeowners based on their property's assessed value.
Average Holton Tax Bill
$635
Average Newaygo County Tax Bill
$667
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Holton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49425 | $293 | $430 | $635 | $982 | $1,315 |
Source: Ownwell