Fairview, Michigan Property Taxes
The median property tax rate in Fairview, MI is 0.45%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $97,200 in Fairview, the typical annual property tax bill is $437, well below the national median of $2,690. Property taxes in Fairview are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Fairview'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 Fairview or another part of Oscoda County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fairview, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$437
Ownwell’s Fairview Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairview with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairview 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 Fairview, Michigan
Property taxes in Fairview, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairview is 0.45%, lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Fairview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairview 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 Fairview's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48621 zip code has the highest median property tax rate of 0.45%, while the 48621 zip code also has the lowest median tax rate of 0.45%. Understanding how these cities compare with Fairview provides valuable insights into the varying tax landscape across Oscoda County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fairview Tax Rate
0.45%
Average Oscoda County Tax Rate
0.74%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairview, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48621 | 0.34% | 0.39% | 0.45% | 0.51% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Fairview, Michigan
In Fairview, 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 Oscoda 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 Fairview, 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 Fairview helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 48621 has the highest median tax bill at $437, which is also the lowest median tax bill in the area, reflecting the uniformity in property tax assessments within Fairview.
Average Fairview Assessed Value
$97,200
Average Oscoda County Assessed Value
$55,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fairview, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48621 | $21,280 | $58,000 | $97,200 | $160,800 | $217,120 |
Source: Ownwell
Property Tax Bills Across Fairview, Michigan
In Fairview, Oscoda County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For example, with a median home price of $97,200, the assessed value is determined by local tax authorities. The tax rate is then applied to this assessed value to calculate the annual property tax bill. Various factors influence this calculation, including property size, location, and improvements. Homeowners in Fairview can expect tax bills to vary significantly. The 25th percentile tax bill is around $268, while the 75th percentile tax bill reaches $707. For those in the 90th percentile, the tax bill can be as high as $1,060. These figures show a range of property tax burdens, reflecting differences in property values and assessments within the area. Compared to the national median property tax rate of 0.99%, Fairview's property taxes can be relatively modest, making it an attractive location for homeowners seeking affordability.
Average Fairview Tax Bill
$437
Average Oscoda County Tax Bill
$412
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairview, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48621 | $124 | $268 | $437 | $707 | $1,060 |
Source: Ownwell