Luzerne, Michigan Property Taxes
The median property tax rate in Luzerne, MI is 1.07%, aligning with the state median but still higher than the national median of 0.99%. With a median home value of $52,400 in Luzerne, the typical annual property tax bill is $451, which is significantly lower than the national median of $2,690. Property taxes in Luzerne are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Luzerne'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 Luzerne or elsewhere in the area, a thorough grasp of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Luzerne, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$561
Ownwell’s Luzerne Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Luzerne with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Luzerne 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 Luzerne, Michigan
Property taxes in Luzerne, Michigan, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Luzerne is 1.25%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Luzerne set these rates annually, and they can vary considerably across different neighborhoods. Each year, Luzerne 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 Luzerne's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48636 zip code has the highest median property tax rate of 1.54%, while the 48636 zip code also has the lowest median tax rate of 1.54%. Understanding how these cities compare with Luzerne 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 Luzerne Tax Rate
1.07%
Average Oscoda County Tax Rate
0.74%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Luzerne, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48636 | 0.49% | 0.60% | 1.07% | 1.37% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Luzerne, Michigan
In Luzerne, 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 Luzerne, 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 instance, the median home price in Luzerne is $52,400, with tax bills ranging from $230 at the 25th percentile to $1,445 at the 90th percentile. The zip code 48636 has the highest and lowest median tax bill at $451. Being aware of these valuation processes in Luzerne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Luzerne Assessed Value
$52,400
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 Luzerne, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48636 | $7,000 | $24,500 | $52,400 | $97,300 | $161,800 |
Source: Ownwell
Property Tax Bills Across Luzerne, Michigan
In Luzerne, located in Oscoda County, MI, property tax bills are calculated based on the assessed value of the property. The assessed value is typically a percentage of the market value, determined by local tax assessors. For a median home price of $52,400, tax bills can vary significantly. At the 25th percentile, homeowners might see a tax bill around $230, while at the 75th percentile, it can rise to approximately $831. For those at the 90th percentile, the tax bill can reach up to $1,445. These tax bills are influenced by various factors, including property improvements, neighborhood trends, and local government budgets. The highest and lowest median tax bills in the region stand at $451, which is relatively modest compared to the national median property tax rate of 0.99%. This means that homeowners in Luzerne may experience a lighter tax burden, potentially making it a more affordable place to live. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Luzerne Tax Bill
$451
Average Oscoda County Tax Bill
$412
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Luzerne, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48636 | $77 | $230 | $451 | $831 | $1,445 |
Source: Ownwell