Freeland, Michigan Property Taxes
The median property tax rate in Freeland, MI is 0.70%, which is notably lower than both the national median of 0.99% and Michigan's state median of 1.07%. With a median home value of $62,200 in Freeland, the typical annual property tax bill amounts to $438, significantly below the national median of $2,690. Property taxes in Freeland 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 Freeland'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 Freeland or another part of the city, grasping 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
0.7%
Estimate Property Tax Bill
$435
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 1.47%, 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 1.47%, while the same 48623 zip code also has the lowest median tax rate of 1.47%. Understanding how these cities compare with Freeland provides valuable insights into the varying tax landscape across Saginaw, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Freeland Tax Rate
0.70%
Average Roscommon County Tax Rate
0.50%
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 | 0.70% | 0.70% | 0.70% | 0.70% | 0.70% |
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 Roscommon County Assessor 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. For instance, the median home price in Freeland is $62,200, with the median tax bill around $438. 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 Freeland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Freeland Assessed Value
$62,200
Average Roscommon County Assessed Value
$114,800
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 | $62,200 | $62,200 | $62,200 | $62,200 | $62,200 |
Source: Ownwell
Property Tax Bills Across Freeland, Michigan
In Freeland, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is typically a percentage of the property's market value. For instance, if the median home price in Freeland is $62,200, the assessed value would be a fraction of this amount. The local tax rate is then applied to this assessed value to determine the annual property tax bill. In Freeland, the median property tax bill is $438, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax bill can be attributed to the lower median home prices in the area. Factors such as property size, location, and any applicable exemptions or deductions also play a role in determining the final tax bill. For homeowners, this means a more manageable annual expense, making Freeland an attractive option for those looking to minimize their property tax burden.
Average Freeland Tax Bill
$438
Average Roscommon County Tax Bill
$649
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 | $438 | $438 | $438 | $438 | $438 |
Source: Ownwell