Freeland, Michigan Property Taxes
The median property tax rate in Freeland, MI is 0.46%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Freeland at $222,400, the typical annual property tax bill is $1,005, which is well below the national median of $2,690. Property taxes in Freeland are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like 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 the city, understanding 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
0.46%
Estimate Property Tax Bill
$1,023
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, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Freeland is 0.46%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Freeland set these rates annually, and they can vary 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 both the highest and lowest median property tax rate at 0.46%. Understanding how these areas compare with Freeland provides valuable insights into the varying tax landscape across Saginaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Freeland Tax Rate
0.46%
Average Saginaw County Tax Rate
0.78%
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 | 0.37% | 0.43% | 0.46% | 0.49% | 0.53% |
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 Saginaw 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. Being aware of these valuation processes in Freeland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1005 in zip code 48623, while the lowest median tax bill is also $1005 in the same zip code.
Average Freeland Assessed Value
$222,400
Average Saginaw County Assessed Value
$119,800
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 | $110,460 | $151,200 | $222,400 | $307,250 | $417,600 |
Source: Ownwell
Property Tax Bills Across Freeland, Michigan
Property tax bills in Freeland, Saginaw County, MI, are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Freeland, the median home price is $222,400. The tax bills in this area vary significantly, with the 25th percentile paying around $669, while those in the 75th percentile face bills of approximately $1,438. At the higher end, the 90th percentile sees tax bills reaching up to $1,981. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Homeowners in Freeland should be aware of how these bills are calculated and the potential for variation based on assessed property values and the specific tax rates applied. Understanding these factors can help in financial planning and in making informed decisions about property investments.
Average Freeland Tax Bill
$1,005
Average Saginaw County Tax Bill
$894
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 | $457 | $669 | $1,005 | $1,438 | $1,981 |
Source: Ownwell