Fair Haven, Michigan Property Taxes
The median property tax rate in Fair Haven, MI is 1.10%, slightly higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Fair Haven, the typical annual property tax bill reaches $144, significantly lower than the national median of $2,690. Property taxes in Fair Haven are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fair Haven'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 Fair Haven 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
Fair Haven, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$387
Ownwell’s Fair Haven Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fair Haven with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fair Haven to provide an accurate estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities, ensuring you make informed decisions. For those interested in neighborhood-level trends, scroll down to discover more localized information. Your property’s assessed value, determined by St. Clair County, is crucial for property tax calculations and accounts for any applicable exemptions.
Property Tax Rates Across Fair Haven, Michigan
Property taxes in Fair Haven, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fair Haven is 1.10%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Fair Haven set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fair Haven 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 Fair Haven's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48023 zip code has the highest median property tax rate of 1.10%, while the 48023 zip code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with Fair Haven provides valuable insights into the varying tax landscape across St. Clair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fair Haven Tax Rate
1.10%
Average St. Clair County Tax Rate
0.78%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fair Haven, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48023 | 0.12% | 0.12% | 1.10% | 1.89% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Fair Haven, Michigan
In Fair Haven, 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 St. Clair 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 Fair Haven, 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 Fair Haven helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 48023 has the highest and lowest median tax bills at $144, which offers a unique perspective on property tax variations within the area.
Average Fair Haven Assessed Value
$35,200
Average St. Clair County Assessed Value
$181,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fair Haven, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48023 | $6,600 | $7,600 | $35,200 | $50,000 | $330,220 |
Source: Ownwell
Property Tax Bills Across Fair Haven, Michigan
In Fair Haven, St. Clair County, MI, property tax bills are calculated based on the assessed value of the home. The assessed value is a percentage of the market value determined by the local assessor's office. Homeowners in Fair Haven can expect their property tax rates to vary, with the median tax rate being significantly lower than the national median of 0.99%. Several factors influence the tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, the tax bill at the 25th percentile is $51, while at the 75th percentile, it rises to $288. The tax bill at the 90th percentile can reach up to $2,512, reflecting the variability based on home values and local levies. For homeowners, understanding these factors is crucial, as property taxes directly impact their annual financial planning. Accurate assessments and potential exemptions can significantly reduce the overall tax burden, making homeownership more affordable in Fair Haven.
Average Fair Haven Tax Bill
$144
Average St. Clair County Tax Bill
$1,504
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Fair Haven, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48023 | $51 | $51 | $144 | $288 | $2,512 |
Source: Ownwell