Fulton, Michigan Property Taxes
The median property tax rate in Fulton, MI is 0.34%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Fulton, the typical annual property tax bill reaches $611, well below the national median of $2,690. Property taxes in Fulton 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 Fulton'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 Fulton 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
Fulton, Michigan Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$2,140
Ownwell’s Fulton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fulton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fulton 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 Fulton, Michigan
Property taxes in Fulton, Michigan, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Fulton is 1.54%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Fulton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fulton 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. Understanding how these cities compare with Fulton provides valuable insights into the varying tax landscape across St. Joseph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fulton Tax Rate
0.34%
Average St. Joseph County Tax Rate
0.41%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fulton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49052 | 0.32% | 0.32% | 0.34% | 0.35% | 0.36% |
Source: Ownwell
Property Tax Assessment Values Across Fulton, Michigan
In Fulton, 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. Joseph 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 Fulton, 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 Fulton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest median tax bill is 49052, with a median tax bill of $611.00, while the lowest median tax bill is also in 49052, reflecting the same amount.
Average Fulton Assessed Value
$190,600
Average St. Joseph County Assessed Value
$142,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fulton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49052 | $96,000 | $111,200 | $190,600 | $193,400 | $224,920 |
Source: Ownwell
Property Tax Bills Across Fulton, Michigan
In Fulton, MI, property tax bills are calculated based on the assessed value of the home, which is determined by the local assessor's office. The assessed value is typically a percentage of the market value of the property. For instance, with a median home price of $190,600, the tax bill can vary significantly. Homeowners in the 25th percentile can expect to pay around $393, while those in the 75th percentile might see bills closer to $678. At the 90th percentile, property tax bills can reach up to $780. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. Comparatively, Fulton's tax rates are more favorable than the national median property tax rate of 0.99%. This can make homeownership more affordable, but it's essential for homeowners to stay informed about their property's assessed value and any potential changes in local tax rates. Understanding these factors can help homeowners anticipate their annual tax obligations and manage their finances accordingly.
Average Fulton Tax Bill
$611
Average St. Joseph County Tax Bill
$772
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Fulton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49052 | $336 | $393 | $611 | $678 | $780 |
Source: Ownwell