Fairgrove, Michigan Property Taxes
The median property tax rate in Fairgrove, MI is 0.37%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Fairgrove, the typical annual property tax bill reaches $475, well below the national median of $2,690. Property taxes in Fairgrove 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 Fairgrove'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 Fairgrove 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
Fairgrove, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.37%
Estimate Property Tax Bill
$426
Ownwell’s Fairgrove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairgrove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairgrove 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 Fairgrove, Michigan
Property taxes in Fairgrove, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairgrove is 0.37%, significantly lower than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Fairgrove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairgrove 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 Fairgrove's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in Michigan is 3.83%, while the lowest median tax rate is 0.78%. Understanding how these cities compare with Fairgrove provides valuable insights into the varying tax landscape across Tuscola County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fairgrove Tax Rate
0.37%
Average Tuscola County Tax Rate
0.36%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairgrove, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48733 | 0.27% | 0.30% | 0.37% | 0.55% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Fairgrove, Michigan
In Fairgrove, 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 Tuscola 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 Fairgrove, 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 Fairgrove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Fairgrove is $475 in the 48733 zip code. The lowest median tax bill is also $475 in the same zip code.
Average Fairgrove Assessed Value
$115,100
Average Tuscola County Assessed Value
$128,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fairgrove, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48733 | $53,200 | $84,250 | $115,100 | $158,100 | $208,600 |
Source: Ownwell
Property Tax Bills Across Fairgrove, Michigan
In Fairgrove, located in Tuscola County, MI, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value, which is determined by local assessors. Homeowners in Fairgrove typically pay a median property tax rate of around 0.99%, aligning with the national median rate. For a home valued at the median price of $115,100, the tax bill can vary significantly. At the 25th percentile, homeowners might pay approximately $314, while those at the 75th percentile could see bills around $682. The tax bill at the 90th percentile reaches up to $934. The highest and lowest median tax bills in Fairgrove are both $475, indicating a relatively uniform tax structure within the zip code 48733. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life and community resources available to homeowners.
Average Fairgrove Tax Bill
$475
Average Tuscola County Tax Bill
$531
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairgrove, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48733 | $201 | $314 | $475 | $682 | $934 |
Source: Ownwell