Portland, Michigan Property Taxes
The median property tax rate in Portland, MI is 1.06%, slightly higher than the national median of 0.99% but just below the Michigan state median of 1.07%. With the median home value in Portland at $225,400, the typical annual property tax bill amounts to $2,085, which is lower than the national median of $2,690. Property taxes in Portland are calculated based on the tax assessed value, typically lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Portland’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 Portland 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
Portland, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$2,389
Ownwell’s Portland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Portland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Portland 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 Portland, Michigan
Property taxes in Portland, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Portland is 1.06%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Portland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Portland 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 Portland's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48875 zip code has the highest median property tax rate of 1.06%, while the same zip code also has the lowest median tax rate of 1.06%. Understanding how these cities compare with Portland provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Portland Tax Rate
1.06%
Average Clinton County Tax Rate
1.43%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Portland, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48875 | 0.35% | 0.50% | 1.06% | 1.22% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Portland, Michigan
In Portland, 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 Clinton 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 Portland, 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 Portland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Portland is $2085 in the 48875 zip code, while the lowest median tax bill is also $2085 in the same zip code.
Average Portland Assessed Value
$225,400
Average Clinton County Assessed Value
$186,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Portland, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48875 | $120,880 | $168,000 | $225,400 | $324,750 | $529,280 |
Source: Ownwell
Property Tax Bills Across Portland, Michigan
In Portland, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. For instance, with a median home price of $225,400, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $1,362, while at the 75th percentile, it rises to $2,778. For those at the 90th percentile, it can reach up to $3,884. Several factors influence these amounts, including property location, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Portland's rates reflect the local county's specific fiscal needs and policies. Homeowners must stay informed about these factors as they directly impact annual financial planning and the overall cost of homeownership in Portland.
Average Portland Tax Bill
$2,085
Average Clinton County Tax Bill
$2,460
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Portland, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48875 | $910 | $1,362 | $2,085 | $2,778 | $3,884 |
Source: Ownwell