Hubbardston, Michigan Property Taxes
The median property tax rate in Hubbardston, MI is 0.43%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $106,600 in Hubbardston, the typical annual property tax bill is $470, well below the national median of $2,690. Property taxes in Hubbardston are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hubbardston'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 Hubbardston 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
Hubbardston, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$458
Ownwell’s Hubbardston Property Tax Bill Calculator is a valuable tool for any homeowner, real estate investor, or potential owner looking to estimate their annual property taxes in Hubbardston. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Hubbardston to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities with ease. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Hubbardston, Michigan
Property taxes in Hubbardston, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hubbardston is 0.43%, significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Hubbardston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hubbardston 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 Hubbardston's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48845 zip code has the highest median property tax rate of 0.43%, while the same zip code also has the lowest median tax rate of 0.43%. Understanding how these cities compare with Hubbardston provides valuable insights into the varying tax landscape across Ionia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hubbardston Tax Rate
0.43%
Average Ionia County Tax Rate
0.49%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hubbardston, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48845 | 0.30% | 0.35% | 0.43% | 0.53% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Hubbardston, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hubbardston, MI. 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 Ionia 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 Hubbardston, 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. The median home price in Hubbardston is $106,600, with tax bills ranging from $245 at the 25th percentile to $970 at the 90th percentile. Notably, the zip code 48845 has the highest median tax bill at $470. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hubbardston Assessed Value
$106,600
Average Ionia County Assessed Value
$146,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hubbardston, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48845 | $12,840 | $53,200 | $106,600 | $154,000 | $213,360 |
Source: Ownwell
Property Tax Bills Across Hubbardston, Michigan
In Hubbardston, located in Ionia County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Hubbardston is $106,600. Property taxes in this area are influenced by the local tax rate and the assessed value of the property. For instance, homeowners in the 25th percentile can expect a tax bill around $245, while those in the 75th percentile may see bills closer to $684. At the 90th percentile, tax bills can reach up to $970. The property tax rate in Hubbardston can be compared to the national median property tax rate of 0.99%. These taxes fund essential public services such as schools, infrastructure, and emergency services. For homeowners, understanding how these bills are calculated is crucial, as it directly impacts their annual financial planning and the overall cost of homeownership. The highest and lowest median tax bills in the area are both reported at $470, indicating some consistency in property tax assessments within the region.
Average Hubbardston Tax Bill
$470
Average Ionia County Tax Bill
$910
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Hubbardston, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48845 | $150 | $245 | $470 | $684 | $970 |
Source: Ownwell