Turner, Michigan Property Taxes
The median property tax rate in Turner, MI is 2.24%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Turner, the typical annual property tax bill reaches $954, which is below the national median of $2,690. Property taxes in Turner 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 Turner’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 Turner 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
Turner, 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 Turner Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Turner with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Turner 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 Turner, Michigan
Property taxes in Turner, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Turner is 2.24%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Turner set these rates annually, and they can vary significantly across different neighborhoods. Each year, Turner 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 Turner's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48765 zip code has the highest median property tax rate of 2.24%, while the same zip code also has the lowest median tax rate of 2.24%. Understanding how these cities compare with Turner provides valuable insights into the varying tax landscape across Iosco County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Turner Tax Rate
2.24%
Average Iosco County Tax Rate
2.40%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Turner, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48765 | 1.35% | 1.63% | 2.24% | 3.17% | 3.59% |
Source: Ownwell
Property Tax Assessment Values Across Turner, Michigan
In Turner, 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 Iosco 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 Turner, 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 Turner helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Turner, the median home price is $45,475, with tax bills ranging from $545 at the 25th percentile to $2,207 at the 90th percentile. Notably, the zip code 48765 has the highest and lowest median tax bill at $954.
Average Turner Assessed Value
$45,475
Average Iosco County Assessed Value
$51,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Turner, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48765 | $14,700 | $26,250 | $45,475 | $72,138 | $102,150 |
Source: Ownwell
Property Tax Bills Across Turner, Michigan
In Turner, located in Iosco County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Turner is $45,475. To determine the tax bill, the assessed value is multiplied by the local tax rate. Various factors influence this calculation, including property size, location, and any improvements made to the property. Homeowners in Turner can expect their property tax bills to vary significantly. The 25th percentile tax bill is $545, while the 75th percentile tax bill is $1,422, and the 90th percentile tax bill reaches up to $2,207. This range indicates that property tax burdens can differ widely among residents, affecting their financial planning and disposable income. Compared to the national median property tax rate of 0.99%, Turner's property tax bills reflect the specific local economic conditions and property values, making it essential for homeowners to stay informed about their assessed values and any potential changes in tax rates.
Average Turner Tax Bill
$954
Average Iosco County Tax Bill
$1,150
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Turner, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48765 | $337 | $545 | $954 | $1,422 | $2,207 |
Source: Ownwell