Hemlock, Michigan Property Taxes
The median property tax rate in Hemlock, MI is 0.42%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Hemlock being $174,200, the typical annual property tax bill amounts to $741, which is well below the national median of $2,690. Property taxes in Hemlock are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Hemlock'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 Hemlock or another part of Midland County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hemlock, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$732
Ownwell’s Hemlock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hemlock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hemlock 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 Hemlock, Michigan
Property taxes in Hemlock, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hemlock 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 Hemlock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hemlock 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 Hemlock's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48626 zip code has the highest median property tax rate of 1.54%, while the 48626 zip code also has the lowest median tax rate of 1.54%. Understanding how these cities compare with Hemlock provides valuable insights into the varying tax landscape across Midland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hemlock Tax Rate
0.42%
Average Midland County Tax Rate
0.54%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hemlock, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48626 | 0.32% | 0.38% | 0.42% | 0.45% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Hemlock, Michigan
In Hemlock, 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 Midland 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 Hemlock, 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 Hemlock is $174,200, with tax bills ranging from $512 at the 25th percentile to $1,389 at the 90th percentile. The zip code with the highest and lowest median tax bill is 48626, both standing at $741. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hemlock Assessed Value
$174,200
Average Midland County Assessed Value
$158,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hemlock, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48626 | $89,760 | $133,600 | $174,200 | $235,600 | $377,280 |
Source: Ownwell
Property Tax Bills Across Hemlock, Michigan
In Hemlock, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor's office and is a percentage of the market value. For instance, if a home in Hemlock has a median home price of $174,200, the assessed value will be a portion of this amount. The property tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Homeowners in Hemlock can expect varying tax bills, with the 25th percentile at $512, the 75th percentile at $987, and the 90th percentile reaching up to $1,389. These figures indicate that while some homeowners may pay lower taxes, others could face significantly higher bills. Comparing these values to the national median property tax rate of 0.99%, Hemlock's tax rates can be seen as relatively moderate. This system ensures that property taxes are proportionate to the value of the home, impacting homeowners based on their property's assessed worth.
Average Hemlock Tax Bill
$741
Average Midland County Tax Bill
$1,273
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Hemlock, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48626 | $300 | $512 | $741 | $987 | $1,389 |
Source: Ownwell