Lewiston, Michigan Property Taxes
The median property tax rate in Lewiston, MI is 0.92%, slightly below both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Lewiston at $116,600, the typical annual property tax bill is $894, which is lower than the national median of $2,690. Property taxes in Lewiston are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Lewiston'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 Lewiston or another part of Montmorency County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lewiston, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$1,073
Ownwell’s Lewiston Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Lewiston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lewiston 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 Lewiston, Michigan
Property taxes in Lewiston, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lewiston is 0.92%, slightly below the U.S. national median of 0.99%. Local government entities within Lewiston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lewiston 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 Lewiston's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49756 zip code has the highest median property tax rate of 0.92%, while the same zip code also has the lowest median tax rate of 0.92%. Understanding how these cities compare with Lewiston provides valuable insights into the varying tax landscape across Montmorency County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lewiston Tax Rate
0.92%
Average Montmorency County Tax Rate
0.88%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lewiston, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49756 | 0.45% | 0.50% | 0.92% | 1.18% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Lewiston, Michigan
In Lewiston, 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 Montmorency County 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 Lewiston, 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 Lewiston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Lewiston is $894 in the 49756 zip code, which also represents the lowest median tax bill, reflecting a consistent tax environment.
Average Lewiston Assessed Value
$116,600
Average Montmorency County Assessed Value
$94,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lewiston, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49756 | $36,200 | $69,200 | $116,600 | $191,400 | $321,200 |
Source: Ownwell
Property Tax Bills Across Lewiston, Michigan
In Lewiston, located in Montmorency County, MI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the market value, which for Lewiston, has a median home price of $116,600. Tax rates are applied to this assessed value to determine the annual property tax bill. Several factors influence the final tax amount, including the property's location within the county, any applicable exemptions, and the specific tax rate set by local authorities. For instance, homeowners in the 25th percentile can expect to pay around $533 annually, while those in the 75th percentile face a tax bill of approximately $1,537. The highest tax bills, in the 90th percentile, can reach up to $2,862. Compared to the national median property tax rate of 0.99%, Lewiston's tax rates reflect its local economic conditions and funding requirements. These taxes significantly impact homeowners by contributing to local services and infrastructure, ultimately influencing the affordability and desirability of living in the area.
Average Lewiston Tax Bill
$894
Average Montmorency County Tax Bill
$728
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Lewiston, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49756 | $300 | $533 | $894 | $1,537 | $2,862 |
Source: Ownwell