Brohman, Michigan Property Taxes
The median property tax rate in Brohman, MI is 0.36%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $81,400 in Brohman, the typical annual property tax bill comes to $300, well below the national median of $2,690. Property taxes in Brohman are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Brohman'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 Brohman or another part of Newaygo County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brohman, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$293
Ownwell’s Brohman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brohman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brohman 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 Brohman, Michigan
Property taxes in Brohman, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brohman is 1.31%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Brohman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brohman 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 Brohman's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49337 zip code has the highest median property tax rate of 1.54%, while the 49349 zip code has the lowest median tax rate of 1.31%. Understanding how these cities compare with Brohman provides valuable insights into the varying tax landscape across Newaygo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brohman Tax Rate
0.36%
Average Newaygo County Tax Rate
0.43%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brohman, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49312 | 0.25% | 0.31% | 0.36% | 0.43% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Brohman, Michigan
In Brohman, 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 Newaygo 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 Brohman, 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 Brohman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Brohman is $81,400, with the 25th percentile tax bill at $165 and the 75th percentile tax bill at $506. The highest and lowest median tax bill both stand at $300 in the 49312 zip code.
Average Brohman Assessed Value
$81,400
Average Newaygo County Assessed Value
$143,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brohman, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49312 | $24,800 | $45,800 | $81,400 | $138,600 | $203,000 |
Source: Ownwell
Property Tax Bills Across Brohman, Michigan
In Brohman, located in Newaygo County, MI, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the home's market value, which is determined by local assessors. For example, with a median home price of $81,400, the tax bill can vary significantly. Homeowners in the 25th percentile pay around $165 annually, while those in the 75th percentile see bills closer to $506. At the 90th percentile, tax bills reach approximately $812. Several factors influence these amounts, including the home's location, size, and any applicable exemptions or deductions. The median property tax rate in Brohman is notably lower than the national median of 0.99%, which can be a relief for homeowners. However, even within Brohman, tax bills can differ, as evidenced by the highest and lowest median tax bills both being $300 in the 49312 zip code. Understanding these variables helps homeowners anticipate their annual tax obligations and manage their finances effectively.
Average Brohman Tax Bill
$300
Average Newaygo County Tax Bill
$667
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Brohman, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49312 | $75 | $165 | $300 | $506 | $812 |
Source: Ownwell