Ortonville, Michigan Property Taxes
The median property tax rate in Ortonville, MI is 1.29%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Ortonville at $307,540, the typical annual property tax bill reaches $3,995, exceeding the national median of $2,690. Property taxes in Ortonville 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 Ortonville'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 Ortonville 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
Ortonville, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$3,967
Ownwell’s Ortonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ortonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ortonville 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 Ortonville, Michigan
Property taxes in Ortonville, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ortonville is 1.29%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Ortonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ortonville 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 Ortonville's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in the area is also 1.29%, found in the 48462 zip code, while the lowest median tax rate is similarly 1.29%, also in the 48462 zip code. Understanding how these cities compare with Ortonville provides valuable insights into the varying tax landscape across Oakland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ortonville Tax Rate
1.29%
Average Oakland County Tax Rate
1.37%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ortonville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48462 | 0.97% | 1.12% | 1.29% | 1.59% | 1.82% |
Source: Ownwell
Property Tax Assessment Values Across Ortonville, Michigan
In Ortonville, 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 Oakland County Assessor 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 Ortonville, 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 Ortonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Ortonville are both $3,995, found in the 48462 zip code, which reflects the uniformity in property tax assessments within this area.
Average Ortonville Assessed Value
$307,540
Average Oakland County Assessed Value
$273,320
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ortonville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48462 | $178,128 | $237,750 | $307,540 | $389,660 | $474,616 |
Source: Ownwell
Property Tax Bills Across Ortonville, Michigan
In Ortonville, located in Oakland 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 determined as a percentage of the market value of the property. For instance, with a median home price of $307,540, the property tax bill can vary significantly. Homeowners in the 25th percentile can expect to pay around $3,039 annually, while those in the 75th percentile might see tax bills as high as $5,271. At the 90th percentile, this figure can climb to $6,728. Several factors influence the tax bill, including property size, location, and any applicable exemptions. These taxes fund essential local services such as schools, infrastructure, and public safety. Compared to the national median property tax rate of 0.99%, Ortonville's rates can be relatively high, impacting homeowners' annual expenses. Understanding these factors helps residents anticipate their tax obligations and manage their finances more effectively.
Average Ortonville Tax Bill
$3,995
Average Oakland County Tax Bill
$3,833
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Ortonville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48462 | $2,222 | $3,039 | $3,995 | $5,271 | $6,728 |
Source: Ownwell