Branch, Michigan Property Taxes
The median property tax rate in BRANCH, MI is 1.77%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in BRANCH, the typical annual property tax bill reaches $1,142, exceeding the national median of $2,690. Property taxes in BRANCH 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 BRANCH'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 BRANCH 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
Branch, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.77%
Estimate Property Tax Bill
$1,228
Ownwell’s BRANCH Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BRANCH with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BRANCH 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 Branch, Michigan
Property taxes in BRANCH, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in BRANCH is 1.77%, significantly higher than the U.S. national median of 0.99%. Local government entities within BRANCH set these rates annually, and they can vary significantly across different neighborhoods. Each year, BRANCH 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 BRANCH's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49402 has the highest median property tax rate of 1.77%, while the same zip code also has the lowest median tax rate of 1.77%. Understanding how these cities compare with BRANCH provides valuable insights into the varying tax landscape across Oceana County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Branch Tax Rate
1.77%
Average Oceana County Tax Rate
1.08%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Branch, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49402 | 1.08% | 1.31% | 1.77% | 2.20% | 2.89% |
Source: Ownwell
Property Tax Assessment Values Across Branch, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in BRANCH, Michigan. 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 Oceana 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. 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 BRANCH helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in BRANCH is $1,142 in zip code 49402, while the lowest is also $1,142 in the same zip code.
Average Branch Assessed Value
$69,400
Average Oceana County Assessed Value
$154,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Branch, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49402 | $24,340 | $40,000 | $69,400 | $128,150 | $178,560 |
Source: Ownwell
Property Tax Bills Across Branch, Michigan
In BRANCH, located in Oceana County, MI, property tax bills are calculated based on the assessed value of your home, which is typically 50% of its market value. For example, with a median home price of $69,400, the assessed value would be around $34,700. The tax rate is then applied to this assessed value to determine your annual tax bill. Factors such as local government budgets, school funding needs, and public services influence the tax rate. Homeowners in BRANCH can expect a property tax bill that varies significantly depending on their home's value. The 25th percentile tax bill is approximately $776, while those in the 75th percentile pay around $1,662. At the higher end, the 90th percentile tax bill reaches up to $2,425. These variations show how property taxes can impact homeowners differently, potentially affecting household budgets and financial planning. Compared to the national median property tax rate of 0.99%, BRANCH's rates reflect the specific needs and economic conditions of Oceana County.
Average Branch Tax Bill
$1,142
Average Oceana County Tax Bill
$1,632
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Branch, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49402 | $500 | $776 | $1,142 | $1,662 | $2,425 |
Source: Ownwell