Holton, Michigan Property Taxes
The median property tax rate in Holton, MI is 1.18%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Holton at $131,600, the typical annual property tax bill reaches $1,694, exceeding the national median of $2,690. Property taxes in Holton 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 Holton'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 Holton 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
Holton, Michigan Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$2,140
Ownwell’s Holton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Holton with just two data inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Holton to project your property tax bill. This valuable tool provides a clear understanding of potential tax obligations. For those interested in exploring trends at a more granular level, additional localized information is available further down the page. Your property’s assessed value, determined by the county, is crucial for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Holton, Michigan
Property taxes in Holton, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holton is 1.18%, higher than the U.S. national median of 0.99%. Local government entities within Holton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holton 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 Holton's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49425 zip code has both the highest and lowest median property tax rate of 1.18%. Understanding how these cities compare with Holton 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 Holton Tax Rate
1.18%
Average Oceana County Tax Rate
1.08%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49425 | 0.76% | 0.95% | 1.18% | 1.46% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Holton, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Holton, 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. In Holton, 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. For example, the zip code with the highest median tax bill in Holton is 49425, with a median tax bill of $1,694. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Holton Assessed Value
$131,600
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 Holton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49425 | $47,200 | $83,800 | $131,600 | $234,600 | $329,680 |
Source: Ownwell
Property Tax Bills Across Holton, Michigan
In Holton, property tax bills are calculated based on the assessed value of a home, which is determined by the Oceana County assessor's office. The assessed value is typically a percentage of the market value of the property. For example, with a median home price of $131,600, the property tax rate in Holton can significantly impact homeowners' annual expenses. The property tax bill is influenced by several factors, including local tax rates, which can vary within the county, and any applicable exemptions or deductions that a homeowner may qualify for. For instance, the 25th percentile tax bill in Holton is around $998, while the 75th percentile tax bill is approximately $2,527. For those in the 90th percentile, the tax bill can reach up to $3,546. These property taxes fund essential services such as public schools, infrastructure, and emergency services, directly affecting the quality of life for residents. Homeowners in Holton need to be aware of these factors to manage their financial planning effectively.
Average Holton Tax Bill
$1,694
Average Oceana County Tax Bill
$1,632
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Holton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49425 | $549 | $998 | $1,694 | $2,527 | $3,546 |
Source: Ownwell