Burt, Michigan Property Taxes
The median property tax rate in Burt, MI is 0.40%, considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Burt, the typical annual property tax bill reaches $624, significantly below the national median of $2,690. Property taxes in Burt 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 Burt'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 Burt 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
Burt, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$646
Ownwell’s Burt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Burt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burt 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 Burt, Michigan
Property taxes in Burt, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burt is 1.94%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Burt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burt 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. Understanding how Burt's tax rate compares with other areas in Saginaw County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burt Tax Rate
0.40%
Average Saginaw County Tax Rate
0.78%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burt, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48417 | 0.23% | 0.35% | 0.40% | 0.44% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Burt, Michigan
In Burt, 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 Saginaw 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 Burt, 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. The median home price in Burt is $161,600, with tax bills ranging from $424 at the 25th percentile to $1,135 at the 90th percentile. The zip code 48417 has the highest median tax bill of $624. 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 Burt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Burt Assessed Value
$161,600
Average Saginaw County Assessed Value
$119,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burt, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48417 | $85,880 | $115,000 | $161,600 | $212,700 | $297,520 |
Source: Ownwell
Property Tax Bills Across Burt, Michigan
In Burt, located in Saginaw County, MI, property tax bills are calculated based on the assessed value of the home, which is determined by local tax assessors. The assessed value is typically a percentage of the market value of the property. For example, with a median home price of $161,600, the assessed value will be a portion of this figure. Property tax rates in Burt are applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including local tax rates, property exemptions, and any applicable deductions. Homeowners in Burt can expect their tax bills to vary significantly. At the lower end, the 25th percentile tax bill is around $424, while at the higher end, the 75th percentile tax bill reaches $855. The 90th percentile tax bill can go up to $1135. These variations highlight the impact of property values and tax rates on homeowners' annual expenses. Given that the national median property tax rate is 0.99%, Burt's property tax rates are relatively moderate, making it an attractive location for homeowners.
Average Burt Tax Bill
$624
Average Saginaw County Tax Bill
$894
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Burt, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48417 | $281 | $424 | $624 | $855 | $1,135 |
Source: Ownwell