Saginaw, Michigan Property Taxes
The median property tax rate in Saginaw, MI is 0.98%, slightly below the national median of 0.99% and lower than the Michigan state median of 1.07%. With the median home value in Saginaw at $84,000, the typical annual property tax bill reaches $977, which is well below the national median of $2,690. Property taxes in Saginaw are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Saginaw'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 Saginaw 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
Saginaw, 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 Saginaw Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saginaw with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saginaw 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 Saginaw, Michigan
Property taxes in Saginaw, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saginaw is 0.98%, which is just below the U.S. national median of 0.99%. Local government entities within Saginaw set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saginaw 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 Saginaw's effective property tax rate to other areas in the county and the national median. For comparison, the 48602 zip code has the highest median property tax rate of 2.14%, while the 48609 zip code has the lowest median tax rate of 0.46%. Understanding how these areas compare with Saginaw provides valuable insights into the varying tax landscape across Saginaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saginaw Tax Rate
0.98%
Average Saginaw County Tax Rate
0.78%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saginaw, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48601 | 0.37% | 0.48% | 1.56% | 2.49% | 3.16% |
| 48602 | 1.56% | 1.70% | 2.14% | 2.50% | 2.94% |
| 48603 | 0.78% | 0.83% | 0.89% | 0.97% | 1.42% |
| 48604 | 0.36% | 0.40% | 0.50% | 1.26% | 1.81% |
| 48607 | 1.22% | 1.50% | 2.11% | 2.85% | 3.86% |
| 48609 | 0.40% | 0.43% | 0.46% | 0.50% | 0.53% |
| 48638 | 0.75% | 0.80% | 0.84% | 0.95% | 1.38% |
| 48722 | 0.22% | 0.23% | 0.25% | 0.27% | 0.28% |
Source: Ownwell
Property Tax Assessment Values Across Saginaw, Michigan
In Saginaw, 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 local authorities 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 Saginaw, 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 Saginaw helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Saginaw is $1,604 in zip code 48603, while the lowest median tax bill is $409 in zip code 48722.
Average Saginaw Assessed Value
$84,000
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 Saginaw, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48601 | $16,000 | $23,600 | $35,600 | $71,250 | $131,700 |
| 48602 | $34,200 | $43,400 | $57,200 | $78,800 | $105,600 |
| 48603 | $109,200 | $134,800 | $169,600 | $239,400 | $331,880 |
| 48604 | $55,440 | $73,000 | $93,400 | $128,200 | $186,520 |
| 48607 | $9,920 | $17,200 | $24,800 | $40,800 | $54,120 |
| 48609 | $87,400 | $117,800 | $155,000 | $226,200 | $337,760 |
| 48638 | $65,000 | $114,800 | $151,800 | $187,800 | $233,200 |
| 48722 | $92,020 | $125,050 | $180,100 | $235,150 | $268,180 |
Source: Ownwell
Property Tax Bills Across Saginaw, Michigan
Property tax bills in Saginaw, MI, are calculated based on the assessed value of a property, which is typically half of its market value. For instance, if a home has a median market price of $84,000, its assessed value would be approximately $42,000. The local tax rates are then applied to this assessed value to determine the annual tax bill. Various factors, such as property location and applicable exemptions, influence the final amount. In Saginaw County, the median property tax rate is notably lower than the national median of 0.99%. Homeowners in different zip codes within the county experience a range of tax bills. In zip code 48603, the highest median tax bill is $1,604, while in zip code 48722, the lowest is $409. Generally, homeowners can expect to pay between $555 at the 25th percentile and $2,167 at the 90th percentile. These variations significantly impact homeowners' annual expenses, influencing their budgeting and financial planning.
Average Saginaw Tax Bill
$977
Average Saginaw County Tax Bill
$894
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Saginaw, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48601 | $210 | $357 | $546 | $789 | $1,073 |
| 48602 | $751 | $970 | $1,248 | $1,622 | $2,092 |
| 48603 | $914 | $1,182 | $1,604 | $2,383 | $3,284 |
| 48604 | $243 | $329 | $519 | $1,482 | $2,180 |
| 48607 | $223 | $403 | $611 | $906 | $1,230 |
| 48609 | $381 | $526 | $719 | $1,054 | $1,595 |
| 48638 | $629 | $971 | $1,336 | $1,720 | $2,245 |
| 48722 | $245 | $307 | $409 | $511 | $573 |
Source: Ownwell