Forestville, Michigan Property Taxes
The median property tax rate in Forestville, 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 Forestville at $69,200, the typical annual property tax bill reaches $1,229, exceeding the national median of $2,690. Property taxes in Forestville 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 Forestville'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 Forestville or another part of Sanilac County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Forestville, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.77%
Estimate Property Tax Bill
$1,225
Ownwell’s Forestville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Forestville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Forestville 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 Forestville, Michigan
Property taxes in Forestville, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Forestville is 1.77%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Forestville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Forestville 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 Forestville's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48434 zip code has the highest median property tax rate of 1.77%, while the same 48434 zip code also has the lowest median tax rate of 1.77%. Understanding how these cities compare with Forestville provides valuable insights into the varying tax landscape across Sanilac County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Forestville Tax Rate
1.77%
Average Sanilac County Tax Rate
1.15%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Forestville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48434 | 1.08% | 1.35% | 1.77% | 2.19% | 3.26% |
Source: Ownwell
Property Tax Assessment Values Across Forestville, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Forestville, 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 Sanilac 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 Forestville, 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 Forestville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 48434, with a tax bill of $1,229.
Average Forestville Assessed Value
$69,200
Average Sanilac County Assessed Value
$107,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Forestville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48434 | $6,600 | $38,850 | $69,200 | $150,400 | $288,300 |
Source: Ownwell
Property Tax Bills Across Forestville, Michigan
In Forestville, the property tax bill is calculated based on the assessed value of the home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Homeowners in Forestville, located in Sanilac County, see a range of tax bills depending on their property’s assessed value. For instance, homeowners at the 25th percentile pay around $584 annually, while those at the 75th percentile face bills closer to $2,362. At the higher end, the 90th percentile tax bill can reach up to $4,169. These figures are influenced by various factors, including property size, location, and any applicable exemptions. The median home price in Forestville is $69,200, which can help homeowners estimate their potential tax bills. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners to understand how local rates and assessments impact their financial obligations.
Average Forestville Tax Bill
$1,229
Average Sanilac County Tax Bill
$1,234
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Forestville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48434 | $251 | $584 | $1,229 | $2,362 | $4,169 |
Source: Ownwell