Breedsville, Michigan Property Taxes
The median property tax rate in Breedsville, MI is 0.55%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Breedsville at $48,600, the typical annual property tax bill amounts to $254, which is well below the national median of $2,690. Property taxes in Breedsville are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Breedsville'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 Breedsville 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
Breedsville, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$267
Ownwell’s Breedsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Breedsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Breedsville 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 Breedsville, Michigan
Property taxes in Breedsville, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Breedsville is 0.55%, which is lower than the U.S. national median of 0.99%. Local government entities within Breedsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Breedsville 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 Breedsville's effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 49027 has the same median property tax rate of 0.55%. Understanding how these cities compare with Breedsville provides valuable insights into the varying tax landscape across Van Buren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Breedsville Tax Rate
0.55%
Average Van Buren County Tax Rate
0.43%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Breedsville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49027 | 0.21% | 0.39% | 0.55% | 0.79% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Breedsville, Michigan
In Breedsville, 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 Van Buren County Assessor 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 Breedsville, 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 Breedsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Breedsville are both $254.00, found in the zip code 49027.
Average Breedsville Assessed Value
$48,600
Average Van Buren County Assessed Value
$178,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Breedsville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49027 | $4,080 | $12,400 | $48,600 | $92,900 | $128,600 |
Source: Ownwell
Property Tax Bills Across Breedsville, Michigan
In Breedsville, Van Buren County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Breedsville is $48,600. Property taxes are then levied using the local tax rate, which determines the amount owed. For example, the tax bill at the 25th percentile is $38, while at the 75th percentile, it is $479. The tax bill at the 90th percentile reaches $821. Several factors influence property tax bills, including the home’s assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Breedsville with properties in the zip code 49027 see a median tax bill of $254. This can significantly impact household budgets, especially when compared to the national median property tax rate of 0.99%. Understanding these factors can help homeowners anticipate their annual tax obligations and plan accordingly.
Average Breedsville Tax Bill
$254
Average Van Buren County Tax Bill
$842
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Breedsville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49027 | $15 | $38 | $254 | $479 | $821 |
Source: Ownwell