Oscoda, Alcona County, Michigan Property Taxes
The median property tax rate in Oscoda, MI is 0.44%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Oscoda at $101,900, the typical annual property tax bill amounts to $527, well below the national median of $2,690. Property taxes in Oscoda are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Oscoda's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Oscoda or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Oscoda, Alcona County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$448
$416
Ownwell’s Oscoda Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oscoda with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oscoda 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 Oscoda, Alcona County, Michigan
Property taxes in Oscoda, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oscoda is 0.44%, which is significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Oscoda set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oscoda 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 Oscoda's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48750 zip code has both the highest and lowest median property tax rate of 0.44%. Understanding how these cities compare with Oscoda provides valuable insights into the varying tax landscape across Alcona County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oscoda Tax Rate
0.44%
Average Alcona County Tax Rate
0.72%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oscoda, Alcona County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48750 | 0.39% | 0.42% | 0.44% | 0.96% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Oscoda, Alcona County, Michigan
In Oscoda, 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 Alcona 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 Oscoda, 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 Oscoda helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Oscoda is $101,900, with the highest and lowest median tax bills both recorded at $527 in the 48750 zip code.
Property Tax Assessment Values Across Oscoda, Alcona County, Michigan
Source: Ownwell
$47,800
$134,650
$221,500
Average Oscoda Assessed Value
$101,900
Average Alcona County Assessed Value
$114,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oscoda, Alcona County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48750 | $42,920 | $68,050 | $101,900 | $144,950 | $220,860 |
Source: Ownwell
Property Tax Bills Across Oscoda, Alcona County, Michigan
In Oscoda, located in Alcona County, MI, property tax bills are calculated based on the assessed value of a home, which typically reflects 50% of its market value. For a median home price of $101,900, the assessed value would be approximately $50,950. This assessed value is then multiplied by the local tax rate to determine the final tax bill. Homeowners in Oscoda experience tax bills that vary significantly; the 25th percentile tax bill is around $402, while the 75th percentile reaches $812, and the 90th percentile can be as high as $1,356. The median tax bill in the area is $527, which is lower than the national median property tax rate of 0.99%. These property taxes fund essential community services such as schools, infrastructure, and emergency services. For homeowners, understanding these factors is crucial as they directly impact annual financial planning and the overall cost of homeownership.
Average Oscoda Tax Bill
$527
Average Alcona County Tax Bill
$819
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Oscoda, Alcona County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48750 | $264 | $402 | $527 | $812 | $1,356 |
Source: Ownwell