Twining, Michigan Property Taxes
The median property tax rate in Twining, MI is 0.91%, slightly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Twining at $96,900, the typical annual property tax bill amounts to $896, which is significantly below the national median of $2,690. Property taxes in Twining are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Twining'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 Twining or another part of Arenac County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Twining, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$882
Ownwell’s Twining Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Twining with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Twining 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 Twining, Michigan
Property taxes in Twining, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Twining is 0.91%, which is lower than the U.S. national median of 0.99%. Local government entities within Twining set these rates annually, and they can vary significantly across different neighborhoods. Each year, Twining 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 Twining's effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 48766 has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. Understanding how these areas compare with Twining provides valuable insights into the varying tax landscape across Arenac County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Twining Tax Rate
0.91%
Average Arenac County Tax Rate
1.29%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Twining, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48766 | 0.59% | 0.77% | 0.91% | 1.27% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across Twining, Michigan
In Twining, 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 Arenac 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 Twining, 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 Twining is $96,900, and the tax bills range significantly. The 25th percentile tax bill is $526, while the 75th percentile tax bill is $1,387. The highest median tax bill is in the 48766 zip code, amounting to $896, which is also the lowest median tax bill. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Twining Assessed Value
$96,900
Average Arenac County Assessed Value
$100,000
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Twining, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48766 | $31,580 | $58,250 | $96,900 | $145,650 | $210,380 |
Source: Ownwell
Property Tax Bills Across Twining, Michigan
In Twining, MI, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor. The assessed value is typically a percentage of the property's market value. Homeowners in Twining can expect their property tax rates to be influenced by various factors, including the local government's budget needs and the specific tax rate set by the county. The median home price in Twining is $96,900, and property taxes are calculated using the local tax rate applied to the assessed value of the property. The median property tax bill in Twining is $896, which aligns with the highest and lowest median tax bills reported in the 48766 zip code. For homeowners, property tax bills can vary significantly, with the 25th percentile tax bill at $526 and the 90th percentile reaching $2,039. This range highlights the variability in tax burdens based on property values and assessment practices. Compared to the national median property tax rate of 0.99%, Twining's rates reflect the local economic conditions and budgetary requirements.
Average Twining Tax Bill
$896
Average Arenac County Tax Bill
$1,273
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Twining, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48766 | $277 | $526 | $896 | $1,387 | $2,039 |
Source: Ownwell