Linwood, Michigan Property Taxes
The median property tax rate in Linwood, MI is 0.47%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $131,000 in Linwood, the typical annual property tax bill amounts to $637, well below the national median of $2,690. Property taxes in Linwood are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Linwood'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 Linwood or another part of Bay County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Linwood, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$616
$571
Ownwell’s Linwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Linwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Linwood 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 Linwood, Michigan
Property taxes in Linwood, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Linwood is 0.47%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Linwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Linwood 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 Linwood's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 48634 has the highest median property tax rate of 0.47%, while the same zip code also has the lowest median tax rate of 0.47%. Understanding how these cities compare with Linwood provides valuable insights into the varying tax landscape across Bay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Linwood Tax Rate
0.47%
Average Bay County Tax Rate
1.00%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Linwood, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48634 | 0.34% | 0.43% | 0.47% | 0.59% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Linwood, Michigan
In Linwood, 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 Bay 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 Linwood, 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 Linwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Linwood are both $637, found in the 48634 zip code.
Average Linwood Assessed Value
$131,000
Average Bay County Assessed Value
$117,300
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Linwood, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48634 | $28,000 | $85,200 | $131,000 | $199,200 | $330,000 |
Source: Ownwell
Property Tax Bills Across Linwood, Michigan
In Linwood, Bay County, MI, property tax bills are calculated based on the assessed value of the property, which is typically half of the market value. For example, with a median home price of $131,000, the assessed value would be approximately $65,500. The property tax rate is then applied to this assessed value. Homeowners in Linwood can expect tax bills to vary significantly, with the 25th percentile paying around $394 and the 75th percentile paying up to $1,033. The highest median tax bill in the area is $637, which is consistent across the zip code 48634. Several factors influence the final tax bill, such as property improvements, neighborhood developments, and local government budgets. These taxes fund essential community services like schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Linwood's rates can be seen as relatively moderate, affecting homeowners by contributing to both their annual financial obligations and the quality of local amenities.
Average Linwood Tax Bill
$637
Average Bay County Tax Bill
$1,271
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Linwood, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48634 | $155 | $394 | $637 | $1,033 | $1,859 |
Source: Ownwell