Saginaw, Michigan Property Taxes
The median property tax rate in Saginaw, MI is 0.79%, lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $147,900 in Saginaw, the typical annual property tax bill is approximately $1,171, which is below the national median of $2,690. Property taxes in Saginaw are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Saginaw'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 Saginaw or another part of the city, grasping the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Saginaw, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$1,168
Ownwell’s Saginaw Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saginaw with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saginaw 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 Saginaw, Michigan
Property taxes in Saginaw, Michigan, play a crucial role in financing essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saginaw is 1.74%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Saginaw set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saginaw 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 Saginaw's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48604 zip code has the highest median property tax rate of 1.76%, while the 48601 zip code has the lowest median tax rate of 1.56%. Understanding how these cities compare with Saginaw 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 Saginaw Tax Rate
0.79%
Average Bay County Tax Rate
1.00%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saginaw, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48601 | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
| 48604 | 0.62% | 0.71% | 0.82% | 0.93% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Saginaw, Michigan
In Saginaw, 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 Saginaw, 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. For instance, the median home price in Saginaw is $147,900, with tax bills ranging significantly. The highest median tax bill is $1,251 in the 48604 zip code, while the lowest is $263 in the 48601 zip code. 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 Saginaw Assessed Value
$147,900
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 Saginaw, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48601 | $54,900 | $54,900 | $54,900 | $54,900 | $54,900 |
| 48604 | $112,770 | $120,150 | $149,100 | $200,400 | $266,290 |
Source: Ownwell
Property Tax Bills Across Saginaw, Michigan
In Saginaw, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value generally aims to reflect 50% of the property's market value. Once the home's assessed value is established, the local tax rate is applied to calculate the tax bill. For instance, with a median home price of $147,900, homeowners can expect their tax bill to vary significantly. The 25th percentile tax bill is around $976, while the 75th percentile reaches $1,701, and the 90th percentile can go up to $2,015. The highest median tax bill in the area is $1,251 in the 48604 zip code, while the lowest is $263 in the 48601 zip code. These variances in tax bills can have a considerable impact on homeowners, influencing their overall cost of living and potentially affecting their financial planning. Understanding these factors helps residents anticipate their annual property tax obligations more accurately.
Average Saginaw Tax Bill
$1,171
Average Bay County Tax Bill
$1,271
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Saginaw, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48601 | $263 | $263 | $263 | $263 | $263 |
| 48604 | $839 | $1,017 | $1,251 | $1,702 | $2,031 |
Source: Ownwell