Tekonsha, Michigan Property Taxes
The median property tax rate in Tekonsha, MI is 0.38%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $138,600 in Tekonsha, the typical annual property tax bill is approximately $494, far below the national median of $2,690. Property taxes in Tekonsha are calculated based on the tax assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Tekonsha'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 Tekonsha or another part of Branch County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tekonsha, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$527
Ownwell’s Tekonsha Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tekonsha with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tekonsha 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 Tekonsha, Michigan
Property taxes in Tekonsha, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tekonsha is 0.38%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Tekonsha set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tekonsha 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 Tekonsha's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in Michigan is found in ZIP code 48009 with a rate of 2.1%, while the lowest median tax rate is in ZIP code 49858 with a rate of 0.28%. Understanding how these cities compare with Tekonsha provides valuable insights into the varying tax landscape across Branch County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tekonsha Tax Rate
0.38%
Average Branch County Tax Rate
0.40%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tekonsha, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49092 | 0.24% | 0.30% | 0.38% | 0.41% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Tekonsha, Michigan
In Tekonsha, 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 Branch 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 Tekonsha, 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 is around $138,600, with tax bills varying widely. For example, the 25th percentile tax bill is $284, while the 75th percentile tax bill is $750, and the 90th percentile tax bill reaches $1,098. Notably, the highest and lowest median tax bills are both $494 in zip code 49092. 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 Tekonsha Assessed Value
$138,600
Average Branch County Assessed Value
$130,544
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tekonsha, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49092 | $35,760 | $74,500 | $138,600 | $206,100 | $306,250 |
Source: Ownwell
Property Tax Bills Across Tekonsha, Michigan
In Tekonsha, located in Branch County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, with a median home price of $138,600, the assessed value is determined by local assessors and then multiplied by the local tax rate. Homeowners in Tekonsha can expect a range of tax bills, with the 25th percentile at $284 and the 75th percentile at $750. The highest median tax bill in the area is $494, which is consistent across the zip code 49092. These tax bills are influenced by various factors, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Tekonsha's rates can be seen as relatively moderate, impacting homeowners by providing necessary funds for local services like schools and infrastructure while maintaining affordability. This balanced approach ensures that residents contribute fairly to community resources without facing excessive financial burdens.
Average Tekonsha Tax Bill
$494
Average Branch County Tax Bill
$638
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Tekonsha, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49092 | $131 | $284 | $494 | $750 | $1,098 |
Source: Ownwell