Holt, Eaton County, Michigan Property Taxes
The median property tax rate in Holt, MI is 0.45%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Holt at $322,000, the typical annual property tax bill reaches $1,464, which is well below the national median of $2,690. Property taxes in Holt 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 Holt'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 Holt or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Holt, Eaton County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$1,449
$1,345
Ownwell’s Holt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holt 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 Holt, Eaton County, Michigan
Property taxes in Holt, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holt is 0.45%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Holt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holt 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 Holt's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 48842 in Holt has the highest median property tax rate of 0.45%, while the same zip code also has the lowest median tax rate of 0.45%. Understanding how these cities compare with Holt provides valuable insights into the varying tax landscape across Eaton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Holt Tax Rate
0.45%
Average Eaton County Tax Rate
0.81%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holt, Eaton County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48842 | 0.40% | 0.41% | 0.45% | 0.49% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Holt, Eaton County, Michigan
In Holt, 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 Eaton 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 Holt, 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 Holt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Holt is $1,464 in the 48842 zip code, while the lowest median tax bill is also $1,464 in the same zip code.
Property Tax Assessment Values Across Holt, Eaton County, Michigan
Source: Ownwell
$131,400
$226,700
$322,000
Average Holt Assessed Value
$322,000
Average Eaton County Assessed Value
$184,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Holt, Eaton County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48842 | $175,100 | $224,900 | $322,000 | $397,100 | $419,120 |
Source: Ownwell
Property Tax Bills Across Holt, Eaton County, Michigan
In Holt, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For a median home price of $322,000, the tax bill can vary significantly. The 25th percentile tax bill is $1,016, while the 75th percentile reaches $1,657, and the 90th percentile peaks at $1,866. These figures are influenced by various factors including the property's location within Eaton County, local tax rates, and any applicable exemptions or deductions. Homeowners in Holt should be aware that the assessed value is subject to periodic reassessments, which can affect their annual tax obligations. Compared to the national median property tax rate of 0.99%, Holt's property taxes can be more or less burdensome depending on specific circumstances. It's crucial for homeowners to understand these factors as they directly impact their financial planning and the overall cost of homeownership in the area.
Average Holt Tax Bill
$1,464
Average Eaton County Tax Bill
$1,470
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Holt, Eaton County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48842 | $760 | $1,016 | $1,464 | $1,657 | $1,866 |
Source: Ownwell