Potterville, Michigan Property Taxes
The median property tax rate in Potterville, MI is 1.43%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Potterville at $149,200, the typical annual property tax bill reaches $1,597, which is lower than the national median of $2,690. Property taxes in Potterville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Potterville'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 Potterville 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
Potterville, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$2,134
$1,980
Ownwell’s Potterville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Potterville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Potterville 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 Potterville, Michigan
Property taxes in Potterville, Michigan, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Potterville is 1.43%, which is significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Potterville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Potterville 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 Potterville's effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 48876 has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these areas compare with Potterville 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 Potterville Tax Rate
1.43%
Average Eaton County Tax Rate
0.81%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Potterville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48876 | 0.50% | 0.75% | 1.43% | 1.76% | 1.99% |
Source: Ownwell
Property Tax Assessment Values Across Potterville, Michigan
In Potterville, 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 Potterville, 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 Potterville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Potterville stands at $149,200, with the highest and lowest median tax bills both recorded at $1,597 in the 48876 zip code.
Average Potterville Assessed Value
$149,200
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 Potterville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48876 | $2,200 | $39,100 | $149,200 | $213,550 | $273,500 |
Source: Ownwell
Property Tax Bills Across Potterville, Michigan
In Potterville, Eaton County, MI, property tax bills are calculated based on the assessed value of your home, which is determined by the local tax assessor. The assessed value typically reflects a percentage of the market value of your property. For instance, with a median home price of $149,200, the tax bill can vary significantly depending on the specific assessment and tax rate applied. Factors influencing your tax bill include the property’s assessed value, local tax rates, and any applicable exemptions or deductions. In Potterville, the tax bill at the 25th percentile is around $523, while at the 75th percentile, it climbs to $2,660. The highest median tax bill in the area is $1,597, which is notably higher than the national median property tax rate of 0.99%. These property taxes are crucial for funding local services such as schools, roads, and emergency services, directly impacting the quality of life and community resources available to homeowners. Understanding these factors helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Potterville Tax Bill
$1,597
Average Eaton County Tax Bill
$1,470
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Potterville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48876 | $35 | $523 | $1,597 | $2,660 | $3,652 |
Source: Ownwell