Brutus, Michigan Property Taxes
The median property tax rate in Brutus, MI is 0.83%, notably lower than both the national median of 0.99% and Michigan's state median of 1.07%. With a median home value of $162,900 in Brutus, the typical annual property tax bill amounts to $1,509, significantly below the national median of $2,690. Property taxes in Brutus are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Brutus'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 Brutus or another part of Emmet County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brutus, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,352
Ownwell’s Brutus Property Tax Bill Calculator is designed to help homeowners, real estate investors, and potential buyers estimate their annual property taxes in Brutus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brutus to provide an estimate of your property tax bill. This valuable tool offers insight into potential tax liabilities, aiding in financial planning and decision-making. For those interested in more granular trends, additional localized information is available. Your property’s assessed value is determined by the county and is used for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Brutus, Michigan
Property taxes in Brutus, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brutus is 0.83%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Brutus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brutus 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 Brutus's effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 49716 has the highest median property tax rate of 0.83%, while the same zip code also has the lowest median tax rate of 0.83%. Understanding how these areas compare with Brutus provides valuable insights into the varying tax landscape across Emmet County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brutus Tax Rate
0.83%
Average Emmet County Tax Rate
0.97%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brutus, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49716 | 0.68% | 0.74% | 0.83% | 1.06% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Brutus, Michigan
In Brutus, 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 Emmet 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 Brutus, 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 Brutus helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Brutus is $1509, found in the 49716 zip code, which also has the lowest median tax bill at $1509.
Average Brutus Assessed Value
$162,900
Average Emmet County Assessed Value
$259,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brutus, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49716 | $60,540 | $113,500 | $162,900 | $255,850 | $362,800 |
Source: Ownwell
Property Tax Bills Across Brutus, Michigan
In Brutus, located in Emmet 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, a home with a median price of $162,900 will have its assessed value determined by local assessment practices. The tax rate is then applied to this assessed value to calculate the annual property tax bill. Several factors influence the tax bill, including local tax rates, property improvements, and any applicable exemptions. Homeowners in Brutus can expect a wide range of tax bills. The 25th percentile tax bill is around $972, while the 75th percentile reaches $2,143, and the 90th percentile can go up to $3,509. The median tax bill in the area is $1,509, which is above the national median property tax rate of 0.99%. These property taxes significantly impact homeowners, affecting their annual budgets and overall cost of homeownership. Understanding these factors helps homeowners plan better and potentially seek exemptions or appeals to reduce their tax burden.
Average Brutus Tax Bill
$1,509
Average Emmet County Tax Bill
$2,560
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Brutus, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49716 | $705 | $972 | $1,509 | $2,143 | $3,509 |
Source: Ownwell