Oden, Michigan Property Taxes
The median property tax rate in Oden, MI is 0.68%, considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Oden, the typical annual property tax bill reaches $1,090, well below the national median of $2,690. Property taxes in Oden 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 Oden'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 Oden 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
Oden, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$1,216
Ownwell’s Oden Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oden 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 Oden, Michigan
Property taxes in Oden, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oden is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Oden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oden 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 Oden's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49764 has the highest median property tax rate of 0.68%, while the same zip code 49764 also has the lowest median tax rate of 0.68%. Understanding how these cities compare with Oden 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 Oden Tax Rate
0.68%
Average Emmet County Tax Rate
0.97%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oden, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49764 | 0.62% | 0.65% | 0.68% | 1.01% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Oden, Michigan
In Oden, 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 Oden, 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 Oden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Oden is $178,800, with the 25th percentile tax bill at $1,030 and the 75th percentile tax bill at $1,930. The highest and lowest median tax bills are both $1,090, found in the zip code 49764.
Average Oden Assessed Value
$178,800
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 Oden, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49764 | $149,520 | $160,500 | $178,800 | $193,600 | $202,480 |
Source: Ownwell
Property Tax Bills Across Oden, Michigan
In Oden, MI, property tax bills are determined based on the assessed value of a home, which is typically half of its market value. For instance, with a median home price of $178,800, the assessed value would be approximately $89,400. The local tax rate is then applied to this assessed value to calculate the tax bill. In Emmet County, where Oden is located, tax bills can vary significantly. For example, the 25th percentile tax bill is $1,030, while the 75th percentile tax bill reaches $1,930, and the 90th percentile tax bill is $2,434. These figures show a range of tax burdens that can affect homeowners differently based on their property's assessed value and the local tax rate. Comparatively, the national median property tax rate is 0.99%, highlighting that Oden's property tax rates are competitive. Homeowners in Oden should be aware of these factors as they significantly impact annual tax obligations and overall homeownership costs.
Average Oden Tax Bill
$1,090
Average Emmet County Tax Bill
$2,560
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Oden, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49764 | $994 | $1,030 | $1,090 | $1,930 | $2,434 |
Source: Ownwell