Burt, Michigan Property Taxes
The median property tax rate in Burt, MI is 0.34%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $160,000 in Burt, the typical annual property tax bill amounts to $594, which is well below the national median of $2,690. Property taxes in Burt 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 Burt'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 Burt 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
Burt, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$544
Ownwell’s Burt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Burt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burt 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 Burt, Michigan
Property taxes in Burt, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burt is 1.78%, significantly higher than both the Michigan state median of 1.62% and the U.S. national median of 0.99%. Local government entities within Burt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burt 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 Burt's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48423 zip code has the highest median property tax rate of 2.21%, while the 48457 zip code has the lowest median tax rate of 1.04%. Understanding how these cities compare with Burt provides valuable insights into the varying tax landscape across Genesee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burt Tax Rate
0.34%
Average Genesee County Tax Rate
0.93%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burt, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48417 | 0.31% | 0.34% | 0.34% | 0.39% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Burt, Michigan
In Burt, 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 Genesee 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 Burt, 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. For example, the median home price in Burt is $160,000, with tax bills ranging from $548 at the 25th percentile to $950 at the 90th percentile. The highest and lowest median tax bills are both $594, found in zip code 48417. 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 Burt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Burt Assessed Value
$160,000
Average Genesee County Assessed Value
$139,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burt, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48417 | $143,520 | $148,200 | $160,000 | $174,600 | $240,960 |
Source: Ownwell
Property Tax Bills Across Burt, Michigan
In Burt, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is typically a percentage of the home's market value. For instance, if a home has a market value of $160,000, its assessed value might be a fraction of that amount, depending on local regulations. Once the assessed value is established, the local tax rate is applied to calculate the property tax bill. Several factors influence the final tax bill, including property location, local tax rates, and any applicable exemptions or deductions. In Burt, homeowners experience a range of property tax bills, with the 25th percentile at $548 and the 75th percentile at $920. The highest median tax bill in the area is $594, while the lowest is also $594, indicating a consistent tax rate across different zip codes. Understanding how these factors interplay is crucial for homeowners, as property taxes can significantly impact annual expenses and overall housing affordability.
Average Burt Tax Bill
$594
Average Genesee County Tax Bill
$1,090
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Burt, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48417 | $473 | $548 | $594 | $920 | $950 |
Source: Ownwell