Fenton, Michigan Property Taxes
The median property tax rate in Fenton, MI is 0.58%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Fenton at $244,600, the typical annual property tax bill is $1,768, which is well below the national median of $2,690. Property taxes in Fenton are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Fenton'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 Fenton 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
Fenton, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$1,419
Ownwell’s Fenton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Fenton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fenton 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 Fenton, Michigan
Property taxes in Fenton, Michigan, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Fenton is 0.58%, which is lower than the U.S. national median of 0.99%. Local government entities within Fenton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fenton 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 Fenton's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48430 zip code has the highest median property tax rate of 0.58%, while the same zip code also has the lowest median tax rate of 0.58%. Understanding how these cities compare with Fenton 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 Fenton Tax Rate
0.58%
Average Genesee County Tax Rate
0.93%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fenton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48430 | 0.35% | 0.41% | 0.58% | 1.08% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Fenton, Michigan
In Fenton, 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 Fenton, 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 Fenton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Fenton are both $1,768 in the 48430 zip code.
Average Fenton Assessed Value
$244,600
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 Fenton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48430 | $133,040 | $176,800 | $244,600 | $349,800 | $582,360 |
Source: Ownwell
Property Tax Bills Across Fenton, Michigan
In Fenton, located in Genesee County, MI, property tax bills are calculated based on the assessed value of a home, which is typically 50% of its market value. The local property tax rate is applied to this assessed value to determine the annual tax bill. For example, with a median home price of $244,600, homeowners can expect their assessed value to be around $122,300. Applying the local tax rate, the tax bill can range significantly. Factors such as property size, location, and improvements can influence the assessed value, thus affecting the tax bill. In Fenton, tax bills vary widely, with the 25th percentile at $1,149 and the 75th percentile at $2,641, reflecting the diversity in property values and assessments. The highest median tax bill in the area is $1,768, found in the 48430 zip code. These property tax bills impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, ensuring a well-maintained community.
Average Fenton Tax Bill
$1,768
Average Genesee County Tax Bill
$1,090
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Fenton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48430 | $709 | $1,149 | $1,768 | $2,641 | $3,826 |
Source: Ownwell