Mount Morris, Michigan Property Taxes
The median property tax rate in Mount Morris, MI is 0.39%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $80,800 in Mount Morris, the typical annual property tax bill is $375, which is well below the national median of $2,690. Property taxes in Mount Morris are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Mount Morris'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 Mount Morris 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
Mount Morris, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$315
Ownwell’s MOUNT MORRIS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MOUNT MORRIS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MOUNT MORRIS 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 Mount Morris, Michigan
Property taxes in Mount Morris, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Morris is 0.39%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Mount Morris set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Morris 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 Mount Morris's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in the region is found in ZIP code 48507 with a rate of 2.10%, while ZIP code 48458 has the lowest median tax rate of 0.39%. Understanding how these cities compare with Mount Morris 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 Mount Morris Tax Rate
0.39%
Average Genesee County Tax Rate
0.93%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Morris, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48458 | 0.29% | 0.34% | 0.39% | 0.57% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Mount Morris, Michigan
In Mount Morris, 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 Mount Morris, 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 Mount Morris helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $375 in the 48458 zip code, which is also the lowest median tax bill.
Average Mount Morris Assessed Value
$80,800
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 Mount Morris, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48458 | $11,180 | $34,050 | $80,800 | $126,400 | $184,000 |
Source: Ownwell
Property Tax Bills Across Mount Morris, Michigan
In Mount Morris, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value typically represents a percentage of the property's market value. For homeowners, this means that the higher the market value of their property, the higher their assessed value and, consequently, their property tax bill. The median home price in Mount Morris is $80,800, with property tax bills varying significantly across different percentiles. For instance, the 25th percentile tax bill is $144, while the 75th percentile tax bill is $656. At the 90th percentile, homeowners can expect to pay around $1,050. Compared to the national median property tax rate of 0.99%, the tax rates in Mount Morris can result in relatively modest tax bills, depending on the home's assessed value. These taxes fund essential public services, such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents.
Average Mount Morris Tax Bill
$375
Average Genesee County Tax Bill
$1,090
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Morris, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48458 | $80 | $144 | $375 | $656 | $1,050 |
Source: Ownwell