Horton, Michigan Property Taxes
The median property tax rate in Horton, MI is 0.39%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Horton, the typical annual property tax bill is $598, far below the national median of $2,690. Property taxes in Horton are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Horton’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 Horton 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
Horton, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$610
Ownwell’s Horton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Horton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Horton 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 Horton, Michigan
Property taxes in Horton, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Horton is 1.37%, higher than both the Michigan state median of 1.31% and the U.S. national median of 0.99%. Local government entities within Horton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Horton 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 Horton's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49033 zip code has the highest median property tax rate of 1.37%, while the 49242 zip code has the lowest median tax rate of 1.31%. Understanding how these cities compare with Horton provides valuable insights into the varying tax landscape across Hillsdale County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Horton Tax Rate
0.39%
Average Hillsdale County Tax Rate
0.41%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Horton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49246 | 0.28% | 0.30% | 0.39% | 0.48% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Horton, Michigan
In Horton, 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 Hillsdale 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 Horton, 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 Horton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Horton is $156,299, with the highest and lowest median tax bills both recorded at $598 in the 49246 zip code.
Average Horton Assessed Value
$156,299
Average Hillsdale County Assessed Value
$141,139
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Horton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49246 | $48,205 | $94,297 | $156,299 | $252,718 | $326,972 |
Source: Ownwell
Property Tax Bills Across Horton, Michigan
In Horton, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For Hillsdale County, where Horton is located, homeowners experience property tax bills that vary significantly. The median home price in Horton is $156,299. Homeowners in the 25th percentile see tax bills around $374, while those in the 75th percentile pay about $964. At the 90th percentile, tax bills can reach up to $1,634. Several factors influence these tax bills, including the local tax rate and the assessed value of the property. The local tax rate is applied to the assessed value to determine the annual tax bill. This system ensures that homeowners contribute to local services such as schools, public safety, and infrastructure based on the value of their property. Compared to the national median property tax rate of 0.99%, Horton’s property tax rates and bills reflect the specific economic and policy environment of Hillsdale County, impacting homeowners' financial planning and community contributions.
Average Horton Tax Bill
$598
Average Hillsdale County Tax Bill
$685
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Horton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49246 | $187 | $374 | $598 | $964 | $1,634 |
Source: Ownwell