Kenton, Michigan Property Taxes
The median property tax rate in Kenton, MI is 0.99%, aligning precisely with the national median of 0.99% but slightly lower than the Michigan state median of 1.07%. With a median home value of $58,056 in Kenton, the typical annual property tax bill is $541, which is substantially lower than the national median of $2,690. Property taxes in Kenton are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Kenton'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 Kenton or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kenton, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$575
Ownwell’s Kenton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kenton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kenton 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 Kenton, Michigan
Property taxes in Kenton, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kenton is 0.99%, aligning with both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Kenton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kenton 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 Kenton's effective property tax rate to other areas in Michigan and the national median. For comparison, the 49967 zip code has both the highest and lowest median property tax rate of 0.99%. Understanding how these areas compare with Kenton provides valuable insights into the varying tax landscape across Houghton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kenton Tax Rate
0.99%
Average Houghton County Tax Rate
0.94%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kenton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49967 | 0.50% | 0.69% | 0.99% | 1.46% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across Kenton, Michigan
In Kenton, 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 Houghton 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 Kenton, 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. Notably, the median home price in Kenton is $58,056, with tax bills ranging from $360 at the 25th percentile to $1,159 at the 90th percentile. The highest and lowest median tax bills are both $541 in the 49967 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kenton Assessed Value
$58,056
Average Houghton County Assessed Value
$95,531
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kenton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49967 | $21,163 | $36,802 | $58,056 | $83,622 | $114,548 |
Source: Ownwell
Property Tax Bills Across Kenton, Michigan
In Kenton, MI, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $58,056, the assessed value is used to determine the tax bill. The local tax rate is applied to this assessed value to calculate the annual property tax. Factors such as property location, improvements, and market conditions are considered during assessment. Homeowners in Kenton typically see a range of property tax bills. At the 25th percentile, tax bills are around $360, while those in the 75th percentile can be as high as $853. The 90th percentile tax bill reaches $1,159. Compared to the national median property tax rate of 0.99%, Kenton's tax rates reflect the local economic conditions and property values. These taxes fund essential community services like schools, roads, and public safety, directly impacting the quality of life for residents. Understanding these elements helps homeowners anticipate their financial commitments and plan accordingly.
Average Kenton Tax Bill
$541
Average Houghton County Tax Bill
$879
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Kenton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49967 | $228 | $360 | $541 | $853 | $1,159 |
Source: Ownwell