Owendale, Michigan Property Taxes
The median property tax rate in Owendale, MI is 0.94%, slightly below the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Owendale at $95,600, the typical annual property tax bill reaches $1,036, which is lower than the national median of $2,690. Property taxes in Owendale 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 Owendale'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 Owendale 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
Owendale, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$899
$834
Ownwell’s Owendale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Owendale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Owendale 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 Owendale, Michigan
Property taxes in Owendale, Michigan, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Owendale is 0.94%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Owendale set these rates annually, and they can vary across different neighborhoods. Each year, Owendale estimates its required budget to maintain services for the upcoming fiscal year. This budget is then divided 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 Owendale's effective property tax rate to other areas in Huron County and the national median. For comparison, the 48754 zip code has both the highest and lowest median property tax rate of 0.94%. Understanding how these areas compare with Owendale provides valuable insights into the varying tax landscape across Huron County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Owendale Tax Rate
0.94%
Average Huron County Tax Rate
1.19%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Owendale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48754 | 0.74% | 0.81% | 0.94% | 1.39% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Owendale, Michigan
In Owendale, 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 Huron 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 Owendale, 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 Owendale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Owendale are both $1,036, found in the 48754 zip code.
Average Owendale Assessed Value
$95,600
Average Huron County Assessed Value
$119,000
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Owendale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48754 | $45,280 | $68,900 | $95,600 | $145,400 | $219,200 |
Source: Ownwell
Property Tax Bills Across Owendale, Michigan
In Owendale, located in Huron County, MI, property tax bills are calculated based on the assessed value of your home, which is determined by local assessors. This value is typically a fraction of the market value. The tax rate, or millage rate, is then applied to this assessed value to determine your annual property tax bill. Factors that influence your property tax bill include the assessed value of your property, local tax rates, and any exemptions you may qualify for. For example, with a median home price of $95,600 in Owendale, homeowners can expect varying tax bills. The 25th percentile tax bill is around $696, while the 75th percentile tax bill is approximately $1,616. At the higher end, the 90th percentile tax bill reaches $2,106. Compared to the national median property tax rate of 0.99%, Owendale's tax rates can significantly impact homeowners' finances. Understanding these factors is crucial for homeowners to anticipate their annual property tax obligations and plan accordingly.
Average Owendale Tax Bill
$1,036
Average Huron County Tax Bill
$1,405
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Owendale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48754 | $459 | $696 | $1,036 | $1,616 | $2,106 |
Source: Ownwell