Port Austin, Michigan Property Taxes
The median property tax rate in Port Austin, MI is 1.38%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Port Austin at $157,100, the typical annual property tax bill reaches $1,782, which is below the national median of $2,690. Property taxes in Port Austin are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Port Austin'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 Port Austin 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
Port Austin, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.38%
Estimate Property Tax Bill
$2,168
Ownwell’s Port Austin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Port Austin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Port Austin 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 Port Austin, Michigan
Property taxes in Port Austin, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Port Austin is 1.38%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Port Austin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Port Austin 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 Port Austin's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48467 zip code has the highest median property tax rate of 1.38%, while the same zip code also has the lowest median tax rate of 1.38%. Understanding how these cities compare with Port Austin 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 Port Austin Tax Rate
1.38%
Average Huron County Tax Rate
1.19%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Port Austin, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48467 | 0.78% | 0.96% | 1.38% | 1.67% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Port Austin, Michigan
In Port Austin, 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 local appraisal authority 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 Port Austin, 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 Port Austin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Port Austin are both $1,782, found in zip code 48467.
Average Port Austin Assessed Value
$157,100
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 Port Austin, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48467 | $38,100 | $91,300 | $157,100 | $250,200 | $394,500 |
Source: Ownwell
Property Tax Bills Across Port Austin, Michigan
Property tax bills in Port Austin, located in Huron County, MI, are determined by assessing the value of a property and applying the local tax rate. The assessed value is typically a percentage of the market value of the home. For example, with a median home price of $157,100, the tax bill can vary significantly depending on the assessed value and applicable exemptions. The 25th percentile tax bill in Port Austin is $1,039, while the 75th percentile reaches $3,158, and the 90th percentile can go up to $5,599. These property tax bills are influenced by factors such as property size, location, and any applicable exemptions or deductions. Homeowners in Port Austin may find their tax bills above or below the national median property tax rate of 0.99%, depending on these factors. Understanding how property taxes are calculated helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Port Austin Tax Bill
$1,782
Average Huron County Tax Bill
$1,405
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Port Austin, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48467 | $549 | $1,039 | $1,782 | $3,158 | $5,599 |
Source: Ownwell