Mason, Michigan Property Taxes
The median property tax rate in Mason, MI is 1.61%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Mason, the typical annual property tax bill reaches $3,540, exceeding the national median of $2,690. Property taxes in Mason 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 Mason'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 Mason 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
Mason, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$3,362
Ownwell’s Mason Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mason with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mason 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 Mason, Michigan
Property taxes in Mason, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mason is 1.61%, significantly higher than the U.S. national median of 0.99%. Local government entities within Mason set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mason 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 Mason's effective property tax rate to other regions and the national median. For comparison, the zip code 48854 has the highest median property tax rate of 1.61%, while the same zip code also has the lowest median tax rate of 1.61%. Understanding how these values compare with Mason provides valuable insights into the varying tax landscape across Ingham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mason Tax Rate
1.61%
Average Ingham County Tax Rate
2.06%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mason, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48854 | 1.22% | 1.39% | 1.61% | 2.02% | 2.39% |
Source: Ownwell
Property Tax Assessment Values Across Mason, Michigan
In Mason, 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 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 Mason, 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 Mason helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $3,540 in zip code 48854.
Average Mason Assessed Value
$208,800
Average Ingham County Assessed Value
$152,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mason, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48854 | $83,040 | $148,800 | $208,800 | $287,600 | $398,664 |
Source: Ownwell
Property Tax Bills Across Mason, Michigan
In Mason, property tax bills are calculated based on the assessed value of the home, which is typically a percentage of the property's market value. The local tax rate is then applied to this assessed value to determine the tax bill. Factors such as the property's location within Ingham County, any applicable exemptions, and the specific tax rates set by local taxing authorities all play a role in determining the final amount owed. For homeowners, this means that a higher assessed value or a higher local tax rate will result in a larger tax bill. In Mason, the median home price is $208,800, and property tax bills can vary significantly. For example, the 25th percentile tax bill is $2,559, while the 75th percentile reaches $4,756, and the 90th percentile can be as high as $6,305. With the national median property tax rate at 0.99%, understanding how local assessments and rates compare can help homeowners anticipate their financial responsibilities.
Average Mason Tax Bill
$3,540
Average Ingham County Tax Bill
$3,019
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Mason, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48854 | $1,457 | $2,559 | $3,540 | $4,756 | $6,305 |
Source: Ownwell