Freeport, Ionia County, Michigan Property Taxes
The median property tax rate in Freeport, MI is 0.40%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $213,200 in Freeport, the typical annual property tax bill is $880, well below the national median of $2,690. Property taxes in Freeport are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Freeport's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Freeport 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
Freeport, Ionia County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$853
$791
Ownwell’s Freeport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Freeport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Freeport 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 Freeport, Ionia County, Michigan
Property taxes in Freeport, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Freeport is 0.40%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Freeport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Freeport 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. Understanding how these tax rates compare with other areas provides valuable insights into the varying tax landscape across Ionia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Freeport Tax Rate
0.40%
Average Ionia County Tax Rate
0.49%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Freeport, Ionia County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49325 | 0.25% | 0.34% | 0.40% | 0.43% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Freeport, Ionia County, Michigan
In Freeport, 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 Ionia 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 Freeport, 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 Freeport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Freeport is $213,200, with tax bills ranging from $559 at the 25th percentile to $1,230 at the 75th percentile. The highest and lowest median tax bills are both $880 in the 49325 zip code.
Property Tax Assessment Values Across Freeport, Ionia County, Michigan
Source: Ownwell
$68,800
$158,000
$247,200
Average Freeport Assessed Value
$213,200
Average Ionia County Assessed Value
$146,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Freeport, Ionia County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49325 | $103,100 | $154,100 | $213,200 | $303,450 | $397,860 |
Source: Ownwell
Property Tax Bills Across Freeport, Ionia County, Michigan
In Freeport, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is typically a percentage of the property's market value. For example, with a median home price of $213,200, homeowners can expect their tax bills to vary significantly. In Ionia County, tax bills at the 25th percentile are around $559, while those at the 75th percentile reach up to $1,230. The highest tax bills, in the 90th percentile, can be as much as $1,517. Factors influencing these tax bills include the home's location, size, and any local tax rates or exemptions that may apply. Compared to the national median property tax rate of 0.99%, Freeport's rates can vary but generally provide a range that reflects both lower and higher-end tax obligations. Understanding these factors helps homeowners anticipate their annual tax responsibilities and plan their finances accordingly.
Average Freeport Tax Bill
$880
Average Ionia County Tax Bill
$910
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Freeport, Ionia County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49325 | $377 | $559 | $880 | $1,230 | $1,517 |
Source: Ownwell