Barryton, Michigan Property Taxes
The median property tax rate in Barryton, MI is 0.93%, slightly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Barryton at $124,900, the typical annual property tax bill is around $1,313, which is below the national median of $2,690. Property taxes in Barryton are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Barryton'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 Barryton or another part of Isabella County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Barryton, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$1,162
$1,078
Ownwell’s Barryton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Barryton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Barryton 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 Barryton, Michigan
Property taxes in Barryton, Michigan, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Barryton is 1.30%, higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Barryton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Barryton 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 Barryton's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49305 zip code has the highest median property tax rate of 1.30%, while the 49305 zip code has the lowest median tax rate of 1.30%. Understanding how these cities compare with Barryton provides valuable insights into the varying tax landscape across Isabella County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Barryton Tax Rate
0.93%
Average Isabella County Tax Rate
0.80%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barryton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49305 | 0.71% | 0.82% | 0.93% | 1.17% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Barryton, Michigan
In Barryton, 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 Isabella 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 Barryton, 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. For instance, the median home price in Barryton is $124,900, with property tax bills ranging from $864 at the 25th percentile to $2,381 at the 90th percentile. The zip code with the highest and lowest median tax bill is 49305 at $1,313. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Barryton Assessed Value
$124,900
Average Isabella County Assessed Value
$140,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Barryton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49305 | $45,400 | $81,750 | $124,900 | $182,350 | $235,200 |
Source: Ownwell
Property Tax Bills Across Barryton, Michigan
In Barryton, located in Isabella County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $124,900, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. Factors influencing the tax bill include property characteristics, local tax levies, and any applicable exemptions. Homeowners in Barryton might see tax bills around $864 at the 25th percentile, $1,720 at the 75th percentile, and up to $2,381 at the 90th percentile. These figures reflect the range of property values and tax rates within the area. Compared to the national median property tax rate of 0.99%, Barryton's property tax rates can significantly impact homeowners, influencing overall housing affordability and financial planning. The highest and lowest median tax bills in the area are both $1,313, indicating a relatively consistent tax landscape within the 49305 zip code.
Average Barryton Tax Bill
$1,313
Average Isabella County Tax Bill
$1,118
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Barryton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49305 | $506 | $864 | $1,313 | $1,720 | $2,381 |
Source: Ownwell