Horton, Michigan Property Taxes
The median property tax rate in Horton, MI is 0.43%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $224,200 in Horton, the typical annual property tax bill is $1,090, well below the national median of $2,690. Property taxes in Horton 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 Horton’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 Horton 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
Horton, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$964
$895
Ownwell’s Horton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Horton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Horton 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 Horton, Michigan
Property taxes in Horton, Michigan, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Horton is 0.43%, which is significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Horton set these rates annually, and they can vary across different neighborhoods. Each year, Horton 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 Horton's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49246 zip code has the highest median property tax rate of 0.43%, while the same zip code also has the lowest median tax rate of 0.43%. Understanding how these cities compare with Horton provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Horton Tax Rate
0.43%
Average Jackson County Tax Rate
0.86%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Horton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49246 | 0.32% | 0.37% | 0.43% | 0.74% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Horton, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Horton, Michigan. 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 Jackson 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 Horton, 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. For instance, the median home price in Horton is $224,200, with tax bills ranging from $657 at the 25th percentile to $3,410 at the 90th percentile. 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 Horton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Horton Assessed Value
$224,200
Average Jackson County Assessed Value
$149,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Horton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49246 | $109,200 | $148,000 | $224,200 | $359,200 | $525,840 |
Source: Ownwell
Property Tax Bills Across Horton, Michigan
In Horton, located in Jackson 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 median home price in Horton is $224,200. Homeowners in the area face property tax bills that can vary significantly. For instance, the tax bill at the 25th percentile is $657, while at the 75th percentile, it rises to $2004. The top 10% of property tax bills can reach up to $3410. Several factors influence the final tax bill, including the property's assessed value and the local tax rate. The assessed value is determined annually by the local assessor and reflects changes in the real estate market. For homeowners, this means that fluctuations in the housing market can directly impact their property tax obligations. Understanding these factors can help homeowners anticipate and manage their property tax expenses effectively. Compared to the national median property tax rate of 0.99%, Horton's rates provide a clear picture of the local tax landscape.
Average Horton Tax Bill
$1,090
Average Jackson County Tax Bill
$1,283
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Horton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49246 | $439 | $657 | $1,090 | $2,004 | $3,410 |
Source: Ownwell