Onondaga, Michigan Property Taxes
The median property tax rate in Onondaga, MI is 0.42%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Onondaga, the typical annual property tax bill amounts to $748, well below the national median of $2,690. Property taxes in Onondaga 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 Onondaga'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 Onondaga 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
Onondaga, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$783
$726
Ownwell’s Onondaga Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Onondaga with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Onondaga 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 Onondaga, Michigan
Property taxes in Onondaga, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Onondaga is 0.42%, significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Onondaga set these rates annually, and they can vary significantly across different neighborhoods. Each year, Onondaga 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 Onondaga's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49264 has the highest median property tax rate of 0.42%, while the same zip code also has the lowest median tax rate of 0.42%. Understanding how these cities compare with Onondaga 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 Onondaga Tax Rate
0.42%
Average Jackson County Tax Rate
0.86%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Onondaga, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49264 | 0.26% | 0.34% | 0.42% | 0.49% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Onondaga, Michigan
In Onondaga, 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 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 Onondaga, 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 Onondaga helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 49264, with a median bill of $748.
Average Onondaga Assessed Value
$186,400
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 Onondaga, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49264 | $102,800 | $147,400 | $186,400 | $245,800 | $312,400 |
Source: Ownwell
Property Tax Bills Across Onondaga, Michigan
In Onondaga, MI, property tax bills are calculated based on the assessed value of a home, which is typically determined by the local assessor's office. The assessed value is a percentage of the market value of the property. For instance, with a median home price of $186,400, the assessed value would be a fraction of this amount. Property tax rates are then applied to this assessed value to determine the final tax bill. Several factors influence the tax bill, including the property's location and any applicable exemptions. For homeowners in Onondaga, the tax bills vary significantly: the 25th percentile tax bill is $503, while the 75th percentile reaches $1,066, and the 90th percentile can go up to $1,412. These variations reflect differences in property values and applicable tax rates within the area. Compared to the national median property tax rate of 0.99%, Onondaga's tax rates can significantly impact homeowners, affecting their annual financial planning and overall cost of homeownership.
Average Onondaga Tax Bill
$748
Average Jackson County Tax Bill
$1,283
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Onondaga, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49264 | $313 | $503 | $748 | $1,066 | $1,412 |
Source: Ownwell