Fulton, Michigan Property Taxes
The median property tax rate in Fulton, MI is 0.35%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $149,600 in Fulton, the typical annual property tax bill amounts to $559, well below the national median of $2,690. Property taxes in Fulton are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Fulton'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 Fulton or another part of Kalamazoo County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fulton, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.35%
Estimate Property Tax Bill
$524
Ownwell’s Fulton Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Fulton. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Fulton to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, making financial planning simpler and more transparent. For those interested in more detailed information, neighborhood-level trends are available further down the page. Your property’s assessed value, determined by the county, is crucial for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Fulton, Michigan
Property taxes in Fulton, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fulton is 1.54%, significantly higher than both the Michigan state median of 1.31% and the U.S. national median of 0.99%. Local government entities within Fulton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fulton 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 Fulton's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49001 zip code has the highest median property tax rate of 2.25%, while the 49004 zip code has the lowest median tax rate of 1.31%. Understanding how these areas compare with Fulton provides valuable insights into the varying tax landscape across Kalamazoo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fulton Tax Rate
0.35%
Average Kalamazoo County Tax Rate
0.87%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fulton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49052 | 0.29% | 0.32% | 0.35% | 0.50% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Fulton, Michigan
In Fulton, 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 local assessment authority 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. Assessment notices in Fulton 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 Fulton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $559.00, found in the 49052 zip code.
Average Fulton Assessed Value
$149,600
Average Kalamazoo County Assessed Value
$197,650
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fulton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49052 | $76,920 | $109,200 | $149,600 | $218,000 | $308,840 |
Source: Ownwell
Property Tax Bills Across Fulton, Michigan
In Fulton, Kalamazoo County, MI, property tax bills are calculated based on the assessed value of your home, which is typically a percentage of its market value. The median home price in Fulton is $149,600. Property taxes are influenced by various factors, including local tax rates and any applicable exemptions or deductions. The assessed value is multiplied by the local tax rate to determine the annual tax bill. For homeowners in Fulton, property tax bills can vary significantly. The 25th percentile tax bill is around $367, while the 75th percentile reaches $896. At the higher end, the 90th percentile tax bill can be as much as $2,082. Comparatively, the median property tax rate nationally is 0.99%, providing a benchmark for evaluating local tax rates. These property taxes fund essential public services such as schools, roads, and emergency services, impacting the overall quality of life. Homeowners should be aware of their tax obligations and explore any available exemptions to potentially reduce their tax burden.
Average Fulton Tax Bill
$559
Average Kalamazoo County Tax Bill
$1,531
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Fulton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49052 | $255 | $367 | $559 | $896 | $2,082 |
Source: Ownwell