Mayville, Michigan Property Taxes
The median property tax rate in Mayville, MI is 0.33%, significantly lower than both the national median of 0.99% and Michigan's state median of 1.07%. With a median home value of $181,000 in Mayville, the typical annual property tax bill amounts to $598, well below the national median of $2,690. Property taxes in Mayville 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 Mayville'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 Mayville 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
Mayville, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.33%
Estimate Property Tax Bill
$597
$554
Ownwell’s Mayville Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mayville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mayville to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. 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 Mayville, Michigan
Property taxes in Mayville, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mayville is 1.42%, significantly higher than both the Michigan state median of 1.31% and the U.S. national median of 0.99%. Local government entities within Mayville set these rates annually, leading to potential variations across different neighborhoods. Each year, Mayville 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 Mayville's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in Michigan is found in Oakland County at 2.21%, while the lowest median tax rate is in Luce County at 0.83%. Understanding how these counties compare with Mayville provides valuable insights into the varying tax landscape across Lapeer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mayville Tax Rate
0.33%
Average Lapeer County Tax Rate
0.37%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mayville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48744 | 0.27% | 0.29% | 0.33% | 0.41% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Mayville, Michigan
In Mayville, 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 Lapeer 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 Mayville, 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 Mayville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Mayville both stand at $598, specifically in the 48744 zip code.
Average Mayville Assessed Value
$181,000
Average Lapeer County Assessed Value
$215,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mayville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48744 | $49,020 | $118,250 | $181,000 | $244,950 | $296,060 |
Source: Ownwell
Property Tax Bills Across Mayville, Michigan
In Mayville, located in Lapeer County, MI, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by local assessors and typically represents a percentage of the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. In Mayville, the median home price is $181,000, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $392, while the 75th percentile tax bill is $830, and the 90th percentile tax bill reaches $1,016. These tax bills reflect the essential services funded by property taxes, such as public education, infrastructure, and emergency services. Homeowners in Mayville may find their tax bills higher or lower than the national median property tax rate of 0.99%, depending on their property's assessed value and the applicable local tax rates. Understanding these factors can help homeowners anticipate their property tax obligations and budget accordingly.
Average Mayville Tax Bill
$598
Average Lapeer County Tax Bill
$858
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Mayville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48744 | $194 | $392 | $598 | $830 | $1,016 |
Source: Ownwell