Metamora, Michigan Property Taxes
The median property tax rate in Metamora, MI is 0.36%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Metamora at $295,200, the typical annual property tax bill amounts to $1,176, well below the national median of $2,690. Property taxes in Metamora are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Metamora's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to considerable annual savings. Whether you're in the heart of Metamora or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Metamora, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$1,063
Ownwell’s Metamora Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Metamora with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Metamora 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 Metamora, Michigan
Property taxes in Metamora, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Metamora is 0.36%, lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Metamora set these rates annually, and they can vary significantly across different neighborhoods. Each year, Metamora 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 Metamora's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in the county is found in zip code 48446, with a rate of 1.45%, while the lowest median tax rate is in zip code 48428, at 0.32%. Understanding how these areas compare with Metamora 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 Metamora Tax Rate
0.36%
Average Lapeer County Tax Rate
0.37%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Metamora, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48455 | 0.29% | 0.32% | 0.36% | 0.44% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Metamora, Michigan
In Metamora, 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 Metamora, 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. The median home price in Metamora is $295,200, with the 25th percentile tax bill at $769 and the 75th percentile tax bill at $1,714. The highest median tax bill in the area is $1,176, found in the 48455 zip code, which also has the lowest median tax bill at the same value. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Metamora Assessed Value
$295,200
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 Metamora, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48455 | $60,440 | $188,000 | $295,200 | $430,400 | $615,960 |
Source: Ownwell
Property Tax Bills Across Metamora, Michigan
In Metamora, located in Lapeer County, MI, property tax bills are calculated based on the assessed value of a property, which is typically determined by local assessors. This assessed value is a percentage of the market value of the home. For example, the median home price in Metamora is $295,200. The property tax rate is then applied to this assessed value to determine the annual tax bill. Homeowners in Metamora can expect a wide range of tax bills. For instance, the tax bill at the 25th percentile is $769, while at the 75th percentile, it is $1714. At the 90th percentile, the tax bill can go up to $2509. These variations depend on factors such as property size, location, and any applicable exemptions or deductions. Comparatively, the national median property tax rate is 0.99%, indicating that Metamora's rates are competitive. Understanding these factors is crucial for homeowners as it affects their annual financial planning and overall property investment.
Average Metamora Tax Bill
$1,176
Average Lapeer County Tax Bill
$858
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Metamora, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48455 | $437 | $769 | $1,176 | $1,714 | $2,509 |
Source: Ownwell