Britton, Lenawee County, Michigan Property Taxes
The median property tax rate in Britton, MI is 1.04%, slightly above the national median of 0.99% but below the Michigan state median of 1.07%. With the median home value in Britton at $208,800, the typical annual property tax bill is $2,254, which is lower than the national median of $2,690. Property taxes in Britton are calculated based on the assessed value, which is often below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Britton'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 Britton 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
Britton, Lenawee County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$2,172
$2,015
Ownwell’s Britton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Britton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Britton 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 Britton, Lenawee County, Michigan
Property taxes in Britton, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Britton is 1.04%, slightly higher than the U.S. national median of 0.99%. Local government entities within Britton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Britton 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 Britton's effective property tax rate to other areas in Lenawee County and the national median. For comparison, the zip code 49229 has both the highest and lowest median property tax rate of 1.04%. Understanding how these areas compare with Britton provides valuable insights into the varying tax landscape across Lenawee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Britton Tax Rate
1.04%
Average Lenawee County Tax Rate
1.14%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Britton, Lenawee County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49229 | 0.71% | 0.94% | 1.04% | 1.18% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Britton, Lenawee County, Michigan
In Britton, 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 Lenawee County Assessment Office 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 Britton, 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 Britton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Britton are both $2,254, found in the 49229 zip code.
Property Tax Assessment Values Across Britton, Lenawee County, Michigan
Source: Ownwell
$69,300
$158,150
$247,000
Average Britton Assessed Value
$208,800
Average Lenawee County Assessed Value
$168,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Britton, Lenawee County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49229 | $99,920 | $148,400 | $208,800 | $294,600 | $392,120 |
Source: Ownwell
Property Tax Bills Across Britton, Lenawee County, Michigan
In Britton, located in Lenawee County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is typically a percentage of the property's market value. The tax rate, applied to this assessed value, determines the final tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions or deductions. In Britton, the median home price is $208,800, which serves as a benchmark for calculating property taxes. Homeowners in the 25th percentile can expect tax bills around $1,566, while those in the 75th percentile may see bills closer to $3,070. At the 90th percentile, tax bills can reach up to $4,071. These property taxes directly impact homeowners by affecting their annual expenses and potentially influencing property values. Compared to the national median property tax rate of 0.99%, Britton's property tax rates reflect the local economic conditions and funding needs for public services.
Average Britton Tax Bill
$2,254
Average Lenawee County Tax Bill
$2,184
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Britton, Lenawee County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49229 | $1,092 | $1,566 | $2,254 | $3,070 | $4,071 |
Source: Ownwell