Howell, Michigan Property Taxes
The median property tax rate in Howell, MI is 0.84%, which is lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Howell at $299,800, the typical annual property tax bill amounts to $2,575, falling below the national median of $2,690. Property taxes in Howell are calculated based on the tax assessed value, which usually is lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Howell'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 Howell or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Howell, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$2,518
$2,337
Ownwell’s Howell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Howell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Howell 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 Howell, Michigan
Property taxes in Howell, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Howell is 0.84%, which is lower than the Michigan state median and the U.S. national median of 0.99%. Local government entities within Howell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Howell 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 Howell's effective property tax rate to other areas in Michigan and the national median. For comparison, the 48843 zip code has the highest median property tax rate of 0.85%, while the 48855 zip code has the lowest median tax rate of 0.79%. Understanding how these areas compare with Howell provides valuable insights into the varying tax landscape across Livingston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Howell Tax Rate
0.84%
Average Livingston County Tax Rate
0.91%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Howell, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48843 | 0.59% | 0.72% | 0.85% | 0.98% | 1.17% |
| 48855 | 0.54% | 0.68% | 0.79% | 0.95% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Howell, Michigan
In Howell, 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 Livingston 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 Howell, 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. The highest median tax bill in Howell is $2,671 in the 48843 zip code, while the lowest median tax bill is $2,355 in the 48855 zip code. Being aware of these valuation processes in Howell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Howell Assessed Value
$299,800
Average Livingston County Assessed Value
$315,781
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Howell, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48843 | $155,775 | $226,400 | $304,600 | $387,600 | $492,200 |
| 48855 | $160,600 | $227,200 | $290,600 | $372,140 | $482,799 |
Source: Ownwell
Property Tax Bills Across Howell, Michigan
In Howell, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as the property's location, size, and condition, along with local government budgets and school district funding needs, influence the assessed value. For homeowners in Howell, the median home price stands at $299,800. Property tax bills can vary significantly, with the 25th percentile at $1,859 and the 75th percentile reaching $3,487. The highest median tax bill in the area is $2,671 in the 48843 zip code, while the lowest is $2,355 in the 48855 zip code. Compared to the national median property tax rate of 0.99%, Howell's rates can affect homeowners' financial planning, making it crucial to understand how these taxes are computed and what they mean for long-term property expenses.
Average Howell Tax Bill
$2,575
Average Livingston County Tax Bill
$2,949
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Howell, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48843 | $1,306 | $1,922 | $2,671 | $3,564 | $4,684 |
| 48855 | $1,128 | $1,733 | $2,355 | $3,228 | $4,291 |
Source: Ownwell