Brethren, Michigan Property Taxes
The median property tax rate in Brethren, MI is 1.22%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Brethren, the typical annual property tax bill reaches $1,262, which is below the national median of $2,690. Property taxes in Brethren are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Brethren'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 Brethren 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
Brethren, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$1,285
Ownwell’s Brethren Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brethren with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brethren 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 Brethren, Michigan
Property taxes in Brethren, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brethren is 1.22%, significantly higher than the U.S. national median of 0.99%. Local government entities within Brethren set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brethren 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 Brethren's effective property tax rate to other areas and the national median. For comparison, the zip code 49619 has the highest median property tax rate of 1.22%, while the same zip code also has the lowest median tax rate of 1.22%. Understanding how these areas compare with Brethren provides valuable insights into the varying tax landscape across Manistee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brethren Tax Rate
1.22%
Average Manistee County Tax Rate
1.18%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brethren, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49619 | 0.79% | 0.95% | 1.22% | 1.64% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Brethren, Michigan
In Brethren, 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 Manistee 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 Brethren, 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 Brethren helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Brethren is $105,300, with the 25th percentile tax bill at $799 and the 75th percentile at $1,914. The zip code 49619 has both the highest and lowest median tax bill at $1,262.
Average Brethren Assessed Value
$105,300
Average Manistee County Assessed Value
$141,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brethren, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49619 | $35,400 | $59,150 | $105,300 | $177,250 | $252,400 |
Source: Ownwell
Property Tax Bills Across Brethren, Michigan
In Brethren, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $105,300, the assessed value plays a crucial role in calculating the annual tax bill. Homeowners in Brethren typically see tax bills ranging from $799 at the 25th percentile to $2,806 at the 90th percentile. The median tax bill in the area is $1,262, which is notably higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including property location, improvements made to the property, and local government budgets. These taxes fund essential services such as public schools, infrastructure, and emergency services, directly impacting the community's quality of life. Homeowners need to be aware of these factors as they can significantly affect their annual expenses. Understanding how property taxes are calculated helps homeowners plan better and potentially seek exemptions or appeals if they believe their property has been over-assessed.
Average Brethren Tax Bill
$1,262
Average Manistee County Tax Bill
$1,612
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Brethren, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49619 | $492 | $799 | $1,262 | $1,914 | $2,806 |
Source: Ownwell