Holton, Michigan Property Taxes
The median property tax rate in Holton, MI is 0.39%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Holton at $142,800, the typical annual property tax bill is $566, well below the national median of $2,690. Property taxes in Holton are calculated based on the tax assessed value, which generally falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Holton'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 Holton or another part of Muskegon County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Holton, Michigan Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$2,140
Ownwell’s Holton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holton 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 Holton, Michigan
Property taxes in Holton, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holton is 0.39%, significantly lower than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Holton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holton 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 Holton's effective property tax rate to other areas in Michigan and the national median. For comparison, the 49445 zip code has the highest median property tax rate of 1.54%, while the 49442 zip code has the lowest median tax rate of 1.36%. Understanding how these cities compare with Holton provides valuable insights into the varying tax landscape across Muskegon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Holton Tax Rate
0.39%
Average Muskegon County Tax Rate
0.47%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49425 | 0.31% | 0.35% | 0.39% | 0.47% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Holton, Michigan
In Holton, 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 Muskegon 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 Holton, 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 Holton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $566.00, found in the zip code 49425.
Average Holton Assessed Value
$142,800
Average Muskegon County Assessed Value
$163,000
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Holton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49425 | $59,000 | $95,000 | $142,800 | $210,000 | $294,100 |
Source: Ownwell
Property Tax Bills Across Holton, Michigan
In Holton, property tax bills are calculated based on the assessed value of a property, which is determined by the Muskegon County assessor. The assessed value is typically a percentage of the market value of the home. For instance, with a median home price of $142,800, the property tax rate in Holton aligns closely with the national median of 0.99%. Homeowners in the 25th percentile can expect a tax bill around $362, while those in the 75th percentile may see bills up to $865. At the higher end, the 90th percentile tax bill reaches approximately $1253. Several factors influence these tax bills, including property characteristics, local tax rates, and any applicable exemptions. These taxes fund essential public services such as schools, infrastructure, and emergency services. For homeowners, understanding how these factors interplay helps in anticipating annual tax obligations and managing long-term financial planning. The consistency of the median tax bill within the 49425 zip code at $566 highlights the stability in the region's property tax assessments.
Average Holton Tax Bill
$566
Average Muskegon County Tax Bill
$841
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Holton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49425 | $225 | $362 | $566 | $865 | $1,253 |
Source: Ownwell