Bitely, Michigan Property Taxes
The median property tax rate in Bitely, MI is 0.38%, considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Bitely, the typical annual property tax bill reaches $290, significantly below the national median of $2,690. Property taxes in Bitely 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 Bitely'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 Bitely or another part of Newaygo County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bitely, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$316
Ownwell’s Bitely Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bitely with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bitely 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 Bitely, Michigan
Property taxes in Bitely, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bitely is 1.33%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Bitely set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bitely 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 Bitely's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in the state is 2.11%, while the lowest median tax rate is 0.88%. Understanding how these cities compare with Bitely provides valuable insights into the varying tax landscape across Newaygo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bitely Tax Rate
0.38%
Average Newaygo County Tax Rate
0.43%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bitely, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49309 | 0.23% | 0.30% | 0.38% | 0.44% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Bitely, Michigan
In Bitely, 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 Newaygo 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 Bitely, 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 Bitely helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Bitely is $83,200. The median tax bill for the 25th percentile is $147, while the 75th percentile is $538. The highest and lowest median tax bills both stand at $290 in the 49309 zip code.
Average Bitely Assessed Value
$83,200
Average Newaygo County Assessed Value
$143,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bitely, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49309 | $19,600 | $41,000 | $83,200 | $148,900 | $226,600 |
Source: Ownwell
Property Tax Bills Across Bitely, Michigan
In Bitely, Newaygo County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, with a median home price of $83,200, the property tax rate is applied to determine the tax owed. Factors such as the property's location, size, and any improvements made can influence its assessed value. Homeowners in Bitely can expect tax bills to vary significantly. For example, tax bills in the 25th percentile are around $147, while those in the 75th percentile reach up to $538. The highest tax bills, in the 90th percentile, can be as much as $862. These property taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Compared to the national median property tax rate of 0.99%, Bitely's rates reflect local economic conditions and the funding needs of Newaygo County.
Average Bitely Tax Bill
$290
Average Newaygo County Tax Bill
$667
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Bitely, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49309 | $64 | $147 | $290 | $538 | $862 |
Source: Ownwell