New Hudson, Michigan Property Taxes
The median property tax rate in New Hudson, MI is 1.20%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in New Hudson at $357,890, the typical annual property tax bill reaches $4,091, exceeding the national median of $2,690. Property taxes in New Hudson 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 New Hudson'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 New Hudson 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
New Hudson, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$4,295
$3,985
Ownwell’s New Hudson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Hudson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Hudson 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 New Hudson, Michigan
Property taxes in New Hudson, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Hudson is 1.20%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within New Hudson set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Hudson 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 New Hudson's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48165 zip code has both the highest and lowest median property tax rate of 1.20%. Understanding how these cities compare with New Hudson provides valuable insights into the varying tax landscape across Oakland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Hudson Tax Rate
1.20%
Average Oakland County Tax Rate
1.37%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Hudson, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48165 | 0.88% | 0.96% | 1.20% | 1.39% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across New Hudson, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in New Hudson, Michigan. The market value represents 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 Oakland 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. Assessment notices in New Hudson 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 New Hudson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 48165 has the highest median tax bill of $4,091.
Average New Hudson Assessed Value
$357,890
Average Oakland County Assessed Value
$273,320
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Hudson, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48165 | $228,174 | $287,345 | $357,890 | $428,735 | $472,968 |
Source: Ownwell
Property Tax Bills Across New Hudson, Michigan
In New Hudson, located in Oakland County, MI, property tax bills are calculated based on the assessed value of a home, which is typically half of the market value. For instance, with a median home price of $357,890, the assessed value would be approximately $178,945. Tax rates are applied to this assessed value to determine the tax bill. Various factors, such as local government budgets and school district funding needs, influence these rates. Homeowners in New Hudson experience a range of property tax bills. At the 25th percentile, tax bills are around $2,919, while at the 75th percentile, they reach $5,504. The 90th percentile sees tax bills as high as $6,349. Comparatively, the national median property tax rate is 0.99%, indicating that New Hudson's rates can be significantly higher, impacting homeowners' financial planning and overall cost of living. The highest and lowest median tax bills in the area both stand at $4,091, highlighting a relatively uniform tax landscape within the city.
Average New Hudson Tax Bill
$4,091
Average Oakland County Tax Bill
$3,833
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across New Hudson, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48165 | $2,434 | $2,919 | $4,091 | $5,504 | $6,349 |
Source: Ownwell