Rothbury, Michigan Property Taxes
The median property tax rate in Rothbury, MI is 1.09%, slightly higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Rothbury at $120,400, the typical annual property tax bill reaches $1,239, which is below the national median of $2,690. Property taxes in Rothbury 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 Rothbury'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 Rothbury 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
Rothbury, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$1,312
Ownwell’s Rothbury Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Rothbury with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Rothbury to estimate your property tax bill. This valuable tool provides a clear understanding of potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by Oceana County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Rothbury, Michigan
Property taxes in Rothbury, Michigan, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Rothbury is 1.09%, which is higher than the U.S. national median of 0.99%. Local government entities within Rothbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rothbury 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. For comparison, the 49452 zip code has the highest median property tax rate of 1.09%, while it also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Rothbury provides valuable insights into the varying tax landscape across Oceana County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rothbury Tax Rate
1.09%
Average Oceana County Tax Rate
1.08%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rothbury, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49452 | 0.74% | 0.89% | 1.09% | 1.34% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across Rothbury, Michigan
In Rothbury, 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 Oceana 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 Rothbury, 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 Rothbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Rothbury are both $1,239 in the zip code 49452, reflecting a significant aspect of the local property tax landscape.
Average Rothbury Assessed Value
$120,400
Average Oceana County Assessed Value
$154,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rothbury, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49452 | $37,000 | $68,750 | $120,400 | $180,450 | $262,000 |
Source: Ownwell
Property Tax Bills Across Rothbury, Michigan
In Rothbury, Oceana County, MI, property tax bills are calculated based on the assessed value of the home, which is determined by local assessors. The assessed value is a percentage of the market value, reflecting the property's worth in the current real estate market. Factors such as property size, location, and improvements contribute to this valuation. Homeowners in Rothbury face varying tax bills, with the 25th percentile at $785 and the 75th percentile at $1900. The 90th percentile tax bill climbs to $2746, indicating a significant range in what homeowners might owe. Comparatively, the median property tax rate in Rothbury aligns with the national median rate of 0.99%, ensuring that local tax obligations are competitive with national standards. For homeowners, understanding these factors is crucial, as higher assessed values lead to increased tax bills. Consequently, staying informed about property assessments and potential exemptions can help manage and potentially lower annual tax liabilities.
Average Rothbury Tax Bill
$1,239
Average Oceana County Tax Bill
$1,632
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Rothbury, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49452 | $498 | $785 | $1,239 | $1,900 | $2,746 |
Source: Ownwell