Osceola County Property Taxes
The median property tax rate in Osceola County is 1.27%, which is significantly higher than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value in Osceola County, the typical annual property tax bill reaches $1,382, which is below the national median of $2,690. Property taxes in Osceola County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Osceola County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Reed City or another part of Osceola County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Osceola County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$1,392
Ownwell’s Osceola County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Osceola County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Osceola County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Osceola County, Michigan
Property taxes in Osceola play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Osceola is 1.27%, which is higher than the U.S. national median of 0.99%. Local government entities within Osceola set these rates annually, and they can vary significantly between different areas within the county. Each year, Osceola estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Osceola's effective property tax rate with other areas in Michigan and the national median. For comparison, the city of Mc Bain has one of the higher property tax rates in Michigan at 1.49%, while the city of Hersey boasts one of the lowest at 1.12%. Analyzing how Osceola's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Osceola County Tax Rate
1.27%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Osceola County, Michigan
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Evart | 0.81% | 0.99% | 1.32% | 1.72% | 2.13% |
| Hersey | 0.71% | 0.86% | 1.12% | 1.45% | 1.85% |
| Lake | 0.90% | 0.99% | 1.41% | 1.69% | 1.89% |
| Leroy | 0.82% | 1.03% | 1.32% | 1.80% | 2.24% |
| Marion | 0.79% | 0.94% | 1.18% | 1.62% | 2.05% |
| Mc Bain | 1.05% | 1.28% | 1.49% | 1.60% | 1.64% |
| Paris | 0.85% | 0.93% | 1.13% | 1.38% | 1.48% |
| Reed City | 0.84% | 0.96% | 1.28% | 1.64% | 2.06% |
| Sears | 0.79% | 0.96% | 1.25% | 1.61% | 2.00% |
| Tustin | 0.82% | 0.98% | 1.26% | 1.68% | 2.16% |
Source: Ownwell
Property Tax Assessment Values Across Osceola County, Michigan
In Osceola County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Osceola Appraisal District. The assessed value, however, 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 Osceola County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For instance, the median home price in Osceola County is $109,600, with tax bills ranging widely—from $832 at the 25th percentile to $3,123 at the 90th percentile. The city of McBain has the highest median tax bill at $3,823, while Paris has the lowest at $1,094. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Osceola County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Osceola County, Michigan
Source: Ownwell
$98,800
$195,150
$291,500
Average Osceola County Assessed Value
$109,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Osceola County, Michigan
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Evart | $39,200 | $69,800 | $109,100 | $165,800 | $243,000 |
| Hersey | $48,700 | $77,600 | $119,500 | $172,750 | $240,000 |
| Lake | $37,400 | $69,200 | $99,600 | $160,600 | $234,400 |
| Leroy | $18,920 | $42,850 | $101,900 | $173,150 | $258,600 |
| Marion | $33,200 | $60,350 | $100,400 | $151,850 | $223,000 |
| Mc Bain | $247,280 | $254,300 | $291,500 | $359,300 | $421,400 |
| Paris | $57,780 | $71,100 | $98,800 | $171,450 | $261,960 |
| Reed City | $41,280 | $74,600 | $110,800 | $162,400 | $239,120 |
| Sears | $32,160 | $60,550 | $110,700 | $179,450 | $244,020 |
| Tustin | $35,480 | $73,300 | $126,300 | $208,500 | $306,200 |
Source: Ownwell
Property Tax Bills Across Osceola County, Michigan
Property tax bills in Osceola County, MI are calculated based on the assessed value of a property, which is typically 50% of its market value. For example, with a median home price of $109,600, the assessed value would be approximately $54,800. The tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as local tax rates, school district levies, and other municipal costs contribute to the final amount. Homeowners in Osceola County experience a range of tax bills. The 25th percentile tax bill is $832, while the 75th percentile reaches $2,096, and the 90th percentile can go as high as $3,123. In comparison, the national median property tax rate is 0.99%, highlighting how local rates and home values impact tax obligations. Cities within the county also show variation; for instance, MC BAIN has the highest median tax bill at $3,823, whereas PARIS has the lowest at $1,094. This variability affects homeowners differently, depending on their property's location and value.
Average Osceola County Tax Bill
$1,382
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Osceola County, Michigan
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Evart | $496 | $898 | $1,417 | $2,118 | $3,157 |
| Hersey | $528 | $863 | $1,331 | $1,939 | $2,828 |
| Lake | $479 | $840 | $1,501 | $2,106 | $3,054 |
| Leroy | $274 | $612 | $1,253 | $2,193 | $3,588 |
| Marion | $413 | $725 | $1,217 | $1,858 | $2,653 |
| Mc Bain | $3,135 | $3,448 | $3,823 | $4,846 | $6,325 |
| Paris | $741 | $836 | $1,094 | $1,695 | $2,465 |
| Reed City | $558 | $942 | $1,444 | $2,034 | $2,815 |
| Sears | $416 | $763 | $1,363 | $2,185 | $3,180 |
| Tustin | $557 | $950 | $1,571 | $2,394 | $3,742 |
Source: Ownwell