Lewiston, Michigan Property Taxes
The median property tax rate in Lewiston, MI is 0.95%, slightly lower than the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Lewiston at $29,890, the typical annual property tax bill amounts to $255, which is significantly below the national median of $2,690. Property taxes in Lewiston are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Lewiston's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lewiston or another part of Oscoda County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lewiston, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$284
Ownwell’s Lewiston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lewiston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lewiston 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 Lewiston, Michigan
Property taxes in Lewiston, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lewiston is 0.95%, slightly lower than the U.S. national median of 0.99%. Local government entities within Lewiston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lewiston 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 Lewiston's effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 49756 has both the highest and lowest median property tax rate of 0.95%. Understanding how these rates compare with Lewiston provides valuable insights into the varying tax landscape across Oscoda County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lewiston Tax Rate
0.95%
Average Oscoda County Tax Rate
0.74%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lewiston, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49756 | 0.45% | 0.60% | 0.95% | 1.41% | 1.64% |
Source: Ownwell
Property Tax Assessment Values Across Lewiston, Michigan
In Lewiston, 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 Oscoda 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 Lewiston, 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 Lewiston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Lewiston is $255 in the 49756 zip code, while the lowest median tax bill is also $255 in the same zip code.
Average Lewiston Assessed Value
$29,890
Average Oscoda County Assessed Value
$55,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lewiston, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49756 | $4,584 | $5,978 | $29,890 | $105,216 | $191,420 |
Source: Ownwell
Property Tax Bills Across Lewiston, Michigan
In Lewiston, located in Oscoda County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Lewiston is $29,890. The property tax rate in the area is applied to this assessed value to determine the annual tax bill. Homeowners in Lewiston can expect their tax bills to vary significantly, with the 25th percentile at $69 and the 75th percentile at $829. At the 90th percentile, tax bills can reach up to $1,761. Local property tax rates and the assessed value of properties play a critical role in determining the final tax bill. For homeowners, understanding these factors is essential, as property taxes can significantly impact annual expenses. Compared to the national median property tax rate of 0.99%, Lewiston’s property taxes can be relatively low, offering some financial relief to residents. However, the variability in tax bills highlights the importance of staying informed about property assessments and potential appeals.
Average Lewiston Tax Bill
$255
Average Oscoda County Tax Bill
$412
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Lewiston, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49756 | $36 | $69 | $255 | $829 | $1,761 |
Source: Ownwell