Lewiston, Otsego County, Michigan Property Taxes
The median property tax rate in Lewiston, MI is 1.09%, slightly higher than both the national median of 0.99% and Michigan's state median of 1.07%. With the median home value in Lewiston at $198,200, the typical annual property tax bill reaches $2,203, which is below the national median of $2,690. Property taxes in Lewiston are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Lewiston'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 Lewiston 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
Lewiston, Otsego County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$2,160
$2,005
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, Otsego County, 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 1.09%, higher than both the Michigan state median and 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 counties in Michigan and the national median. For comparison, the 49756 zip code has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Lewiston provides valuable insights into the varying tax landscape across Otsego County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lewiston Tax Rate
1.09%
Average Otsego County Tax Rate
0.90%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lewiston, Otsego County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49756 | 0.68% | 0.83% | 1.09% | 1.45% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Lewiston, Otsego County, 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 local assessment authority 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. In Lewiston, the median home price is $198,200, with the 25th percentile tax bill at $1,264 and the 75th percentile tax bill at $3,505. The zip code with the highest and lowest median tax bill is 49756, both at $2,203.
Property Tax Assessment Values Across Lewiston, Otsego County, Michigan
Source: Ownwell
$76,200
$137,200
$198,200
Average Lewiston Assessed Value
$198,200
Average Otsego County Assessed Value
$166,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lewiston, Otsego County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49756 | $80,880 | $126,400 | $198,200 | $316,800 | $425,280 |
Source: Ownwell
Property Tax Bills Across Lewiston, Otsego County, Michigan
In Lewiston, Otsego 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 $198,200. Homeowners can expect their property tax bill to vary, with the 25th percentile at $1,264 and the 75th percentile reaching $3,505. The tax bill for the 90th percentile climbs to $4,544, reflecting higher-valued properties. Several factors influence the final tax bill, including property location, local tax rates, and any applicable exemptions or deductions. For instance, the highest and lowest median tax bills in Lewiston both stand at $2,203, indicating a relatively uniform tax structure within the area. Compared to the national median property tax rate of 0.99%, Lewiston's tax bills are competitively aligned, offering a balanced impact on homeowners. Understanding these elements helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Lewiston Tax Bill
$2,203
Average Otsego County Tax Bill
$1,490
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Lewiston, Otsego County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49756 | $893 | $1,264 | $2,203 | $3,505 | $4,544 |
Source: Ownwell