Houghton Lake, Roscommon County, Michigan Property Taxes
The median property tax rate in Houghton Lake, MI is 0.75%, which is below both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $129,000 in Houghton Lake, the typical annual property tax bill amounts to $725, significantly lower than the national median of $2,690. Property taxes in Houghton Lake are calculated based on the tax assessed value, often reduced by various exemptions such as the primary residence and agricultural exemptions. Understanding Houghton Lake'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 Houghton Lake 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
Houghton Lake, Roscommon County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$968
$898
Ownwell’s Houghton Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Houghton Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Houghton Lake 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 Houghton Lake, Roscommon County, Michigan
Property taxes in Houghton Lake, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Houghton Lake is 0.75%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Houghton Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Houghton Lake 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 Houghton Lake's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 48629 has both the highest and lowest median property tax rate of 0.75%. Understanding how these cities compare with Houghton Lake provides valuable insights into the varying tax landscape across Roscommon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Houghton Lake Tax Rate
0.75%
Average Roscommon County Tax Rate
0.50%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Houghton Lake, Roscommon County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48629 | 0.30% | 0.35% | 0.75% | 1.00% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Houghton Lake, Roscommon County, Michigan
In Houghton Lake, 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 Roscommon 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 Houghton Lake, 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 Houghton Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $725.00 in the 48629 zip code, which also has the lowest median tax bill at $725.00.
Property Tax Assessment Values Across Houghton Lake, Roscommon County, Michigan
Source: Ownwell
$75,600
$117,750
$159,900
Average Houghton Lake Assessed Value
$129,000
Average Roscommon County Assessed Value
$114,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Houghton Lake, Roscommon County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48629 | $34,000 | $70,300 | $129,000 | $234,000 | $369,200 |
Source: Ownwell
Property Tax Bills Across Houghton Lake, Roscommon County, Michigan
In Houghton Lake, property tax bills are calculated based on the assessed value of a property, which is typically determined as a percentage of its market value. Local tax authorities in Roscommon County then apply the relevant tax rate to this assessed value. The median home price in Houghton Lake is $129,000, and the tax bills vary significantly across different percentiles. For instance, the 25th percentile tax bill is $406, while the 75th percentile tax bill is $1,440. At the 90th percentile, homeowners might see tax bills as high as $2,842. These variations illustrate how different factors, such as property location and specific assessments, influence the final tax bill. Homeowners in Houghton Lake can expect their tax bills to be influenced by both the assessed property value and the local tax rate, which may be higher or lower than the national median property tax rate of 0.99%. This can significantly impact their financial planning and overall cost of homeownership.
Average Houghton Lake Tax Bill
$725
Average Roscommon County Tax Bill
$649
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Houghton Lake, Roscommon County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48629 | $230 | $406 | $725 | $1,440 | $2,842 |
Source: Ownwell