Houghton Lake Heights, Michigan Property Taxes
The median property tax rate in Houghton Lake Heights, MI is 0.91%, which is lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $90,000 in Houghton Lake Heights, the typical annual property tax bill amounts to $695, significantly below the national median of $2,690. Property taxes in Houghton Lake Heights are determined based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. By gaining a thorough understanding of Houghton Lake Heights' property tax system, exploring available exemptions, and identifying reduction opportunities, homeowners and real estate investors can achieve substantial annual savings. Whether you're residing in Houghton Lake Heights or another part of Roscommon County, mastering the local property tax system is essential for financial optimization.
Last Updated June 14, 2024
Houghton Lake Heights, Michigan Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$2,140
Ownwell’s Houghton Lake Heights Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Houghton Lake Heights with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Houghton Lake Heights 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 Heights, Michigan
Property taxes in Houghton Lake Heights, Michigan, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Houghton Lake Heights is 0.91%, which is slightly below the U.S. national median of 0.99%. Local government entities within Houghton Lake Heights set these rates annually, and they can vary significantly across different neighborhoods. Each year, Houghton Lake Heights 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 Heights' effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 48630 has both the highest and lowest median property tax rate of 0.91%. Understanding how these areas compare with Houghton Lake Heights 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 Heights Tax Rate
0.91%
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 Heights, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48630 | 0.31% | 0.41% | 0.91% | 1.16% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Houghton Lake Heights, Michigan
In Houghton Lake Heights, 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 Heights, 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 Heights helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 48630 has both the highest and lowest median tax bill at $695.00.
Property Tax Assessment Values Across Houghton Lake Heights, Michigan
Source: Ownwell
$15,800
$177,250
$338,700
Average Houghton Lake Heights Assessed Value
$90,000
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 Heights, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48630 | $37,280 | $55,200 | $90,000 | $198,800 | $394,800 |
Source: Ownwell
Property Tax Bills Across Houghton Lake Heights, Michigan
In Houghton Lake Heights, located in Roscommon County, Michigan, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, with a median home price of $90,000, the tax bill can vary significantly. Homeowners in the 25th percentile might see a tax bill of around $424, while those in the 75th percentile could pay approximately $1,190. At the higher end, the 90th percentile tax bill reaches up to $1,973. These tax bills are influenced by various factors, including the home's assessed value, local tax rates, and applicable exemptions. Comparing this to the national median property tax rate of 0.99%, Houghton Lake Heights offers a relatively favorable tax environment. The highest and lowest median tax bills in the area, both recorded at $695, indicate a degree of consistency within certain neighborhoods. For homeowners, understanding these variables is crucial, as they directly impact annual financial planning and the overall cost of homeownership.
Average Houghton Lake Heights Tax Bill
$695
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 Heights, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48630 | $326 | $424 | $695 | $1,190 | $1,973 |
Source: Ownwell