Ortonville, Michigan Property Taxes
The median property tax rate in Ortonville, MI is 0.62%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Ortonville, the typical annual property tax bill is $97, well below the national median of $2,690. Property taxes in Ortonville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ortonville'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 Ortonville 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
Ortonville, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$98
Ownwell’s Ortonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ortonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ortonville 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 Ortonville, Michigan
Property taxes in Ortonville, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ortonville is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Ortonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ortonville 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 Ortonville's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 48462 has the highest median property tax rate of 0.62%, while the same zip code also has the lowest median tax rate of 0.62%. Understanding how these cities compare with Ortonville 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 Ortonville Tax Rate
0.62%
Average Roscommon County Tax Rate
0.50%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ortonville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48462 | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Ortonville, Michigan
In Ortonville, 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 Ortonville, 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 Ortonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest tax bill in Ortonville is 48462, while the lowest is also in 48462, with both bills at $97.
Average Ortonville Assessed Value
$15,800
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 Ortonville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48462 | $15,800 | $15,800 | $15,800 | $15,800 | $15,800 |
Source: Ownwell
Property Tax Bills Across Ortonville, Michigan
In Ortonville, located in Roscommon County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is typically a percentage of the home's market value. For example, if the median home price is $15,800, the assessed value would be a fraction of this figure, depending on local assessment practices. Once the assessed value is established, the property tax rate is applied to calculate the tax bill. In Ortonville, the property tax bills show minimal variation, with the 25th, 75th, and 90th percentiles all at $97. This suggests a standardized approach to taxation in the area, potentially offering predictability for homeowners. The property tax rate in Ortonville is relatively low compared to the national median property tax rate of 0.99%, which can be a significant advantage for homeowners. Lower property taxes can make homeownership more affordable, reducing the overall cost of living and potentially increasing the marketability of homes in the area.
Average Ortonville Tax Bill
$97
Average Roscommon County Tax Bill
$649
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Ortonville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48462 | $97 | $97 | $97 | $97 | $97 |
Source: Ownwell