Laingsburg, Michigan Property Taxes
The median property tax rate in Laingsburg, MI is 1.23%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Laingsburg at $198,800, the typical annual property tax bill reaches $2,507, which is just below the national median of $2,690. Property taxes in Laingsburg are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Laingsburg'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 Laingsburg 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
Laingsburg, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$2,445
Ownwell’s Laingsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Laingsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Laingsburg 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 Laingsburg, Michigan
Property taxes in Laingsburg, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Laingsburg is 1.23%, higher than both the Michigan state median of 1.23% and the U.S. national median of 0.99%. Local government entities within Laingsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Laingsburg 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 Laingsburg's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48848 zip code has the highest median property tax rate of 1.23%, while the 48848 zip code has the lowest median tax rate of 1.23%. Understanding how these cities compare with Laingsburg provides valuable insights into the varying tax landscape across Shiawassee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Laingsburg Tax Rate
1.23%
Average Shiawassee County Tax Rate
1.23%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Laingsburg, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48848 | 0.94% | 1.06% | 1.23% | 1.66% | 2.10% |
Source: Ownwell
Property Tax Assessment Values Across Laingsburg, Michigan
In Laingsburg, 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 Shiawassee 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 Laingsburg, 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 Laingsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 48848 has the highest and lowest median tax bill at $2,507, showcasing a consistent rate within the area.
Average Laingsburg Assessed Value
$198,800
Average Shiawassee County Assessed Value
$142,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Laingsburg, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48848 | $108,220 | $149,600 | $198,800 | $255,400 | $337,920 |
Source: Ownwell
Property Tax Bills Across Laingsburg, Michigan
In Laingsburg, located in Shiawassee 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 local tax rate is then applied to this assessed value to determine the tax bill. For example, with a median home price of $198,800, homeowners can expect to pay a tax bill ranging from $1,977 at the 25th percentile to $4,504 at the 90th percentile. Several factors influence the final tax amount, including local government budgets, school district funding needs, and public service requirements. These taxes are crucial for funding essential services such as education, infrastructure, and emergency services. Homeowners in Laingsburg may find their property tax bills higher or lower than the national median property tax rate of 0.99%, depending on these local factors. Understanding how these elements contribute to the overall tax bill helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Laingsburg Tax Bill
$2,507
Average Shiawassee County Tax Bill
$1,816
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Laingsburg, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48848 | $1,396 | $1,977 | $2,507 | $3,439 | $4,504 |
Source: Ownwell