New Lothrop, Shiawassee County, Michigan Property Taxes
Median New Lothrop, MI effective property tax rate: 1.10%, slightly higher than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median New Lothrop, MI home value: $167,800
Median annual New Lothrop, MI tax bill: $1,883, $517 lower than the national median property tax bill of $2,400.
How are property taxes in Shiawassee County calculated?
Property taxes in New Lothrop, MI are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding New Lothrop’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in New Lothrop, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
New Lothrop, Shiawassee County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.1%
Estimate Property Tax Bill
$1,846
$1,713
Property Tax Rates Across New Lothrop, Shiawassee County, Michigan
Local government entities determine tax rates, and these can differ significantly within a state. Each year, counties estimate the budget required to provide essential services and divide this by the total assessed value of all taxable property within their jurisdiction. This calculation determines the property tax rate. While setting tax rates and budgets involves votes and laws, this is essentially the annual process.
In New Lothrop, located in Shiawassee County, Michigan, the effective property tax rate is notable. When compared to other cities in Michigan, New Lothrop's rate aligns closely with the state's median. The median property tax rate in Michigan stands at 1.10%, which is slightly above the national median of 1.02%. This comparison highlights New Lothrop's position within the broader tax landscape, offering residents a perspective on their local tax obligations relative to state and national figures. Understanding these rates can help property owners make informed decisions about appealing their property taxes or seeking exemptions, ensuring they are not overpaying compared to the assessed values in their area.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective New Lothrop Tax Rate
1.10%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Shiawassee County Tax Rate
1.23%
Median Effective Michigan Tax Rate
1.07%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across New Lothrop, Shiawassee County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48460 | 0.87% | 1.01% | 1.10% | 1.28% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across New Lothrop, Shiawassee County, Michigan
When examining property taxes in New Lothrop, MI, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Shiawassee County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Shiawassee County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in New Lothrop. For example, the median home price in New Lothrop is $167,800, with tax bills ranging significantly across the county. Zip code 48460 has the highest median home price at $167,800.
Property Tax Assessment Values Across New Lothrop, Shiawassee County, Michigan
Source: Ownwell
$120,400
$173,850
$227,300
Median New Lothrop Market Value
$167,800
Median Shiawassee County Market Value
$142,800
Median Michigan Market Value
$177,800
Median United States Market Value
$235,294
Property Tax Assessment Values Across New Lothrop, Shiawassee County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48460 | $92,400 | $123,600 | $167,800 | $230,800 | $298,000 |
Source: Ownwell
Property Tax Bills Across New Lothrop, Shiawassee County, Michigan
In New Lothrop, Michigan, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as the home's location, size, and condition can influence its assessed value. In New Lothrop, the median tax bill is $1,883, which is below the national median of $2,400, making it relatively affordable for homeowners. However, property tax bills can vary significantly, with some homeowners paying as little as $1,420 and others as much as $3,326, depending on their property's assessed value and applicable exemptions.
Ownwell offers valuable assistance to homeowners by providing property tax appeal and exemption services. By leveraging their expertise, homeowners can potentially lower their assessed values and, consequently, their tax bills. This service can be especially beneficial for those in New Lothrop who feel their property is over-assessed, ensuring they only pay their fair share of property taxes.
Median New Lothrop Tax Bill
$1,883
Median Shiawassee County Tax Bill
$1,816
Median Michigan Tax Bill
$1,795
Median United States Tax Bill
$2,400
Property Tax Bills Across New Lothrop, Shiawassee County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48460 | $1,010 | $1,420 | $1,883 | $2,611 | $3,326 |
Source: Ownwell