Manton, Michigan Property Taxes
The median property tax rate in Manton, MI is 1.53%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Manton at $97,100, the typical annual property tax bill reaches $1,792, exceeding the national median of $2,690. Property taxes in Manton 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 Manton'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 Manton 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
Manton, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.53%
Estimate Property Tax Bill
$1,486
$1,379
Ownwell’s Manton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Manton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Manton 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 Manton, Michigan
Property taxes in Manton, Michigan, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Manton is 1.53%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Manton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Manton 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 Manton's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49663 zip code has both the highest and lowest median property tax rate of 1.53%. Understanding how these cities compare with Manton provides valuable insights into the varying tax landscape across Wexford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Manton Tax Rate
1.53%
Average Wexford County Tax Rate
1.72%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Manton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49663 | 0.78% | 0.93% | 1.53% | 1.88% | 2.56% |
Source: Ownwell
Property Tax Assessment Values Across Manton, Michigan
In Manton, 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 Wexford 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 Manton, 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. For example, the median home price in Manton is $97,100. The 25th percentile tax bill is $1,022, while the 75th percentile tax bill is $2,697, and the 90th percentile tax bill is $3,450. The highest and lowest median tax bills are both $1,792 in zip code 49663. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Manton Assessed Value
$97,100
Average Wexford County Assessed Value
$108,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Manton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49663 | $27,600 | $62,600 | $97,100 | $231,550 | $315,500 |
Source: Ownwell
Property Tax Bills Across Manton, Michigan
In Manton, property tax bills are calculated based on the assessed value of a home, which is typically determined by the local assessor's office. The assessed value is a percentage of the market value of the property. For instance, with a median home price of $97,100 in Manton, the assessed value forms the basis for calculating the tax bill. Homeowners in Manton can expect their tax bills to vary significantly, ranging from the 25th percentile at $1,022 to the 75th percentile at $2,697, and reaching up to $3,450 at the 90th percentile. These variations depend on several factors, including property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Manton's property tax rates reflect the specific needs and budgetary requirements of the local government. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly, ensuring they are well-prepared for their property tax responsibilities.
Average Manton Tax Bill
$1,792
Average Wexford County Tax Bill
$1,919
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Manton, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49663 | $694 | $1,022 | $1,792 | $2,697 | $3,450 |
Source: Ownwell