Holly, Genesee County, Michigan Property Taxes

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Holly’s effective property tax rate to other cities in Michigan and the median property tax rates in Michigan and the U.S.

Holly, located in Genesee County, has a property tax rate that aligns with the state median of 1.06%. This is slightly above the national median property tax rate of 1.02%. Homeowners in Holly may find themselves paying slightly more than the national median property tax bill of $2,400, reflecting the local government’s budget needs and property values. While the highest and lowest median tax rates in Michigan are the same at 1.06%, it's essential for homeowners to consider these rates when evaluating their property tax obligations. Understanding these dynamics can provide valuable insights into the financial responsibilities associated with homeownership in Holly.

In Holly, located in Genesee County, MI, property tax bills are calculated based on the assessed value of a home, which is determined as a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Factors such as local government budgets, school district funding, and public service needs influence the tax rate. Homeowners in Holly experience tax bills that range from $1,657 at the 25th percentile to $3,024 at the 90th percentile. The median tax bill in Holly stands at $2,196, which is slightly below the national median of $2,400, reflecting a relatively moderate property tax burden for the area.

Ownwell assists homeowners by offering property tax appeal services, potentially reducing their tax bills. By analyzing assessed values and comparing them with market trends, Ownwell identifies opportunities for appeals. This service can lead to significant savings, ensuring homeowners are not overpaying on their property taxes, thereby easing the financial burden and allowing for better allocation of resources.