Homer, Hillsdale County, Michigan Property Taxes
Median Homer, MI effective property tax rate: 0.51%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Homer, MI home value: $125,731
Median annual Homer, MI tax bill: $747, $1,653 lower than the national median property tax bill of $2,400.
How are property taxes in Hillsdale calculated?
Property taxes in Homer, 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 Homer’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Homer, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Homer, Hillsdale County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.51%
Estimate Property Tax Bill
$641
$595
Property Tax Rates Across Homer, Hillsdale County, Michigan
Local government entities are responsible for setting tax rates, which can vary significantly across different regions. Each year, counties estimate their required budget to maintain essential services and then divide this budget by the total assessed value of all taxable properties within their jurisdiction. This calculation determines the property tax rate. While various factors, including votes and legislation, influence the setting of tax rates and budgets, this is the core process followed annually.
Homer in Hillsdale County, Michigan, offers a unique perspective on property taxes. You can compare its effective property tax rate to other cities in Michigan and the broader median property tax rates in the state and across the United States. With a median property tax rate of 0.51%, Hillsdale County's rate is notably lower than the national median property tax rate of 1.02%. This comparison highlights the variability in property tax rates and how they can impact homeowners differently depending on their location. Understanding these differences is crucial for property owners looking to manage their financial responsibilities effectively.
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 Homer Tax Rate
0.51%
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 Hillsdale County Tax Rate
0.41%
Median Effective Michigan Tax Rate
1.07%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Homer, Hillsdale County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49245 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Homer, Hillsdale County, Michigan
When examining property taxes in Homer, 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 Hillsdale 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 Hillsdale 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 Homer. For example, the median home price in Homer is $125,731, with tax bills ranging significantly across the county.
Property Tax Assessment Values Across Homer, Hillsdale County, Michigan
Source: Ownwell
$60,908
$148,464
$236,020
Median Homer Market Value
$125,731
Median Hillsdale County Market Value
$141,139
Median Michigan Market Value
$177,800
Median United States Market Value
$235,294
Property Tax Assessment Values Across Homer, Hillsdale County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49245 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Homer, Hillsdale County, Michigan
In Homer, located within Hillsdale 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 market value of the property. Homeowners in Homer face property tax bills that vary significantly, with the 25th percentile at $439 and the 75th percentile at $796, indicating a range of tax obligations depending on the property's assessed value. These figures illustrate that, while some homeowners may pay less than the national median property tax bill of $2,400, others may face higher costs.
Factors such as local tax rates and any applicable exemptions influence the final tax bill. This variability can impact homeowners' financial planning and overall affordability of homeownership. Ownwell assists homeowners by providing expert property tax appeal and exemption services, potentially reducing their tax obligations. By leveraging local expertise and understanding specific assessment criteria, Ownwell can help homeowners in Homer save on their property tax bills, ensuring they only pay what is fair and equitable.
Median Homer Tax Bill
$747
Median Hillsdale County Tax Bill
$685
Median Michigan Tax Bill
$1,795
Median United States Tax Bill
$2,400
Property Tax Bills Across Homer, Hillsdale County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49245 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell