Farwell, Isabella County, Michigan Property Taxes
Median Farwell, MI effective property tax rate: 1.00%, slightly lower than the national median of 1.02%, but also lower than the Michigan state median of 1.07%.
Median Farwell, MI home value: $120,600
Median annual Farwell, MI tax bill: $1,192, $1,208 lower than the national median property tax bill of $2,400.
How are property taxes in Isabella calculated?
Property taxes in Farwell, 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 Farwell’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Farwell, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Farwell, Isabella County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.84%
Estimate Property Tax Bill
$1,179
$1,094
Property Tax Rates Across Farwell, Isabella County, Michigan
Local government entities set tax rates, which can vary widely within a state. 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 Farwell’s effective property tax rate to other cities in Michigan and the median property tax rates in Michigan and the U.S. Farwell, located in Isabella County, offers residents a property tax rate that aligns closely with the state's median. With Michigan's median property tax rate at 1.00%, Farwell's rate is comparable, providing a balanced tax environment. This is particularly favorable when compared to the national median property tax rate of 1.02%. For homeowners, understanding these rates is crucial for financial planning and property investment decisions. By being informed, property owners in Farwell can make savvy choices that align with their financial goals while contributing to the community's growth and sustainability.
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 Farwell Tax Rate
0.84%
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 Isabella County Tax Rate
1.16%
Median Effective Michigan Tax Rate
1.05%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Farwell, Isabella County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48622 | 0.57% | 0.71% | 0.84% | 1.10% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Farwell, Isabella County, Michigan
When examining property taxes in Farwell, 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 Isabella 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 Isabella 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 Farwell.
For example, the median home price in Farwell is $120,600, with tax bills ranging significantly across the county. Zip code 48622 has the highest median home price at $120,600.
Property Tax Assessment Values Across Farwell, Isabella County, Michigan
Source: Ownwell
$74,400
$122,200
$170,000
Median Farwell Market Value
$140,400
Median Isabella County Market Value
$159,600
Median Michigan Market Value
$213,740
Median United States Market Value
$235,294
Property Tax Assessment Values Across Farwell, Isabella County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48622 | $51,840 | $89,900 | $140,400 | $202,500 | $279,180 |
Source: Ownwell
Property Tax Bills Across Farwell, Isabella County, Michigan
Median Farwell Tax Bill
$1,189
Median Isabella County Tax Bill
$1,856
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across Farwell, Isabella County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48622 | $474 | $820 | $1,189 | $1,594 | $2,259 |
Source: Ownwell