Fostoria, Lapeer County, Michigan Property Taxes
Median Fostoria, MI effective property tax rate: 0.30%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Fostoria, MI home value: $176,000
Median annual Fostoria, MI tax bill: $532, $1,868 lower than the national median property tax bill of $2,400.
How are property taxes in Lapeer calculated?
Property taxes in Fostoria, 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 Fostoria’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Fostoria, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Fostoria, Lapeer County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.3%
Estimate Property Tax Bill
$528
$490
Property Tax Rates Across Fostoria, Lapeer County, Michigan
Local government entities determine tax rates, which can differ significantly within a state. Each year, counties estimate the budget needed to provide services and divide this by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the annual process.
In Fostoria, located in Tuscola County, Michigan, the effective property tax rate is notably lower than the national median of 1.02%. This makes it an attractive option for property owners seeking relief from higher tax burdens.
Comparatively, the median property tax rate in Michigan is also lower than the national average, offering a favorable environment for homeowners. Understanding how Fostoria’s property tax rate stacks up against other cities in Michigan and the U.S. can provide valuable insights for prospective property buyers and current homeowners.
By examining these rates, property owners can make informed decisions about where to invest or settle, taking advantage of areas with lower tax obligations while still enjoying the benefits of local services.
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 Fostoria Tax Rate
0.30%
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 Lapeer County Tax Rate
0.37%
Median Effective Michigan Tax Rate
1.07%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Fostoria, Lapeer County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48435 | 0.25% | 0.27% | 0.30% | 0.39% | 0.45% |
Source: Ownwell
Property Tax Assessment Values Across Fostoria, Lapeer County, Michigan
When examining property taxes in Fostoria, Michigan, 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 Lapeer 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 Lapeer 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 Fostoria. For example, the median home price in Fostoria is $176,000, with tax bills ranging significantly across the county. Zip code 48435 has the highest median home price at $176,000.
Property Tax Assessment Values Across Fostoria, Lapeer County, Michigan
Source: Ownwell
$124,600
$223,600
$322,600
Median Fostoria Market Value
$176,000
Median Lapeer County Market Value
$215,800
Median Michigan Market Value
$177,800
Median United States Market Value
$235,294
Property Tax Assessment Values Across Fostoria, Lapeer County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48435 | $73,560 | $120,200 | $176,000 | $238,800 | $319,600 |
Source: Ownwell
Property Tax Bills Across Fostoria, Lapeer County, Michigan
In Fostoria, Lapeer County, MI, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The local tax rate is applied to this assessed value to calculate the tax bill. With a median home price of $176,000, homeowners in this area face tax bills that can vary significantly, from the 25th percentile at $373 to the 90th percentile at $1,063. These figures highlight the potential for substantial tax savings, as the national median property tax bill is $2,400. Factors like property improvements, neighborhood changes, and local government budgets can influence assessments, impacting the final bill.
Homeowners often find these calculations complex and challenging, but Ownwell can help. By offering expert property tax appeal services, Ownwell assists homeowners in ensuring their property assessments are fair, potentially reducing tax burdens. This service is crucial for homeowners looking to optimize their savings and manage their property expenses effectively.
Median Fostoria Tax Bill
$532
Median Lapeer County Tax Bill
$858
Median Michigan Tax Bill
$1,795
Median United States Tax Bill
$2,400
Property Tax Bills Across Fostoria, Lapeer County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48435 | $245 | $373 | $532 | $785 | $1,063 |
Source: Ownwell