Breckenridge, Midland County, Michigan Property Taxes
Median Breckenridge, MI effective property tax rate: 0.35%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Breckenridge, MI home value: $140,000
Median annual Breckenridge, MI tax bill: $531, $1,869 lower than the national median property tax bill of $2,400.
How are property taxes in Midland County calculated?
Property taxes in Breckenridge, 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 Breckenridge’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Breckenridge, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Breckenridge, Midland County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.32%
Estimate Property Tax Bill
$520
$483
Property Tax Rates Across Breckenridge, Midland County, Michigan
Local government entities determine tax rates, which can vary significantly within a state. This variation arises because each county, including Breckenridge in Midland County, Michigan, annually calculates its required budget to deliver essential services. This budget is then divided by the total value of all taxable property within the county, resulting in the property tax rate. While the process involves votes and legislation to set tax rates and budgets, this is essentially how it works each year.
Breckenridge's effective property tax rate is notably different from other cities in Michigan and the national averages. Michigan's median property tax rate is 1.54%, which is above the national median of 1.02%. However, Breckenridge's tax rate stands at 1.72%, further exceeding both the state and national medians. This means that property owners in Breckenridge may face higher tax bills compared to other regions. Understanding these differences is crucial for property owners who wish to manage their expenses effectively and explore potential savings through tax appeals or exemptions.
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 Breckenridge Tax Rate
0.32%
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 Midland County Tax Rate
0.53%
Median Effective Michigan Tax Rate
1.05%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Breckenridge, Midland County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48615 | 0.25% | 0.28% | 0.32% | 0.40% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Breckenridge, Midland County, Michigan
When examining property taxes in Breckenridge, 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 Midland County Assessor 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 Midland County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Breckenridge. For example, the median home price in Breckenridge is $140,000, with tax bills ranging significantly across the county. Zip code 48615 has the highest median home price at $140,000.
Property Tax Assessment Values Across Breckenridge, Midland County, Michigan
Source: Ownwell
$90,500
$148,550
$206,600
Median Breckenridge Market Value
$162,600
Median Midland County Market Value
$183,600
Median Michigan Market Value
$213,740
Median United States Market Value
$235,294
Property Tax Assessment Values Across Breckenridge, Midland County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48615 | $55,680 | $99,250 | $162,600 | $247,100 | $370,940 |
Source: Ownwell
Property Tax Bills Across Breckenridge, Midland County, Michigan
Median Breckenridge Tax Bill
$571
Median Midland County Tax Bill
$1,337
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across Breckenridge, Midland County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48615 | $203 | $327 | $571 | $859 | $1,306 |
Source: Ownwell