Prescott, Ogemaw County, Michigan Property Taxes

Name: Property Tax Bills Across Prescott, Ogemaw County, Michigan
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Prescott, MI effective property tax rate: 0.89%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Prescott, MI home value: $25,000
Median annual Prescott, MI tax bill: $222, $2,178 lower than the national median property tax bill of $2,400.

How are property taxes in Ogemaw calculated?

Property taxes in Prescott, 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 Prescott’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Prescott, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Prescott, Ogemaw County, Michigan Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.89%

Estimate Property Tax Bill

$223

$206

Ownwell’s Prescott Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Prescott with just two data points. By entering your property's estimated assessed value, our calculator applies Prescott’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Ogemaw County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Prescott, Ogemaw County, Michigan

Local government entities in Michigan determine tax rates, which can significantly differ across the state. This variation occurs because each county annually calculates its necessary budget to fund services and then divides this figure by the total value of all taxable property within its area. This process establishes the property tax rate. While the setting of tax rates and budgets involves votes and legislation, this is essentially how it unfolds each year.

In Prescott, located in Ogemaw County, the effective property tax rate is 0.89%, which aligns with the highest and lowest median tax rates recorded in the state. Compared to the national median property tax rate of 1.02%, Prescott's rate is lower, offering a potentially more attractive option for property owners. Additionally, the median tax bill in Michigan is often less than the national median of $2400, making it a financially appealing location for those seeking to manage their property tax expenses efficiently. By understanding these dynamics, property owners in Prescott can better navigate their tax obligations and make informed decisions.

Property Tax Rates Across Prescott, Ogemaw County, Michigan

Source: Ownwell

0.84%

1.27%

1.70%

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 Prescott Tax Rate

0.89%

Median Effective Ogemaw County Tax Rate

0.91%

Median Effective Michigan Tax Rate

1.07%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Prescott, Ogemaw County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
48756	0.60%	0.76%	0.89%	1.00%	1.22%

Source: Ownwell

Property Tax Assessment Values Across Prescott, Ogemaw County, Michigan

When examining property taxes in Prescott, 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 Ogemaw 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. Assessment notices: In Ogemaw 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 Prescott. For example, the median home price in Prescott is $25,000, with tax bills ranging significantly across the county. 48756 has the highest median home price at $25,000.

Property Tax Assessment Values Across Prescott, Ogemaw County, Michigan

Source: Ownwell

$25,000

$44,500

$64,000

Median Prescott Market Value

$25,000

Median Ogemaw County Market Value

$47,400

Median Michigan Market Value

$177,800

Median United States Market Value

$235,294

Property Tax Assessment Values Across Prescott, Ogemaw County, Michigan

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
48756	$3,000	$10,600	$25,000	$50,400	$90,480

Source: Ownwell

Property Tax Bills Across Prescott, Ogemaw County, Michigan

In Prescott, located in Ogemaw County, Michigan, property tax bills are calculated based on the assessed value of a home. This assessed value is typically a percentage of the property's market value. Homeowners in this area face a median property tax bill of $222, which is significantly lower than the national median of $2,400. Factors influencing the tax bill include the property's location, size, and any exemptions or deductions for which the homeowner may qualify. The tax bill for Prescott homes can vary widely, with amounts ranging from $95 at the 25th percentile to $803 at the 90th percentile. Such variations can impact homeowners' budgets, particularly when taxes rise unexpectedly. This is where Ownwell can provide substantial assistance. By offering professional property tax appeal and exemption services, Ownwell helps homeowners navigate the complexities of property tax assessments, potentially lowering their tax bills and ensuring they do not overpay. This support can lead to significant savings, alleviating financial burdens for Prescott homeowners.

Property Tax Bills Across Prescott, Ogemaw County, Michigan

Source: Ownwell

$222

$558

$893

Median Prescott Tax Bill

$222

Median Ogemaw County Tax Bill

$466

Median Michigan Tax Bill

$1,795

Median United States Tax Bill

$2,400

Property Tax Bills Across Prescott, Ogemaw County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
48756	$26	$95	$222	$449	$803

Source: Ownwell