Vanderbilt, Otsego County, Michigan Property Taxes
Median Vanderbilt, MI effective property tax rate: 0.88%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Vanderbilt, MI home value: $125,000
Median annual Vanderbilt, MI tax bill: $1,033, $1,367 lower than the national median property tax bill of $2,400.
How are property taxes in Otsego calculated?
Property taxes in Vanderbilt, 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 Vanderbilt’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Vanderbilt, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Vanderbilt, Otsego County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.65%
Estimate Property Tax Bill
$935
$867
Property Tax Rates Across Vanderbilt, Otsego County, Michigan
Local government entities determine tax rates, which can differ significantly within a state. This variation arises because each county annually estimates its necessary budget to provide essential services and then divides that amount by the total assessed value of all taxable properties within its jurisdiction. This calculation determines the property tax rate. Although votes and regulations play a role in setting tax rates and budgets, this is essentially the yearly process.
In Vanderbilt, located in Otsego County, Michigan, the effective property tax rate stands at 0.88%. This rate is notably lower than the national median property tax rate of 1.02%. When compared to other cities in Michigan, Vanderbilt's tax rate is relatively moderate. The median property tax bill in Vanderbilt is also below the national median of $2,400, making it an attractive location for property owners seeking lower tax obligations. This favorable tax environment can be a significant factor for homeowners and potential buyers considering real estate investments in the area.
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 Vanderbilt Tax Rate
0.65%
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 Otsego County Tax Rate
0.53%
Median Effective Michigan Tax Rate
1.05%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Vanderbilt, Otsego County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49795 | 0.42% | 0.52% | 0.65% | 0.96% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Vanderbilt, Otsego County, Michigan
When examining property taxes in Vanderbilt, 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 Otsego 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 Otsego County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Vanderbilt.
For example, the median home price in Vanderbilt is $125,000, with tax bills ranging significantly across the county. Zip code 49795 has the highest median home price at $125,000.
Property Tax Assessment Values Across Vanderbilt, Otsego County, Michigan
Source: Ownwell
$100,800
$179,300
$257,800
Median Vanderbilt Market Value
$143,800
Median Otsego County Market Value
$184,900
Median Michigan Market Value
$213,740
Median United States Market Value
$235,294
Property Tax Assessment Values Across Vanderbilt, Otsego County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49795 | $36,600 | $77,600 | $143,800 | $229,800 | $342,720 |
Source: Ownwell
Property Tax Bills Across Vanderbilt, Otsego County, Michigan
In Vanderbilt, located in Otsego County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The assessed value is typically a percentage of the market value. Homeowners in Vanderbilt face a median property tax bill of $1,033, which is significantly lower than the national median of $2,400. Factors such as the location, size, and condition of the property can influence the assessed value and, consequently, the tax bill. For homeowners, this means that changes in property assessments can lead to fluctuations in their annual tax obligations.
Ownwell offers valuable assistance to homeowners by providing expert property tax appeal services. By analyzing property assessments and identifying discrepancies or overvaluations, Ownwell helps homeowners potentially reduce their tax bills. This service can lead to significant savings, ensuring that homeowners only pay their fair share. With Ownwell's expertise, Vanderbilt residents can navigate the complexities of property tax assessments with confidence and ease.
Median Vanderbilt Tax Bill
$894
Median Otsego County Tax Bill
$967
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across Vanderbilt, Otsego County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49795 | $278 | $524 | $894 | $1,559 | $2,535 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates |
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Links | |
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| Otsego Tax Assessor | |
| Website | app.fetchgis.com |