New Lothrop, Saginaw County, Michigan Property Taxes
Median New Lothrop, MI effective property tax rate: 0.38%, significantly lower than the national median of 1.02%, and also lower than the Michigan state median of 1.07%.
Median New Lothrop, MI home value: $215,900
Median annual New Lothrop, MI tax bill: $767, $1,633 lower than the national median property tax bill of $2,400.
How are property taxes in Saginaw calculated?
Property taxes in New Lothrop, 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 New Lothrop’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in New Lothrop, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
New Lothrop, Saginaw County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.38%
Estimate Property Tax Bill
$797
$740
Property Tax Rates Across New Lothrop, Saginaw County, Michigan
Local government entities are responsible for setting tax rates, which can significantly differ within a state. This variation occurs because each county annually determines its needed budget to fund local services and divides this by the total assessed value of all taxable properties in its jurisdiction, resulting in the property tax rate. While the process involves votes and legislation to establish tax rates and budgets, this is essentially how it works each year.
In New Lothrop, located in Saginaw County, Michigan, the effective property tax rate is notably lower than the national median. With Michigan's median property tax rate being 1.54%, New Lothrop offers a more favorable rate compared to the state's average. This can be particularly appealing for homeowners seeking lower property tax obligations.
When compared to the national median property tax rate of 1.02%, New Lothrop's rate stands out as a more economical option. This lower rate can contribute to significant savings for property owners, making New Lothrop an attractive place for those looking to reduce their property tax burden 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 New Lothrop Tax Rate
0.38%
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 Saginaw County Tax Rate
0.75%
Median Effective Michigan Tax Rate
1.05%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across New Lothrop, Saginaw County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48460 | 0.31% | 0.35% | 0.38% | 0.41% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across New Lothrop, Saginaw County, Michigan
When examining property taxes in New Lothrop, 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 Saginaw 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 Saginaw 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 New Lothrop. For example, the median home price in New Lothrop is $215,900, with tax bills ranging significantly across the county. Zip code 48460 has the highest median home price at $215,900.
Property Tax Assessment Values Across New Lothrop, Saginaw County, Michigan
Source: Ownwell
$28,400
$152,200
$276,000
Median New Lothrop Market Value
$209,800
Median Saginaw County Market Value
$133,200
Median Michigan Market Value
$213,740
Median United States Market Value
$235,294
Property Tax Assessment Values Across New Lothrop, Saginaw County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48460 | $132,620 | $171,200 | $209,800 | $268,500 | $328,740 |
Source: Ownwell
Property Tax Bills Across New Lothrop, Saginaw County, Michigan
In New Lothrop, Michigan, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. The tax rate is influenced by various factors, including local government budgets and public service funding needs. For homeowners in New Lothrop, the median property tax bill is $767, significantly lower than the national median of $2,400. Despite this, property taxes can still be a financial burden for many.
Ownwell offers property tax appeal and exemption services that can help homeowners potentially reduce their tax bills. By analyzing the assessed value of a property and comparing it to market data, Ownwell identifies opportunities for appealing over-assessments. This service can lead to significant savings, ensuring homeowners are not overpaying on their property taxes. With expert guidance from Ownwell, homeowners in New Lothrop can navigate the complexities of property tax assessments and potentially lower their annual expenses.
Median New Lothrop Tax Bill
$826
Median Saginaw County Tax Bill
$971
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across New Lothrop, Saginaw County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48460 | $491 | $631 | $826 | $1,012 | $1,300 |
Source: Ownwell