Otsego, Van Buren County, Michigan Property Taxes
Median Otsego, MI effective property tax rate: 0.32%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Otsego, MI home value: $218,700
Median annual Otsego, MI tax bill: $702, $1,698 lower than the national median property tax bill of $2,400.
How are property taxes in Van Buren calculated?
Property taxes in Otsego, 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 Otsego’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Otsego, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Otsego, Van Buren County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.3%
Estimate Property Tax Bill
$727
$675
Property Tax Rates Across Otsego, Van Buren County, Michigan
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 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 Van Buren County Tax Rate
0.41%
Median Effective Michigan Tax Rate
1.05%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Otsego, Van Buren County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49078 | 0.21% | 0.25% | 0.30% | 0.32% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Otsego, Van Buren County, Michigan
When examining property taxes in Otsego, 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 Van Buren 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 Van Buren 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 Otsego. For example, the median home price in Otsego is $218,700, with tax bills ranging significantly across the county. Zip code 49078 has the highest median home price at $218,700.
Property Tax Assessment Values Across Otsego, Van Buren County, Michigan
Source: Ownwell
$79,200
$179,600
$280,000
Median Otsego Market Value
$242,400
Median Van Buren County Market Value
$204,000
Median Michigan Market Value
$213,740
Median United States Market Value
$235,294
Property Tax Assessment Values Across Otsego, Van Buren County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49078 | $129,400 | $166,800 | $242,400 | $345,900 | $408,160 |
Source: Ownwell
Property Tax Bills Across Otsego, Van Buren County, Michigan
In Otsego, property tax bills are determined by assessing the property's market value and applying the local tax rate. The median home price in the area is $218,700, and the tax rate in Van Buren County is notably lower than the national median property tax rate of 1.02%. Homeowners in Otsego can expect property tax bills to vary, with the 25th percentile at $474 and the 75th percentile at $922. The 90th percentile reaches $1,446, which is still below the national median tax bill of $2,400. These figures highlight the relatively affordable property tax environment in Otsego.
Despite the lower rates, property tax bills can still be a burden for homeowners. Ownwell offers services to help reduce these costs, specializing in property tax appeals and exemptions. By analyzing property assessments and identifying potential discrepancies, Ownwell assists homeowners in potentially lowering their tax bills. This service not only provides financial relief but also ensures that homeowners are not overpaying on their property taxes.
Median Otsego Tax Bill
$734
Median Van Buren County Tax Bill
$897
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across Otsego, Van Buren County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49078 | $297 | $463 | $734 | $955 | $1,484 |
Source: Ownwell