Example of Newaygo County Property Tax Calculation
Newaygo County calculates property taxes based on the assessed value of the property. The assessed value is determined by the county assessor's office, and it is set at 50% of the property's market value.
To calculate the property tax, the assessed value is multiplied by the millage rate, which is the amount of tax per $1,000 of the property's taxable value. For example, if the assessed value of a property is $100,000 and the millage rate is 20 mills, the property tax would be calculated as follows:
$100,000 assessed value x 20 mills = $2,000 property tax
It is important to note that not all properties in Newaygo County have the same millage rate. The millage rate can vary depending on the location and the type of property (residential, commercial, agricultural, etc.). Property owners can find the millage rate for their specific property by contacting the Newaygo County Treasurer's office.
If you want appeal your property tax assessment - contact your local tax assessor.
Newaygo County Property Tax Rates
The table below lists the Newaygo County Property Tax rates per 100$ of assessed value for the current year.
| Tax | Rate per 100$ of Assessed Value |
|---|---|
| County Operating | $1.3699 |
| County Debt | $0.1865 |
| State Education | $2.2595 |
| Intermediate School | $0.4595 |
| Local School Operating | $7.0000 |
| Total | $11.2754 |
It is important to note that property tax rates can vary from year to year and can be impacted by changes in local, state, and federal laws and regulations. Taxpayers who have questions or concerns about their property taxes should consult with a qualified tax advisor or local tax authority for more information.
Who sets property tax rates in Newaygo County ?
Newaygo County Property Tax Rates:
- Authority: The Newaygo County Board of Commissioners sets property tax rates.
- Frequency: Property tax rates are set annually.
- Process: The Board of Commissioners conducts a public hearing to discuss and determine property tax rates for the following year. The rates are then included in the annual budget and adopted by the Board.
- Factors Considered: The Board considers various factors, such as property values, county expenses, and state laws, when setting property tax rates.
- Payment Deadline: Property taxes are due on February 14th of each year.
Overall, property tax rates in Newaygo County are determined by the Board of Commissioners on an annual basis and take into account various factors affecting the county's finances.
Homestead exemptions in Newaygo County ?
Creating a table for county-specific Homestead exemptions and deductions in Newaygo County, Michigan is crucial for property owners. The table will include four columns - exemption, eligibility, amount, and notes, and provide a comprehensive guide to what is available to homeowners in the county. Here's a breakdown of what you can expect to find in each column:
Exemption
An exemption is a portion of your property's value that is excluded from being taxed. Here are the different Homestead exemptions available in Newaygo County:
- Homestead Exemption: Available to property owners who use their property as their primary residence. This exemption allows up to 100% of the property's taxable value to be exempted from taxes.
- Personal Property Exemption: Available to property owners who have personal property such as boats or RVs, which are subject to personal property tax. This exemption allows up to $80,000 of the property's taxable value to be exempted from taxes.
- Poverty Exemption: Available to property owners who demonstrate that they are unable to pay their property taxes due to poverty. This exemption allows up to 100% of the property's taxable value to be exempted from taxes.
Eligibility
To be eligible for any of the Homestead exemptions in Newaygo County, property owners must meet specific criteria. Here's what you need to know:
- Homestead Exemption: Must be the primary residence of the owner and must file an Affidavit of Owner Occupancy with the local assessor's office.
- Personal Property Exemption: Must own personal property subject to personal property tax in the county.
- Poverty Exemption: Must demonstrate financial hardship and fall below the federal poverty guidelines.
Amount
The amount of exemption varies depending on the type of Homestead exemption. Here's what you can expect:
- Homestead Exemption: Up to 100% of the property's taxable value.
- Personal Property Exemption: Up to $80,000 of the property's taxable value.
- Poverty Exemption: Up to 100% of the property's taxable value.
Notes
Some additional notes to consider when it comes to Homestead exemptions in Newaygo County:
- Applications for the Homestead and Personal Property exemptions must be filed by May 1st of each year.
- Applications for the Poverty exemption must be filed by the first Monday in March of each year.
- The Poverty exemption is only available for a maximum of three years, after which the property owner must reapply.
- Additional exemptions may be available for veterans or individuals with disabilities.
By following this guide, property owners in Newaygo County can ensure they are taking advantage of all the available Homestead exemptions and deductions.
When is Newaygo County Property Tax due ?
Newaygo County Property Tax is typically due on February 14th each year. There are several payment methods available for taxpayers to make their payments, including:
| Payment Method | Details |
|---|---|
| Online | Payments can be made online by visiting the Newaygo County Treasurer's website and following the instructions. Payment can be made using a credit card or e-check. |
| Payments can be mailed to the Newaygo County Treasurer's Office at the address listed on the tax bill. Checks should be made payable to "Newaygo County Treasurer". | |
| In-Person | Payments can be made in-person at the Newaygo County Treasurer's Office during normal business hours. Cash, check, or money order are accepted. |
It is important to note that failure to pay property taxes on time can result in additional fees and interest charges. Taxpayers should be sure to make their payments on or before the due date to avoid any penalties.
If you have more questions - contact your local tax collector.
How is Newaygo County Property Tax penalty calculated ?
Newaygo County calculates property tax penalties based on the amount of unpaid taxes and the length of time they have been outstanding. The penalty is charged on the delinquent tax bill at a rate of 1% per month, up to a maximum of 12%.
For example, if a property owner has an unpaid tax bill of $2,000 that is 3 months past due, the penalty would be calculated as follows:
| Calculation | Amount |
|---|---|
| 1% per month penalty | $60 |
| Total Penalty | $180 |
Therefore, the property owner would owe a total of $2,180 ($2,000 in unpaid taxes plus $180 in penalties) for the delinquent tax bill.
It is important for property owners to pay their taxes on time to avoid incurring penalties and additional fees. Newaygo County offers multiple payment options, including online, by mail, or in-person at the Treasurer's office. Property owners can also contact the Treasurer's office with any questions or concerns about property tax payments and penalties.
We recommend contacting the Newaygo County Tax Office or a local tax professional for the most up-to-date and accurate information.