Example of Shiawassee County Property Tax Calculation
Shiawassee County calculates property tax based on the assessed value of the property. For example, if a property is assessed at $100,000, the tax rate of 2.5% would result in a property tax of $2,500.
To determine the assessed value, the county considers various factors such as the size of the property, location, and condition. The assessed value is typically lower than the market value of the property.
The county also offers various exemptions and credits that can lower the property tax amount. Homeowners may qualify for a homestead exemption, while veterans and senior citizens may be eligible for additional credits.
Once the property tax is calculated, the homeowner will receive a bill with payment due dates. It is important to pay property taxes on time to avoid penalties and interest charges.
Overall, property taxes play an important role in funding local government services such as schools, roads, and public safety.
If you want appeal your property tax assessment - contact your local tax assessor.
Shiawassee County Property Tax Rates
The Shiawassee County Property Tax rates are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General | $1.4777 |
| County Debt | $0.0955 |
| County Library | $0.3915 |
| County Parks | $0.1872 |
| County Veterans | $0.0437 |
| City of Corunna | $16.6314 |
| City of Durand | $15.0693 |
| City of Laingsburg | $16.5049 |
| City of Owosso | $16.5976 |
| Village of Bancroft | $16.3029 |
| Village of Byron | $18.2991 |
| Village of Lennon | $16.8681 |
| Village of Morrice | $16.6499 |
| Village of New Lothrop | $17.9742 |
These rates are subject to change, and individuals should always refer to the official tax records for the most up-to-date information.
Who sets property tax rates in Shiawassee County ?
In Shiawassee County, property tax rates are set by the local government authorities. This includes the county board of commissioners, the Shiawassee County treasurer, and the local city or township boards. These authorities set the tax rates annually, typically during their budgeting process for the upcoming fiscal year. The rates are based on the assessed value of the property and may vary depending on the location and various factors such as school district levies. Property owners in Shiawassee County can expect to receive their property tax bills in July and December each year.
Homestead exemptions in Shiawassee County ?
To provide valuable information for Shiawassee County residents, here's a table that includes all county-specific Homestead exemptions and deductions:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Principal Resident Exemption | Must own and occupy the property as their primary residence | 18 mills of property taxes | Automatic for those who qualify |
| Personal Property Exemption | Must be a resident who owns personal property used for agricultural or industrial purposes | Up to $80,000 | Must apply by February 20th |
| Veteran Exemption | Must have served in the military during a time of war or conflict and be honorably discharged | Up to $250 | Must provide proof of service |
| Paraplegic Exemption | Must be a resident who has been determined to be totally and permanently disabled | Up to 100% of property taxes | Must provide proof of disability |
| Poverty Exemption | Must have an income below the federal poverty guidelines and be unable to pay property taxes | Varies based on individual circumstances | Must apply and prove eligibility |
| Renaissance Zone Exemption | Must own property located in a designated Renaissance Zone | Varies based on individual circumstances | Must apply and meet eligibility criteria |
It's important to note that these exemptions and deductions are specific to Shiawassee County and may not be applicable in other Michigan counties. Additionally, eligibility requirements and amounts are subject to change, so it's important to stay up-to-date on any updates or changes to these programs.
When is Shiawassee County Property Tax due ?
Shiawassee County Property Tax is typically due on March 1st of each year. If the due date falls on a weekend or holiday, the deadline is extended to the next business day.
Payment methods for Shiawassee County Property Tax include:
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Mail: Payments can be sent to the Shiawassee County Treasurer's Office at 201 N. Shiawassee St., Corunna, MI 48817.
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In-person: Payments can be made at the Treasurer's Office during normal business hours, Monday through Friday from 8:00 am to 4:30 pm. The office is located on the first floor of the courthouse.
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Online: Payments can be made online through the Shiawassee County website using a credit card or electronic check. A convenience fee will apply.
It is important to note that failure to pay property taxes on time can result in penalties and interest charges. It is recommended to pay on time to avoid any additional fees.
If you have more questions - contact your local tax collector.
How is Shiawassee County Property Tax penalty calculated ?
Shiawassee County calculates property tax penalty based on the amount of unpaid taxes and how many days they are overdue. Here is a breakdown of how the penalty is calculated:
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Unpaid taxes: let's say John owns a property in Shiawassee County and owes $2,000 in property taxes for the year.
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Due date: the due date for the property taxes is typically February 14th of each year.
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Overdue: if John hasn't paid his taxes by the due date, he is considered overdue. A 1% penalty is added on March 1st, and an additional 1% each month thereafter, up to a maximum of 5%.
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Penalty calculation: let's say John didn't pay his taxes until July 1st, which means they are 4 months overdue. The penalty calculation would be as follows:
- March 1st: 1% penalty added = $20
- April 1st: 2% penalty added = $40
- May 1st: 3% penalty added = $60
- June 1st: 4% penalty added = $80
Total penalty = $200
- Total amount due: the total amount due would be the original $2,000 property tax plus the $200 penalty, for a total of $2,200.
It's important to note that if John still hasn't paid his property taxes by the following February 14th, he would be considered delinquent and could face additional penalties and even foreclosure.
Overall, it's important for property owners in Shiawassee County to pay their property taxes on time to avoid penalties and potential legal issues.
We recommend contacting the Shiawassee County Tax Office or a local tax professional for the most up-to-date and accurate information.