Mio, Oscoda County, Michigan Property Taxes
Median MIO, MI effective property tax rate: 0.79%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median MIO, MI home value: $62,000
Median annual MIO, MI tax bill: $510, $1,890 lower than the national median property tax bill of $2,400.
How are property taxes in Oscoda calculated?
Property taxes in MIO, 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 MIO’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in MIO, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Mio, Oscoda County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.14%
Estimate Property Tax Bill
$939
$872
Property Tax Rates Across Mio, Oscoda County, Michigan
Local government entities set tax rates, which can vary widely within a state. This variation is because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws are involved in setting tax rates and budgets, this is the annual process in a nutshell.
In Mio, located in Oscoda County, Michigan, the effective property tax rate is 0.79%, which is below the national median of 1.02%. Compared to the national median property tax bill of $2,400, residents in Mio benefit from a lower tax burden. This lower rate can be an attractive factor for potential property buyers or investors looking for regions with a more favorable tax environment. Understanding these rates can help property owners make informed decisions about their investments and financial planning. By offering property tax appeal and exemption services, we can assist you in navigating and potentially reducing your property tax liabilities in this region.
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 Mio Tax Rate
1.14%
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 Oscoda County Tax Rate
1.15%
Median Effective Michigan Tax Rate
1.05%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Mio, Oscoda County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48647 | 0.72% | 0.84% | 1.14% | 1.49% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Mio, Oscoda County, Michigan
When examining property taxes in Mio, 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 Oscoda 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 Oscoda 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 Mio.
For example, the median home price in Mio is $62,000, with tax bills ranging significantly across the county. Zip code 48647 has the highest median home price at $62,000.
Property Tax Assessment Values Across Mio, Oscoda County, Michigan
Source: Ownwell
$75,400
$96,600
$117,800
Median Mio Market Value
$82,400
Median Oscoda County Market Value
$93,600
Median Michigan Market Value
$213,740
Median United States Market Value
$235,294
Property Tax Assessment Values Across Mio, Oscoda County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48647 | $27,440 | $48,800 | $82,400 | $138,000 | $208,960 |
Source: Ownwell
Property Tax Bills Across Mio, Oscoda County, Michigan
Median Mio Tax Bill
$886
Median Oscoda County Tax Bill
$981
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across Mio, Oscoda County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48647 | $339 | $541 | $886 | $1,465 | $2,293 |
Source: Ownwell