48463 Property Tax Rate

Property owners in ZIP code 48463 (Otisville, Michigan) pay a median of $2,200/year in property taxes on homes valued at $179,000. This translates to an effective tax rate of 1.23%, which is near the Michigan state average of 1.22%.

The monthly property tax burden for a median-valued home in 48463 is approximately $183, which factors into escrow payments on mortgages. This ZIP code is located within Genesee County. This is $226 less than the Michigan average of $2,426/year.

Compared to similar ZIP codes in Michigan, 48463 has higher property taxes. ZIP codes with similar effective rates include 49043 (1.23%) and 48451 (1.23%).

In Otisville, property taxes represent approximately 3.1% of the median household income of $69,893, providing context for the relative tax burden on homeowners in this area.

Your assessed value will uncap at purchase under Proposal A, resetting to market value and increasing your school operating taxes compared to the prior owner's bill. Apply for the Principle Residence Exemption (PRE) with the Genesee County Assessor as your first post-closing action — this exemption removes school operating millage from taxation on owner-occupied primary residences. File the PRE application by December 1 to guarantee the exemption takes effect for the next tax year.