48623 Property Tax Rate

Property owners in ZIP code 48623 (Freeland, Michigan) pay a median of $3,019/year in property taxes on homes valued at $230,300. This translates to an effective tax rate of 1.31%, which is 7% above the Michigan state average of 1.22%.

The monthly property tax burden for a median-valued home in 48623 is approximately $252, which factors into escrow payments on mortgages. This ZIP code is located within Saginaw County. This is $593 more than the Michigan average of $2,426/year.

Compared to similar ZIP codes in Michigan, 48623 has higher property taxes. ZIP codes with similar effective rates include 48313 (1.31%) and 48701 (1.31%).

In Freeland, property taxes represent approximately 3.1% of the median household income of $96,371, providing context for the relative tax burden on homeowners in this area.

Michigan Proposal A requires uncapping at sale, meaning your assessed value resets to purchase price and your taxes may jump significantly in year one. The Principle Residence Exemption (PRE) exempts school operating millage from taxation on primary residences — contact the Saginaw County Assessor immediately after closing to file and verify you receive this critical exemption. Confirm your base year value and PRE approval before your first tax bill arrives.