Curran, Michigan Property Taxes
The median property tax rate in Curran, MI is 0.50%, considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Curran, the typical annual property tax bill reaches $498, significantly below the national median of $2,690. Property taxes in Curran are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Curran's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Curran or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Curran, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$499
Ownwell’s Curran Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Curran with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Curran to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Curran, Michigan
Property taxes in Curran, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Curran is 0.50%, which is higher than the Michigan state median and the U.S. national median of 0.99%. Local government entities within Curran set these rates annually, and they can vary significantly across different neighborhoods. Each year, Curran estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Curran's effective property tax rate to other counties in Michigan and the national median. For comparison, the area with the highest median property tax rate in Alcona County has a rate of 0.50%, while the area with the lowest median tax rate has a rate of 0.46%. Understanding how these cities compare with Curran provides valuable insights into the varying tax landscape across Alcona County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Curran Tax Rate
0.50%
Average Alcona County Tax Rate
0.72%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Curran, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48721 | 0.46% | 0.46% | 0.48% | 0.49% | 0.49% |
| 48728 | 0.38% | 0.45% | 0.50% | 0.53% | 1.22% |
| 48762 | 0.46% | 0.46% | 0.46% | 0.46% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Curran, Michigan
In Curran, Michigan, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Alcona County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Curran, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The highest median tax bill in Alcona County is $500 in the 48728 zip code, while the lowest is $126 in the 48721 zip code. Being aware of these valuation processes in Curran helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Curran Assessed Value
$99,800
Average Alcona County Assessed Value
$114,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Curran, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48721 | $22,840 | $24,100 | $26,200 | $28,300 | $29,560 |
| 48728 | $28,160 | $51,200 | $100,200 | $168,900 | $263,720 |
| 48762 | $92,800 | $92,800 | $92,800 | $92,800 | $92,800 |
Source: Ownwell
Property Tax Bills Across Curran, Michigan
In Curran, located in Alcona County, MI, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is typically a percentage of the market value of the home, which in Curran has a median home price of $99,800. The local tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. For instance, the 25th percentile tax bill in Curran is $250, while the 75th percentile tax bill reaches $988. Homeowners in the 90th percentile face a tax bill of $1,691, which indicates a range of tax burdens based on property characteristics and valuation. Comparatively, the national median property tax rate is 0.99%, and Curran's tax bills reflect how local rates and property values interact. This variability affects homeowners differently, influencing their annual financial obligations and potentially impacting their decisions to buy, sell, or invest in property within the area.
Average Curran Tax Bill
$498
Average Alcona County Tax Bill
$819
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Curran, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48721 | $105 | $113 | $126 | $139 | $147 |
| 48728 | $157 | $252 | $500 | $992 | $1,699 |
| 48762 | $424 | $424 | $424 | $424 | $424 |
Source: Ownwell