Harrisville, Michigan Property Taxes
The median property tax rate in Harrisville, MI is 0.56%, considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Harrisville at $134,600, the typical annual property tax bill reaches $918, significantly below the national median of $2,690. Property taxes in Harrisville 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 Harrisville'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 Harrisville 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
Harrisville, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$754
Ownwell’s Harrisville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harrisville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harrisville 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 Harrisville, Michigan
Property taxes in Harrisville, Michigan, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Harrisville is 0.56%, which is significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Harrisville set these rates annually, and they can vary across different neighborhoods. Each year, Harrisville 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 Harrisville's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48740 zip code has both the highest and lowest median property tax rate of 0.56%. Understanding how these cities compare with Harrisville 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 Harrisville Tax Rate
0.56%
Average Alcona County Tax Rate
0.72%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harrisville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48740 | 0.44% | 0.51% | 0.56% | 1.12% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Harrisville, Michigan
In Harrisville, 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 local 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 Harrisville, 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. Being aware of these valuation processes in Harrisville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 48740 at $918, which is also the lowest median tax bill in the area.
Average Harrisville Assessed Value
$134,600
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 Harrisville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48740 | $53,240 | $84,200 | $134,600 | $222,800 | $367,880 |
Source: Ownwell
Property Tax Bills Across Harrisville, Michigan
In Harrisville, MI, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $134,600, the assessed value is determined and then multiplied by the local tax rate. Homeowners in Harrisville can expect property tax bills to vary significantly. The 25th percentile tax bill is around $563, while the 75th percentile rises to approximately $1,632. At the higher end, the 90th percentile tax bill can reach up to $3,090. Several factors influence these tax bills, including the home's assessed value, the local tax rate, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Harrisville's tax bills reflect the local economic conditions and funding needs for public services such as schools and infrastructure. Homeowners should be aware of how these factors affect their annual tax obligations, as well as the potential for appealing their assessed values to ensure fair taxation.
Average Harrisville Tax Bill
$918
Average Alcona County Tax Bill
$819
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Harrisville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48740 | $357 | $563 | $918 | $1,632 | $3,090 |
Source: Ownwell