Spruce, Michigan Property Taxes
The median property tax rate in Spruce, MI is 0.93%, slightly below the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Spruce at $132,800, the typical annual property tax bill is $995, which is significantly lower than the national median of $2,690. Property taxes in Spruce are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Spruce'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 Spruce 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
Spruce, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$1,235
Ownwell’s Spruce Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Spruce with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spruce 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 Spruce, Michigan
Property taxes in Spruce, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spruce is 0.93%, slightly below the U.S. national median of 0.99%. Local government entities within Spruce set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spruce 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 Spruce's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48721 zip code has the highest median property tax rate of 1.25%, while the 48728 zip code has the lowest median tax rate of 0.50%. Understanding how these cities compare with Spruce 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 Spruce Tax Rate
0.93%
Average Alcona County Tax Rate
0.72%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spruce, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48721 | 1.25% | 1.25% | 1.25% | 1.25% | 1.25% |
| 48728 | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% |
| 48762 | 0.46% | 0.54% | 0.93% | 1.23% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Spruce, Michigan
In Spruce, 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 Spruce, 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 Spruce helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Spruce is found in zip code 48762 at $1,000, while the lowest is in zip code 48721 at $638.
Average Spruce Assessed Value
$132,800
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 Spruce, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48721 | $51,000 | $51,000 | $51,000 | $51,000 | $51,000 |
| 48728 | $142,400 | $142,400 | $142,400 | $142,400 | $142,400 |
| 48762 | $43,300 | $78,400 | $132,800 | $222,800 | $326,800 |
Source: Ownwell
Property Tax Bills Across Spruce, Michigan
In Spruce, MI, property tax bills are calculated based on the assessed value of your home, which is determined by the local assessor. The assessed value is typically a percentage of the market value of your property. For instance, the median home price in Spruce is $132,800. Once the assessed value is established, the local tax rate is applied to this value to determine your tax bill. Several factors influence the assessed value, including the size of your property, the condition of your home, and recent sales of similar properties in the area. In Spruce, property tax bills can vary significantly. The 25th percentile tax bill is around $595, while the 75th percentile reaches $1,829. High-end properties can see tax bills as high as $3,037. Homeowners in Spruce should be aware that their property tax bill is a significant part of their annual expenses. Comparing it to the national median property tax rate of 0.99%, Spruce's rates can be considered relatively moderate, but they still represent a considerable financial commitment for residents.
Average Spruce Tax Bill
$995
Average Alcona County Tax Bill
$819
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Spruce, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48721 | $638 | $638 | $638 | $638 | $638 |
| 48728 | $712 | $712 | $712 | $712 | $712 |
| 48762 | $357 | $594 | $1,000 | $1,830 | $3,039 |
Source: Ownwell