Kewadin, Michigan Property Taxes
The median property tax rate in Kewadin, MI is 0.64%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Kewadin at $543,900, the typical annual property tax bill reaches $3,750, surpassing the national median of $2,690. Property taxes in Kewadin 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 Kewadin'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 Kewadin or another part of Antrim County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kewadin, Michigan Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$2,140
Ownwell’s Kewadin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kewadin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kewadin 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 Kewadin, Michigan
Property taxes in Kewadin, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kewadin is 0.64%, significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Kewadin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kewadin 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 Kewadin's effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 49648 has both the highest and lowest median property tax rate of 0.64%. Understanding how these areas compare with Kewadin provides valuable insights into the varying tax landscape across Antrim County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kewadin Tax Rate
0.64%
Average Antrim County Tax Rate
0.72%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kewadin, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49648 | 0.39% | 0.50% | 0.64% | 1.08% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Kewadin, Michigan
In Kewadin, 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 Antrim 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 Kewadin, 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 Kewadin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 49648 has both the highest and lowest median tax bill at $3,750, highlighting the uniformity in property tax distribution within the area.
Average Kewadin Assessed Value
$543,900
Average Antrim County Assessed Value
$211,000
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kewadin, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49648 | $156,700 | $251,000 | $543,900 | $1,001,400 | $1,431,360 |
Source: Ownwell
Property Tax Bills Across Kewadin, Michigan
In Kewadin, located in Antrim County, MI, property tax bills are calculated based on the assessed value of the property, which is typically 50% of its market value. For instance, with a median home price of $543,900, the assessed value would be approximately $271,950. The tax rate is then applied to this assessed value to determine the annual property tax bill. Various factors influence this calculation, including the local tax rate, property improvements, and any applicable exemptions. Homeowners in Kewadin experience a range of property tax bills. At the 25th percentile, the tax bill is around $1,689, while at the 75th percentile, it rises to $7,232. For those at the 90th percentile, the tax bill can be as high as $11,964. The median property tax bill in the area is $3,750, which is notably higher than the national median property tax rate of 0.99%. This higher tax burden can significantly impact homeowners, influencing their overall housing costs and financial planning.
Average Kewadin Tax Bill
$3,750
Average Antrim County Tax Bill
$1,488
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Kewadin, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49648 | $923 | $1,689 | $3,750 | $7,232 | $11,964 |
Source: Ownwell