Paradise, Michigan Property Taxes
The median property tax rate in Paradise, MI is 1.28%, notably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $93,900 in Paradise, the typical annual property tax bill amounts to $1,177, surpassing the national median of $2,690. Property taxes in Paradise are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Paradise'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 Paradise 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
Paradise, 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 Paradise Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Paradise with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paradise 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 Paradise, Michigan
Property taxes in Paradise, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paradise is 1.28%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Paradise set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paradise 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 Paradise's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49768 zip code has the highest median property tax rate of 1.28%, while the 49783 zip code has the lowest median tax rate of 1.12%. Understanding how these cities compare with Paradise provides valuable insights into the varying tax landscape across Chippewa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Paradise Tax Rate
1.28%
Average Chippewa County Tax Rate
1.10%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paradise, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49768 | 0.61% | 0.81% | 1.28% | 1.67% | 2.04% |
| 49783 | 1.12% | 1.12% | 1.12% | 1.12% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Paradise, Michigan
In Paradise, 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 Chippewa 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 Paradise, 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 Paradise helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $1,180 in the 49768 zip code, while the lowest is $758 in the 49783 zip code.
Average Paradise Assessed Value
$93,900
Average Chippewa County Assessed Value
$103,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Paradise, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49768 | $26,880 | $54,900 | $94,000 | $173,800 | $269,320 |
| 49783 | $67,800 | $67,800 | $67,800 | $67,800 | $67,800 |
Source: Ownwell
Property Tax Bills Across Paradise, Michigan
In Paradise, located in Chippewa County, MI, property tax bills are calculated based on the assessed value of your home. The assessed value is a percentage of the market value, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine your annual property tax bill. For homeowners in Paradise, the median home price is $93,900. Tax bills can vary significantly; the 25th percentile tax bill is $598, while the 75th percentile tax bill is $2,154. At the 90th percentile, homeowners might see tax bills as high as $3,306. These variations depend on numerous factors, including property location, improvements, and local levies. Comparatively, the highest median tax bill in the area is $1,180 in the 49768 zip code, while the lowest is $758 in the 49783 zip code. Understanding these factors can help homeowners budget more effectively and potentially identify opportunities for tax appeals or exemptions.
Average Paradise Tax Bill
$1,177
Average Chippewa County Tax Bill
$1,042
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Paradise, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49768 | $310 | $598 | $1,180 | $2,155 | $3,308 |
| 49783 | $758 | $758 | $758 | $758 | $758 |
Source: Ownwell