Frederic, Michigan Property Taxes
The median property tax rate in Frederic, MI is 0.85%, which is lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $102,400 in Frederic, the typical annual property tax bill amounts to $860, significantly below the national median of $2,690. Property taxes in Frederic are calculated based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a comprehensive understanding of Frederic's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Frederic or another part of Crawford County, familiarizing yourself with the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Frederic, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$870
Ownwell’s Frederic Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Frederic with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Frederic to provide an accurate property tax bill estimate. This valuable tool helps you understand your potential tax liabilities. For those interested in exploring trends at a neighborhood level, additional localized information is available below. Your property’s assessed value, determined by Crawford County, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Frederic, Michigan
Property taxes in Frederic, Michigan, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Frederic is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Frederic set these rates annually, and they can vary significantly across different neighborhoods. Each year, Frederic 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. Understanding how Frederic's effective property tax rate compares to other areas helps homeowners gain a clearer picture of their property tax obligations relative to neighboring regions. For comparison, the zip code 49733 in Crawford County has the same median property tax rate of 0.85%. This uniformity provides valuable insights into the consistent tax landscape across Crawford County, helping homeowners understand their property tax obligations in relation to nearby areas.
Average Frederic Tax Rate
0.85%
Average Crawford County Tax Rate
0.70%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Frederic, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49733 | 0.49% | 0.59% | 0.85% | 1.29% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Frederic, Michigan
In Frederic, 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 Frederic, 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 Frederic helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Frederic is $860.00 in zip code 49733, which also has the lowest median tax bill at $860.00.
Average Frederic Assessed Value
$102,400
Average Crawford County Assessed Value
$114,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Frederic, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49733 | $28,080 | $52,400 | $102,400 | $168,400 | $247,360 |
Source: Ownwell
Property Tax Bills Across Frederic, Michigan
Property tax bills in Frederic, Crawford County, MI, are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value typically represents 50% of the property's market value. For example, with a median home price of $102,400 in Frederic, the assessed value would be around $51,200. The tax rate in Frederic is applied to this assessed value to determine the annual tax bill. Homeowners in Frederic can expect to pay a range of property taxes depending on their specific property values. At the 25th percentile, the tax bill is approximately $469, while at the 75th percentile, it rises to about $1442. The top 10% of tax bills can reach up to $2302. Compared to the national median property tax rate of 0.99%, homeowners in Frederic may find their tax rates to be relatively manageable. However, the exact impact on individual homeowners will vary based on their property's assessed value and the specific tax rate applied.
Average Frederic Tax Bill
$860
Average Crawford County Tax Bill
$853
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Frederic, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49733 | $276 | $469 | $860 | $1,442 | $2,302 |
Source: Ownwell