Painesdale, Michigan Property Taxes
The median property tax rate in Painesdale, MI is 1.06%, slightly higher than the national median of 0.99% but just below the Michigan state median of 1.07%. With a median home value of $70,836 in Painesdale, the typical annual property tax bill amounts to $660, which is significantly lower than the national median of $2,690. Property taxes in Painesdale are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Navigating Painesdale'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 Painesdale 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
Painesdale, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$751
Ownwell's Painesdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Painesdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Painesdale 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 Painesdale, Michigan
Property taxes in Painesdale, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Painesdale is 1.06%, higher than the U.S. national median of 0.99%. Local government entities within Painesdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Painesdale 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 Painesdale's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49955 zip code has the highest median property tax rate of 1.06%, while the same 49955 zip code also has the lowest median tax rate of 1.06%. Understanding how these cities compare with Painesdale provides valuable insights into the varying tax landscape across Houghton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Painesdale Tax Rate
1.06%
Average Houghton County Tax Rate
0.94%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Painesdale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49955 | 0.56% | 0.70% | 1.06% | 1.27% | 1.81% |
Source: Ownwell
Property Tax Assessment Values Across Painesdale, Michigan
In Painesdale, 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 Houghton 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 Painesdale, 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 Painesdale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $660.00, found in the zip code 49955.
Average Painesdale Assessed Value
$70,836
Average Houghton County Assessed Value
$95,531
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Painesdale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49955 | $27,314 | $47,534 | $70,836 | $94,814 | $134,460 |
Source: Ownwell
Property Tax Bills Across Painesdale, Michigan
In Painesdale, MI, located in Houghton County, property tax bills are calculated based on the assessed value of the property, which is determined by local assessors. The assessed value is typically a percentage of the market value. Homeowners in Painesdale face a property tax rate that is influenced by various factors, including local government budgets and public service funding needs. The median home price in Painesdale is $70,836. Property tax bills in the area vary significantly, with the 25th percentile at $460, the 75th percentile at $977, and the 90th percentile reaching $1,325. These figures indicate a range of tax burdens depending on property values and specific circumstances. The highest and lowest median tax bill in the area both stand at $660, highlighting some consistency in tax assessments within the zip code 49955. Compared to the national median property tax rate of 0.99%, Painesdale's property taxes can be seen as relatively moderate, making it an attractive location for homeowners seeking manageable tax obligations.
Average Painesdale Tax Bill
$660
Average Houghton County Tax Bill
$879
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Painesdale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49955 | $322 | $460 | $660 | $977 | $1,325 |
Source: Ownwell