Caseville, Michigan Property Taxes
The median property tax rate in Caseville, MI is 1.33%, significantly higher than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value in Caseville of $136,000, the typical annual property tax bill reaches $1,709, still below the national median of $2,690. Property taxes in Caseville 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 Caseville'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 Caseville 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
Caseville, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$1,809
Ownwell’s Caseville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Caseville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Caseville 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 Caseville, Michigan
Property taxes in Caseville, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Caseville is 1.33%, significantly higher than the U.S. national median of 0.99%. Local government entities within Caseville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Caseville 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 Caseville's effective property tax rate to other areas in Michigan and the national median. For comparison, the 48725 zip code has the highest median property tax rate of 1.33%, while the same zip code also has the lowest median tax rate of 1.33%. Understanding how these cities compare with Caseville provides valuable insights into the varying tax landscape across Huron County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Caseville Tax Rate
1.33%
Average Huron County Tax Rate
1.19%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Caseville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48725 | 0.83% | 1.02% | 1.33% | 1.65% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Caseville, Michigan
In Caseville, 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 Huron 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 Caseville, 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 Caseville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Caseville is $136,000, with the median tax bill being $1,709 in zip code 48725.
Average Caseville Assessed Value
$136,000
Average Huron County Assessed Value
$119,000
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Caseville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48725 | $39,400 | $79,800 | $136,000 | $238,850 | $386,420 |
Source: Ownwell
Property Tax Bills Across Caseville, Michigan
In Caseville, property tax bills are calculated based on the assessed value of a home, which is determined by the Huron County Assessor's Office. The assessed value generally reflects a percentage of the property's market value. Property taxes are then applied based on the local tax rate, which can vary within different parts of Huron County. For instance, Caseville's median home price is $136,000. Homeowners in Caseville can expect their property tax bills to range widely. At the 25th percentile, the tax bill is approximately $1,025, while at the 75th percentile, it rises to about $3,062. The tax bill can reach up to $5,472 for those in the 90th percentile. The highest median tax bill in the area is $1,709, which is significantly higher than the national median property tax rate of 0.99%. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for Caseville residents.
Average Caseville Tax Bill
$1,709
Average Huron County Tax Bill
$1,405
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Caseville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48725 | $632 | $1,025 | $1,709 | $3,062 | $5,472 |
Source: Ownwell