Clare, Michigan Property Taxes
The median property tax rate in Clare, MI is 1.14%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Clare at $121,400, the typical annual property tax bill reaches $1,384, which is below the national median of $2,690. Property taxes in Clare 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 Clare'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 Clare 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
Clare, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$1,384
Ownwell’s Clare Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clare with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clare 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 Clare, Michigan
Property taxes in Clare, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clare is 1.14%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Clare set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clare 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 Clare's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48617 zip code has both the highest and lowest median property tax rate of 1.14%. Understanding how these areas compare with Clare provides valuable insights into the varying tax landscape across Isabella County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clare Tax Rate
1.14%
Average Isabella County Tax Rate
0.80%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clare, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48617 | 0.84% | 0.99% | 1.14% | 1.51% | 2.08% |
Source: Ownwell
Property Tax Assessment Values Across Clare, Michigan
In Clare, 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 Isabella 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 Clare, 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. Clare's median home price is $121,400, with tax bills ranging from $1,002 at the 25th percentile to $2,780 at the 90th percentile. The zip code 48617 has the highest and lowest median tax bill at $1,384. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Clare Assessed Value
$121,400
Average Isabella County Assessed Value
$140,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clare, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48617 | $42,240 | $76,000 | $121,400 | $178,000 | $254,960 |
Source: Ownwell
Property Tax Bills Across Clare, Michigan
In Clare, located in Isabella County, MI, property tax bills are calculated based on the assessed value of a home, which is typically half of its market value. For instance, with a median home price of $121,400, the assessed value would be approximately $60,700. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors influence the final tax bill, including local government budgets, school district funding, and public services. Additionally, individual homeowner circumstances, such as eligibility for exemptions, can affect the amount owed. Homeowners in Clare experience tax bills that vary significantly. The 25th percentile tax bill is around $1,002, while the 75th percentile reaches up to $2,037, and the 90th percentile can be as high as $2,780. These variations highlight how different factors, such as property value and applicable exemptions, impact the overall tax burden on homeowners. Understanding these components helps homeowners better anticipate and manage their annual property tax expenses.
Average Clare Tax Bill
$1,384
Average Isabella County Tax Bill
$1,118
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Clare, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48617 | $601 | $1,002 | $1,384 | $2,037 | $2,780 |
Source: Ownwell