Rosebush, Michigan Property Taxes
The median property tax rate in Rosebush, MI is 0.73%, which is notably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $127,400 in Rosebush, the typical annual property tax bill amounts to $940, significantly below the national median of $2,690. Property taxes in Rosebush 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 Rosebush'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 Rosebush 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
Rosebush, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$930
Ownwell’s Rosebush Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rosebush with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rosebush 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 Rosebush, Michigan
Property taxes in Rosebush, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rosebush is 0.73%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Rosebush set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rosebush 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 Rosebush's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48878 zip code has the highest median property tax rate of 0.73%, while the 48878 zip code also has the lowest median tax rate of 0.73%. Understanding how these cities compare with Rosebush 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 Rosebush Tax Rate
0.73%
Average Isabella County Tax Rate
0.80%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rosebush, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48878 | 0.54% | 0.62% | 0.73% | 1.07% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Rosebush, Michigan
In Rosebush, 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. 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. The median home price in Rosebush is $127,400, with tax bills ranging from $675 at the 25th percentile to $2,134 at the 90th percentile. The highest and lowest median tax bills are both $940 in the 48878 zip code. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Rosebush Assessed Value
$127,400
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 Rosebush, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48878 | $62,800 | $94,100 | $127,400 | $174,150 | $230,820 |
Source: Ownwell
Property Tax Bills Across Rosebush, Michigan
In Rosebush, located in Isabella County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is a percentage of the market value of the property. Various factors such as the size, location, and condition of the property are considered during the assessment process. The tax rate is then applied to the assessed value to determine the final tax bill. For example, with a median home price of $127,400 in Rosebush, homeowners can expect their property tax bills to vary. At the 25th percentile, the tax bill is around $675, while at the 75th percentile, it can go up to $1,442. The 90th percentile sees even higher tax bills, reaching up to $2,134. These variations can significantly impact homeowners' finances, especially when compared to the national median property tax rate of 0.99%. Understanding these factors is crucial for homeowners to anticipate their annual property tax expenses accurately.
Average Rosebush Tax Bill
$940
Average Isabella County Tax Bill
$1,118
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Rosebush, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48878 | $469 | $675 | $940 | $1,442 | $2,134 |
Source: Ownwell