Wellston, Michigan Property Taxes
The median property tax rate in Wellston, MI is 1.34%, considerably higher than both the national median of 0.99% and Michigan's state median of 1.07%. With the median home value in Wellston at $76,200, the typical annual property tax bill reaches $994, which is below the national median of $2,690. Property taxes in Wellston 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 Wellston'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 Wellston 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
Wellston, Michigan Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$2,140
Ownwell’s Wellston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wellston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wellston 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 Wellston, Michigan
Property taxes in Wellston, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wellston is 1.34%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Wellston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wellston 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 Wellston's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49689 zip code has both the highest and lowest median property tax rates at 1.34%. Understanding how these areas compare with Wellston provides valuable insights into the varying tax landscape across Manistee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wellston Tax Rate
1.34%
Average Manistee County Tax Rate
1.18%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wellston, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49689 | 0.88% | 1.04% | 1.34% | 1.70% | 2.04% |
Source: Ownwell
Property Tax Assessment Values Across Wellston, Michigan
In Wellston, 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 Manistee 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 Wellston, 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. The median home price in Wellston is $76,200, with tax bills ranging from $605 at the 25th percentile to $2,346 at the 90th percentile. The zip code 49689 has the highest and lowest median tax bill of $994. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wellston Assessed Value
$76,200
Average Manistee County Assessed Value
$141,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wellston, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49689 | $27,400 | $45,600 | $76,200 | $120,850 | $180,320 |
Source: Ownwell
Property Tax Bills Across Wellston, Michigan
In Wellston, located in Manistee County, MI, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by local assessors and typically represents a percentage of the market value. Homeowners in Wellston face a median property tax bill of $994, which aligns with the highest and lowest median tax bills in the area, both recorded at $994 in the zip code 49689. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. For instance, the 25th percentile tax bill is $605, while the 75th percentile tax bill reaches $1574, indicating a range of tax obligations depending on property values and other factors. Compared to the national median property tax rate of 0.99%, Wellston's tax rate can significantly impact homeowners, especially those with higher-valued properties. Understanding these elements helps homeowners anticipate their annual tax responsibilities and plan their finances accordingly.
Average Wellston Tax Bill
$994
Average Manistee County Tax Bill
$1,612
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Wellston, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49689 | $379 | $605 | $994 | $1,574 | $2,346 |
Source: Ownwell