Felch, Michigan Property Taxes
The median property tax rate in Felch, MI is 0.37%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $65,100 in Felch, the typical annual property tax bill amounts to $202, well below the national median of $2,690. Property taxes in Felch are calculated based on the tax assessed value, which is typically lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Felch'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 Felch or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Felch, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.37%
Estimate Property Tax Bill
$241
Ownwell’s Felch Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Felch with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Felch 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 Felch, Michigan
Property taxes in Felch, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Felch is 0.37%, significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Felch set these rates annually, and they can vary significantly across different neighborhoods. Each year, Felch 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 Felch's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in Michigan is found in Marquette County, with a rate of 1.72%, while the lowest median tax rate is in another region of the state. Understanding how these cities compare with Felch provides valuable insights into the varying tax landscape across the county, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Felch Tax Rate
0.37%
Average Marquette County Tax Rate
0.46%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Felch, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49831 | 0.20% | 0.27% | 0.37% | 0.43% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Felch, Michigan
In Felch, 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 Marquette 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 Felch, 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 Felch helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 49831, with a median tax bill of $202.00, which is significantly lower than the national median property tax rate of 0.99%.
Average Felch Assessed Value
$65,100
Average Marquette County Assessed Value
$155,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Felch, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49831 | $16,600 | $34,050 | $65,100 | $91,650 | $127,060 |
Source: Ownwell
Property Tax Bills Across Felch, Michigan
In Felch, located in Marquette County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the property's market value. The median home price in Felch stands at $65,100. Property tax rates are applied to this assessed value to determine the annual tax bill. Factors such as property location, market trends, and local government budgets play a role in determining the final tax amount. For homeowners in Felch, tax bills can vary significantly. For instance, the 25th percentile tax bill is around $114, while the 75th percentile reaches $349. At the 90th percentile, the tax bill can be as high as $508. The highest median tax bill in the area is $202, which falls within the zip code 49831. These variations in tax bills can affect homeowners differently, influencing their financial planning and overall cost of homeownership. Understanding these factors can help homeowners anticipate and manage their property tax obligations more effectively.
Average Felch Tax Bill
$202
Average Marquette County Tax Bill
$725
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Felch, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49831 | $45 | $114 | $202 | $349 | $508 |
Source: Ownwell