Carney, Michigan Property Taxes
The median property tax rate in Carney, MI is 0.30%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $93,000 in Carney, the typical annual property tax bill amounts to $265, which is well below the national median of $2,690. Property taxes in Carney are based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Carney'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 Carney 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
Carney, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.3%
Estimate Property Tax Bill
$279
Ownwell’s Carney Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carney with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carney 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 Carney, Michigan
Property taxes in Carney, Michigan, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carney is 0.30%, significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Carney set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carney 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 Carney's effective property tax rate to other counties in Michigan and the national median. Understanding how these cities compare with Carney provides valuable insights into the varying tax landscape across Menominee, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carney Tax Rate
0.30%
Average Menominee County Tax Rate
0.31%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carney, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49812 | 0.16% | 0.22% | 0.30% | 0.38% | 0.43% |
Source: Ownwell
Property Tax Assessment Values Across Carney, Michigan
In Carney, 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 Menominee 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 Carney, 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 Carney is $93,000, with tax bills ranging from $156 at the 25th percentile to $586 at the 90th percentile. The zip code 49812 has both the highest and lowest median tax bill at $265. Being aware of these valuation processes in Carney helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Carney Assessed Value
$93,000
Average Menominee County Assessed Value
$92,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carney, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49812 | $36,220 | $60,200 | $93,000 | $139,050 | $179,260 |
Source: Ownwell
Property Tax Bills Across Carney, Michigan
Property tax bills in Carney, located in Menominee County, MI, are calculated based on the assessed value of a property, which is often a percentage of the market value. For instance, with a median home price of $93,000, the tax bill can vary significantly. Homeowners in the 25th percentile can expect a tax bill around $156, while those in the 75th percentile might see bills closer to $427. At the 90th percentile, the tax bill can reach up to $586. These values are influenced by various factors, including property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Carney's tax rates reflect a localized approach to property taxation. This variability in tax bills can impact homeowners' financial planning, making it crucial to understand how assessed values and local tax rates contribute to the final amount owed. The highest and lowest median tax bill in the area, both at $265, further illustrate the range of property tax obligations in Carney.
Average Carney Tax Bill
$265
Average Menominee County Tax Bill
$274
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Carney, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49812 | $87 | $156 | $265 | $427 | $586 |
Source: Ownwell