Mc Bain, Michigan Property Taxes
The median property tax rate in McBain, MI is 0.77%, considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in McBain at $141,400, the typical annual property tax bill reaches $1,131, which is significantly below the national median of $2,690. Property taxes in McBain are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding McBain'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 McBain or another part of Missaukee County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mc Bain, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$1,089
Ownwell’s MC Bain Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MC Bain with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MC Bain 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 Mc Bain, Michigan
Property taxes in McBain, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McBain is 0.77%, lower than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within McBain set these rates annually, and they can vary significantly across different neighborhoods. Each year, McBain 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 McBain's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49657 zip code has the highest median property tax rate of 0.77%, while the 49657 zip code also has the lowest median tax rate of 0.77%. Understanding how these areas compare with McBain provides valuable insights into the varying tax landscape across Missaukee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Bain Tax Rate
0.77%
Average Missaukee County Tax Rate
0.95%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Bain, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49657 | 0.41% | 0.61% | 0.77% | 0.98% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Mc Bain, Michigan
In McBain, 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 Missaukee 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 McBain, 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 McBain helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in McBain is $141,400, with tax bills ranging from $614 at the 25th percentile to $2,828 at the 90th percentile. The zip code 49657 has both the highest and lowest median tax bill of $1,131.
Average Mc Bain Assessed Value
$141,400
Average Missaukee County Assessed Value
$117,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mc Bain, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49657 | $31,000 | $80,000 | $141,400 | $233,400 | $371,200 |
Source: Ownwell
Property Tax Bills Across Mc Bain, Michigan
In McBain, located in Missaukee County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is applied to this assessed value to determine the annual property tax bill. Factors such as the home's size, location, and improvements can influence its assessed value, along with any applicable exemptions or deductions. For homeowners in McBain, the tax bill can vary significantly. The median home price in the area is $141,400. At the 25th percentile, property tax bills are around $614, while those in the 75th percentile can reach $1,814. For the top 10% of properties, tax bills can be as high as $2,828. These figures highlight the range of property tax obligations homeowners might face. Compared to the national median property tax rate of 0.99%, McBain's property tax rates can be considered relatively moderate, providing a balanced approach to funding local services and infrastructure.
Average Mc Bain Tax Bill
$1,131
Average Missaukee County Tax Bill
$1,099
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Bain, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49657 | $280 | $614 | $1,131 | $1,814 | $2,828 |
Source: Ownwell