Paris, Michigan Property Taxes
The median property tax rate in Paris, MI is 1.13%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Paris, the typical annual property tax bill reaches $1,094, exceeding the national median of $2,690. Property taxes in Paris 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 Paris'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 Paris 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
Paris, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$1,116
Ownwell’s Paris Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Paris, MI. By simply inputting your property's estimated assessed value, the calculator uses the median tax rate in Paris to provide an accurate estimate of your property tax bill. This valuable resource helps you understand your potential tax liabilities with ease. For those interested in more localized information, additional neighborhood trends are available by scrolling down. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions. This ensures you have a clear picture of your financial obligations.
Property Tax Rates Across Paris, Michigan
Property taxes in Paris, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paris is 1.13%, significantly higher than the U.S. national median of 0.99%. Local government entities within Paris set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paris 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 Paris's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49338 zip code has the highest median property tax rate of 1.13%, while the same zip code also has the lowest median tax rate of 1.13%. Understanding how these areas compare with Paris provides valuable insights into the varying tax landscape across Osceola County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Paris Tax Rate
1.13%
Average Osceola County Tax Rate
1.27%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paris, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49338 | 0.85% | 0.93% | 1.13% | 1.38% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Paris, Michigan
In Paris, 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 Osceola 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 Paris, 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 Paris helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 49338, with a median tax bill of $1,094.
Average Paris Assessed Value
$98,800
Average Osceola County Assessed Value
$109,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Paris, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49338 | $57,780 | $71,100 | $98,800 | $171,450 | $261,960 |
Source: Ownwell
Property Tax Bills Across Paris, Michigan
In Paris, located in Osceola County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is typically a percentage of the market value of the property. Homeowners in Paris face a median property tax rate that is influenced by various factors, including local government budgets and public service needs. For a home with a median price of $98,800, property tax bills can vary significantly. The 25th percentile tax bill is around $836, while the 75th percentile reaches $1,695, and the 90th percentile can be as high as $2,465. These figures illustrate the range of property tax burdens that homeowners might encounter. Compared to the national median property tax rate of 0.99%, homeowners in Paris may find their tax bills relatively manageable, though individual circumstances can vary widely. Understanding these factors is crucial for homeowners to budget effectively and anticipate their annual property tax obligations.
Average Paris Tax Bill
$1,094
Average Osceola County Tax Bill
$1,382
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Paris, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49338 | $741 | $836 | $1,094 | $1,695 | $2,465 |
Source: Ownwell