Rose City, Michigan Property Taxes
The median property tax rate in Rose City, MI is 1.21%, noticeably higher than both the national median of 0.99% and Michigan's state median of 1.07%. With the median home value in Rose City, the typical annual property tax bill reaches $555, which is below the national median of $2,690. Property taxes in Rose City 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 Rose City'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 Rose City or another part of Oscoda County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rose City, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$690
Ownwell’s Rose City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rose City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rose City 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 Rose City, Michigan
Property taxes in Rose City, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rose City is 1.21%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Rose City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rose City 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 Rose City's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48654 zip code has both the highest and lowest median property tax rate of 1.21%. Understanding how these cities compare with Rose City provides valuable insights into the varying tax landscape across Oscoda County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rose City Tax Rate
1.21%
Average Oscoda County Tax Rate
0.74%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rose City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48654 | 0.55% | 0.67% | 1.21% | 1.38% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Rose City, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Rose City, Michigan. 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 Oscoda 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 Rose City, 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 Rose City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Rose City, the median home price is $57,000. The 25th percentile of tax bills is $293, while the 75th percentile is $976, and the 90th percentile reaches $1,730. The highest and lowest median tax bill is $555, found in zip code 48654. This local data can help homeowners gauge their property tax expectations relative to national trends, where the median property tax rate is 0.99%.
Average Rose City Assessed Value
$57,000
Average Oscoda County Assessed Value
$55,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rose City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48654 | $6,000 | $26,000 | $57,000 | $111,200 | $165,480 |
Source: Ownwell
Property Tax Bills Across Rose City, Michigan
In Rose City, located in Oscoda County, MI, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the market value, which is determined by local assessors. Homeowners in Rose City can expect their property tax bill to vary widely, depending on the assessed value of their property and the applicable tax rate. For instance, the median home price in Rose City is $57,000. Tax bills can range significantly, with the 25th percentile at $293 and the 75th percentile at $976. The highest median tax bill recorded is $555 in the 48654 zip code. These figures highlight the variability in tax burdens, which can impact homeowners differently based on their property's assessed value. Understanding these factors can help homeowners better anticipate their annual tax obligations and plan their finances accordingly. The national median property tax rate is 0.99%, providing a useful benchmark for comparing local rates.
Average Rose City Tax Bill
$555
Average Oscoda County Tax Bill
$412
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Rose City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48654 | $70 | $293 | $555 | $976 | $1,730 |
Source: Ownwell