Alma, Michigan Property Taxes
The median property tax rate in Alma, MI is 1.07%, matching the state median but still higher than the national median of 0.99%. With a median home value of $58,800, the typical annual property tax bill in Alma is $627, which is significantly lower than the national median of $2,690. Property taxes in Alma are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Alma'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 Alma 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
Alma, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$629
Ownwell’s Alma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alma 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 Alma, Michigan
Property taxes in Alma, Michigan, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Alma is 1.07%, which is higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Alma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alma 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 Alma's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48801 zip code has the highest median property tax rate of 1.07%, while the 48801 zip code also has the lowest median tax rate of 1.07%. Understanding how these cities compare with Alma provides valuable insights into the varying tax landscape across Roscommon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alma Tax Rate
1.07%
Average Roscommon County Tax Rate
0.50%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alma, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48801 | 1.07% | 1.07% | 1.07% | 1.07% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Alma, Michigan
In Alma, 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 Roscommon 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 Alma, 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 Alma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Alma are both $627, found in the 48801 zip code.
Average Alma Assessed Value
$58,800
Average Roscommon County Assessed Value
$114,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alma, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48801 | $58,800 | $58,800 | $58,800 | $58,800 | $58,800 |
Source: Ownwell
Property Tax Bills Across Alma, Michigan
In Alma, located in Roscommon County, MI, property tax bills are determined by assessing the value of a property and applying the local tax rate to this assessed value. The median home price in Alma is $58,800. Property taxes in this region are calculated based on the assessed value, which is typically a fraction of the market value, multiplied by the local tax rate. For homeowners in Alma, the median property tax bill is $627, which aligns with the 25th, 75th, and 90th percentiles, indicating a consistent tax rate across different property values. This is slightly lower than the national median property tax rate of 0.99%, making Alma relatively affordable for homeowners. The consistent tax bill reflects a stable tax environment, which can be beneficial for budgeting and financial planning. However, homeowners should still be aware of periodic reassessments, which can affect their tax liabilities. Understanding these factors can help homeowners better manage their finances and anticipate future expenses.
Average Alma Tax Bill
$627
Average Roscommon County Tax Bill
$649
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Alma, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48801 | $627 | $627 | $627 | $627 | $627 |
Source: Ownwell