Brockway, Michigan Property Taxes
The median property tax rate in Brockway, MI is 0.79%, which is noticeably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Brockway at $96,900, the typical annual property tax bill amounts to $767, significantly below the national median of $2,690. Property taxes in Brockway are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Brockway'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 Brockway or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brockway, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$766
Ownwell’s Brockway Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brockway with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brockway 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 Brockway, Michigan
Property taxes in Brockway, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brockway is 0.79%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Brockway set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brockway 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 Brockway's effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 48097 has both the highest and lowest median property tax rate of 0.79%. Understanding how these cities compare with Brockway provides valuable insights into the varying tax landscape across Sanilac County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brockway Tax Rate
0.79%
Average Sanilac County Tax Rate
1.15%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brockway, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48097 | 0.78% | 0.79% | 0.79% | 0.79% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Brockway, Michigan
In Brockway, 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 Sanilac 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 Brockway, 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 Brockway helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 48097, with a median bill of $767.
Average Brockway Assessed Value
$96,900
Average Sanilac County Assessed Value
$107,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brockway, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48097 | $78,740 | $85,550 | $96,900 | $108,250 | $115,060 |
Source: Ownwell
Property Tax Bills Across Brockway, Michigan
In Brockway, MI, property tax bills are calculated based on the assessed value of the home, which is determined by the local assessor. The assessed value typically reflects a percentage of the market value of the property. For Brockway, the median home price is $96,900. Homeowners can expect their tax bills to fall within a range, with the 25th percentile at $674 and the 75th percentile at $860. The 90th percentile tax bill reaches up to $916, indicating that higher-valued properties incur higher taxes. Several factors influence the tax bill, including property size, location, and any improvements made to the home. Compared to the national median property tax rate of 0.99%, Brockway's tax bills are relatively moderate. For instance, in the zip code 48097, the median tax bill is consistently $767. This systematic approach ensures that property taxes are fairly distributed, impacting homeowners by funding local services such as schools, infrastructure, and emergency services.
Average Brockway Tax Bill
$767
Average Sanilac County Tax Bill
$1,234
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Brockway, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48097 | $618 | $674 | $767 | $860 | $916 |
Source: Ownwell