Ross, Michigan Property Taxes
The median property tax rate in Ross, Michigan is 0.36%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $154,800 in Ross, the typical annual property tax bill amounts to $570, well below the national median of $2,690. Property taxes in Ross are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ross'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 Ross 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
Ross, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$557
Ownwell’s Ross Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ross with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ross 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 Ross, Michigan
Property taxes in Ross, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ross is 1.30%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Ross set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ross 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 Ross's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49061 has the highest median property tax rate of 1.54%, while zip code 49061 has the lowest median tax rate of 0.36%. Understanding how these cities compare with Ross provides valuable insights into the varying tax landscape across Schoolcraft County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ross Tax Rate
0.36%
Average Schoolcraft County Tax Rate
0.45%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ross, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Ross, Michigan
In Ross, 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 Schoolcraft 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 Ross, 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. For instance, residents in zip codes with the highest tax bills, like those paying $1,044, and those in areas with the lowest tax bills, paying around $434, can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ross Assessed Value
$154,800
Average Schoolcraft County Assessed Value
$86,700
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ross, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Ross, Michigan
In Ross, Schoolcraft County, MI, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is determined by the local assessor and typically represents 50% of the property's market value. For example, with a median home price of $154,800, the assessed value would be approximately $77,400. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property location, improvements, and any applicable exemptions. For homeowners in Ross, the 25th percentile tax bill is around $434, while the 75th percentile tax bill reaches $695, and the 90th percentile tax bill can be as high as $1,044. Compared to the national median property tax rate of 0.99%, these figures offer a glimpse into how property taxes can vary based on local assessments and rates. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Ross Tax Bill
$570
Average Schoolcraft County Tax Bill
$504
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Ross, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell