Yale, Michigan Property Taxes
The median property tax rate in Yale, MI is 0.87%, which is lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Yale at $124,500, the typical annual property tax bill reaches $1,087, falling below the national median of $2,690. Property taxes in Yale are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Yale'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 Yale or another part of St. Clair County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Yale, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,083
Ownwell’s Yale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yale 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 Yale, Michigan
Property taxes in Yale, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yale is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Yale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yale 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 Yale's effective property tax rate to other counties in Michigan and the national median. For comparison, the ZIP code 48097 has the highest median property tax rate of 0.87%, while the lowest median tax rate is also 0.87% in the same ZIP code. Understanding how these cities compare with Yale provides valuable insights into the varying tax landscape across St. Clair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Yale Tax Rate
0.87%
Average St. Clair County Tax Rate
0.78%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48097 | 0.38% | 0.76% | 0.87% | 1.13% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Yale, Michigan
In Yale, 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 St. Clair 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 Yale, 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 Yale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Yale is $124,500, with the 25th percentile tax bill at $746 and the 75th percentile at $1,542. The highest and lowest median tax bills are both $1,087 in the 48097 zip code.
Average Yale Assessed Value
$124,500
Average St. Clair County Assessed Value
$181,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Yale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48097 | $14,600 | $85,950 | $124,500 | $167,450 | $227,700 |
Source: Ownwell
Property Tax Bills Across Yale, Michigan
Property tax bills in Yale, located in St. Clair County, Michigan, are calculated based on the assessed value of a property, which is typically half of the market value. For example, with a median home price of $124,500, the assessed value would be approximately $62,250. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions. Tax bills can vary significantly; in Yale, they range from $746 at the 25th percentile to $2,079 at the 90th percentile. The median tax bill stands at $1,087, which is slightly above the national median property tax rate of 0.99%. Homeowners in Yale should be aware of these variations, as higher tax bills can impact overall housing affordability. Understanding how these taxes are calculated can help homeowners budget more effectively and potentially seek out exemptions or appeals to reduce their tax burden.
Average Yale Tax Bill
$1,087
Average St. Clair County Tax Bill
$1,504
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Yale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48097 | $448 | $746 | $1,087 | $1,542 | $2,079 |
Source: Ownwell