Cass City, Michigan Property Taxes
The median property tax rate in Cass City, MI is 0.50%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Cass City at $112,600, the typical annual property tax bill is $711, well below the national median of $2,690. Property taxes in Cass 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 Cass 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 Cass City 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
Cass City, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$563
Ownwell’s Cass City Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Cass City. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Cass City to provide an accurate estimate of your property tax bill. This valuable resource helps you understand your potential tax liabilities and make informed financial decisions. For those interested in more granular trends, detailed neighborhood-level information is available below. Your property’s assessed value is determined by the county for tax purposes and includes any applicable exemptions, ensuring you get a precise estimate.
Property Tax Rates Across Cass City, Michigan
Property taxes in Cass 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 Cass City is 1.28%, higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Cass City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cass 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 Cass City's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48726 zip code has the highest median property tax rate of 1.28%, while the same 48726 zip code also has the lowest median tax rate of 1.28%. Understanding how these cities compare with Cass City provides valuable insights into the varying tax landscape across Tuscola County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cass City Tax Rate
0.50%
Average Tuscola County Tax Rate
0.36%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cass City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48726 | 0.31% | 0.36% | 0.50% | 0.92% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Cass City, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cass 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 Tuscola 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 Cass 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. The median home price in Cass City is $112,600, with tax bills ranging from $438 at the 25th percentile to $1,538 at the 90th percentile. The zip code 48726 has the highest and lowest median tax bill at $711. Being aware of these valuation processes in Cass City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cass City Assessed Value
$112,600
Average Tuscola County Assessed Value
$128,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cass City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48726 | $54,800 | $80,000 | $112,600 | $167,600 | $228,800 |
Source: Ownwell
Property Tax Bills Across Cass City, Michigan
In Cass City, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is typically a percentage of the market value, and this percentage can vary. For instance, if a home has a median market value of $112,600, the assessed value will be a fraction of this amount. The property tax rate is then applied to the assessed value to determine the annual tax bill. Several factors influence the tax bill, including property location, local tax rates, and any applicable exemptions. In Cass City, the median property tax bill is $711, significantly lower than the national median property tax rate of 0.99%. Homeowners in the 25th percentile pay around $438, while those in the 75th percentile pay approximately $1060. The highest tax bills, in the 90th percentile, reach up to $1538. These variations can impact homeowners' financial planning and overall cost of living, making it essential to understand how property taxes are calculated and managed.
Average Cass City Tax Bill
$711
Average Tuscola County Tax Bill
$531
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Cass City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48726 | $238 | $438 | $711 | $1,060 | $1,538 |
Source: Ownwell