Eben Junction, Michigan Property Taxes
The median property tax rate in Eben Junction, MI is 0.70%, considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Eben Junction, the typical annual property tax bill reaches $614, significantly below the national median of $2,690. Property taxes in Eben Junction 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 Eben Junction'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 Eben Junction 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
Eben Junction, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$613
Ownwell’s Eben Junction Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eben Junction with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eben Junction 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 Eben Junction, Michigan
Property taxes in Eben Junction, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eben Junction is 0.70%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Eben Junction set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eben Junction 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 Eben Junction's effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 49825 has the highest median property tax rate of 0.70%, while the zip code 49826 has the lowest median tax rate of 0.65%. Understanding how these areas compare with Eben Junction provides valuable insights into the varying tax landscape across Alger County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eben Junction Tax Rate
0.70%
Average Alger County Tax Rate
0.75%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eben Junction, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49825 | 0.51% | 0.58% | 0.70% | 0.77% | 0.78% |
| 49826 | 0.60% | 0.62% | 0.65% | 0.71% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Eben Junction, Michigan
In Eben Junction, 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 Alger 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 Eben Junction, 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 Eben Junction helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill is $626 in the 49825 zip code, while the lowest is $567 in the 49826 zip code.
Average Eben Junction Assessed Value
$87,600
Average Alger County Assessed Value
$94,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eben Junction, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49825 | $34,000 | $52,150 | $89,100 | $141,550 | $195,200 |
| 49826 | $65,440 | $68,800 | $74,400 | $84,300 | $90,240 |
Source: Ownwell
Property Tax Bills Across Eben Junction, Michigan
In Eben Junction, located in Alger County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. For instance, with a median home price of $87,600, the tax bill can vary significantly. The 25th percentile tax bill is around $345, while at the 75th percentile, it rises to approximately $937. Homeowners at the 90th percentile might see tax bills as high as $1,363. These calculations depend on various factors, including the property's assessed value and the local tax rate. For comparison, the highest median tax bill in the region is $626 in zip code 49825, while the lowest is $567 in zip code 49826. These property taxes are crucial for funding local services such as schools, emergency services, and infrastructure. Consequently, understanding how these taxes are determined can help homeowners better manage their finances and anticipate yearly expenses.
Average Eben Junction Tax Bill
$614
Average Alger County Tax Bill
$783
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Eben Junction, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49825 | $201 | $340 | $626 | $939 | $1,379 |
| 49826 | $408 | $468 | $567 | $591 | $605 |
Source: Ownwell