Elmira, Michigan Property Taxes
The median property tax rate in Elmira, MI is 0.35%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Elmira at $137,000, the typical annual property tax bill is around $512, well below the national median of $2,690. Property taxes in Elmira are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Elmira'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 Elmira or another part of Antrim County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Elmira, Michigan Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$2,140
Ownwell’s Elmira Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elmira with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elmira 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 Elmira, Michigan
Property taxes in Elmira, Michigan, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Elmira is 1.09%, which is notably higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Elmira set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elmira 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 Elmira's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in the region is 1.83%, while the lowest median tax rate is 0.35%. Understanding how these cities compare with Elmira provides valuable insights into the varying tax landscape across Antrim County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elmira Tax Rate
0.35%
Average Antrim County Tax Rate
0.72%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elmira, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49730 | 0.25% | 0.29% | 0.35% | 0.48% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Elmira, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Elmira, 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 Antrim 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 Elmira, 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 zip code 49730 has the highest median tax bill at $512. By being aware of these valuation processes in Elmira, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Elmira Assessed Value
$137,000
Average Antrim County Assessed Value
$211,000
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elmira, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49730 | $43,500 | $90,000 | $137,000 | $186,000 | $243,200 |
Source: Ownwell
Property Tax Bills Across Elmira, Michigan
In Elmira, located in Antrim County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $137,000, homeowners can expect varying tax bills. The 25th percentile tax bill is around $307, while the 75th percentile reaches up to $800. At the higher end, the 90th percentile tax bill can be as much as $1,225. Several factors influence these tax bills, including changes in property values, local government budgets, and specific tax rates set by local authorities. These tax bills can significantly impact homeowners, affecting their overall cost of living and financial planning. Comparatively, the median property tax rate in Elmira is lower than the national median of 0.99%, making it relatively more affordable for residents. Understanding these factors can help homeowners better anticipate their property tax obligations.
Average Elmira Tax Bill
$512
Average Antrim County Tax Bill
$1,488
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Elmira, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49730 | $143 | $307 | $512 | $800 | $1,225 |
Source: Ownwell