Cassopolis, Michigan Property Taxes
The median property tax rate in Cassopolis, MI 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 $168,200 in Cassopolis, the typical annual property tax bill is $594, far below the national median of $2,690. Property taxes in Cassopolis are determined based on the tax assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Cassopolis's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Cassopolis 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
Cassopolis, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$606
Ownwell’s Cassopolis Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cassopolis with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cassopolis 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 Cassopolis, Michigan
Property taxes in Cassopolis, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cassopolis is 0.36%, which is significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Cassopolis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cassopolis 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 Cassopolis's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in Michigan can be as high as 1.83%, while some areas have rates as low as 0.36%. Understanding how these cities compare with Cassopolis provides valuable insights into the varying tax landscape across Cass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cassopolis Tax Rate
0.36%
Average Cass County Tax Rate
0.39%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cassopolis, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49031 | 0.23% | 0.28% | 0.36% | 0.45% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Cassopolis, Michigan
In Cassopolis, 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 local 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 Cassopolis, 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 Cassopolis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Interestingly, the zip code with the highest and lowest median tax bill is 49031, both amounting to $594. This is significantly lower than the national median property tax rate of 0.99%, making Cassopolis an appealing location for property owners.
Average Cassopolis Assessed Value
$168,200
Average Cass County Assessed Value
$171,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cassopolis, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49031 | $56,400 | $93,800 | $168,200 | $313,000 | $652,440 |
Source: Ownwell
Property Tax Bills Across Cassopolis, Michigan
In Cassopolis, located in Cass County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For homeowners in Cassopolis, the median home price stands at $168,200. The property tax rate in this region influences the final tax bill, which can vary significantly. For instance, the 25th percentile tax bill is $304, while the 75th percentile tax bill reaches $1,158. At the higher end, the 90th percentile tax bill can go up to $2,397. Property tax bills are determined by multiplying the assessed value by the local tax rate. Various factors, such as property improvements and neighborhood developments, can impact the assessed value. Homeowners in Cassopolis might find their tax bills differing even within the same zip code, as seen with the median tax bill in zip code 49031, which is $594. These tax bills directly impact homeowners' annual expenses and can influence decisions on property investments and homeownership.
Average Cassopolis Tax Bill
$594
Average Cass County Tax Bill
$696
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Cassopolis, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49031 | $175 | $304 | $594 | $1,158 | $2,397 |
Source: Ownwell