North Star, Michigan Property Taxes
The median property tax rate in North Star, MI is 0.42%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in North Star, the typical annual property tax bill is $373, well below the national median of $2,690. Property taxes in North Star are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding North Star'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 North Star 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
North Star, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$339
Ownwell’s North Star Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Star with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Star 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 North Star, Michigan
Property taxes in North Star, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Star is 0.42%, lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within North Star set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Star 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 North Star's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48862 zip code has both the highest and lowest median property tax rate of 0.42%. Understanding how these cities compare with North Star provides valuable insights into the varying tax landscape across Gratiot County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average North Star Tax Rate
0.42%
Average Gratiot County Tax Rate
0.33%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Star, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48862 | 0.18% | 0.26% | 0.42% | 0.82% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across North Star, Michigan
In North Star, 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 Gratiot 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 North Star, 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. For example, the median home price in the area is $80,600, with tax bills ranging from $207 at the 25th percentile to $915 at the 90th percentile. 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 North Star helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average North Star Assessed Value
$80,600
Average Gratiot County Assessed Value
$112,300
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across North Star, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48862 | $18,800 | $48,000 | $80,600 | $104,400 | $120,960 |
Source: Ownwell
Property Tax Bills Across North Star, Michigan
In North Star, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For example, with a median home price of $80,600, homeowners in North Star can expect varying tax bills. At the 25th percentile, the tax bill is around $207, while at the 75th percentile, it rises to approximately $735. The highest tax bills, which fall in the 90th percentile, can reach up to $915. These property taxes fund essential local services such as schools, public safety, and infrastructure. Homeowners should be aware that their tax bills can fluctuate based on changes in the assessed value and the local tax rate. Comparatively, North Star's property tax rates are competitive, providing a balanced approach to funding community services without excessively burdening homeowners.
Average North Star Tax Bill
$373
Average Gratiot County Tax Bill
$380
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across North Star, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48862 | $178 | $207 | $373 | $735 | $915 |
Source: Ownwell