South Range, Michigan Property Taxes
The median property tax rate in South Range, MI, is 1.66%, significantly higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in South Range at $94,010, the typical annual property tax bill reaches $1,434, which is below the national median of $2,690. Property taxes in South Range are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding South Range'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 South Range or another part of Houghton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
South Range, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.66%
Estimate Property Tax Bill
$1,561
Ownwell’s South Range Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Range with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Range 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 South Range, Michigan
Property taxes in South Range, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Range is 1.66%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within South Range set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Range 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 South Range's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49963 zip code has the highest median property tax rate of 1.66%, while the same zip code also has the lowest median tax rate of 1.66%. Understanding how these cities compare with South Range provides valuable insights into the varying tax landscape across Houghton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average South Range Tax Rate
1.66%
Average Houghton County Tax Rate
0.94%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Range, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49963 | 1.01% | 1.25% | 1.66% | 1.79% | 2.39% |
Source: Ownwell
Property Tax Assessment Values Across South Range, Michigan
In South Range, 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 Houghton 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 South Range, 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. The median home price in South Range is $94,010, with tax bills ranging from $1,017 at the 25th percentile to $3,136 at the 90th percentile. The highest and lowest median tax bills are both $1,434 in the 49963 zip code. By understanding 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 South Range helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average South Range Assessed Value
$94,010
Average Houghton County Assessed Value
$95,531
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across South Range, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49963 | $45,156 | $68,507 | $94,010 | $133,429 | $179,951 |
Source: Ownwell
Property Tax Bills Across South Range, Michigan
In South Range, MI, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The median home price in South Range is $94,010. Property values are assessed based on various factors, including market conditions, property characteristics, and recent sales of similar properties in the area. Homeowners in South Range experience a range of property tax bills, with the 25th percentile paying around $1,017 annually, while those in the 75th percentile pay approximately $2,072. At the 90th percentile, property tax bills can reach up to $3,136. Compared to the national median property tax rate of 0.99%, South Range's tax bills reflect the local economic conditions and property values. These property taxes fund essential community services such as schools, public safety, and infrastructure. For homeowners, understanding how property taxes are calculated can help in budgeting and financial planning, ensuring they are prepared for these annual expenses.
Average South Range Tax Bill
$1,434
Average Houghton County Tax Bill
$879
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across South Range, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49963 | $713 | $1,017 | $1,434 | $2,072 | $3,136 |
Source: Ownwell