Alabaster, Michigan Property Taxes
The median property tax rate in Alabaster, MI is 1.69%, significantly higher than both the national median of 0.99% and Michigan's state median of 1.07%. With a median home value of $59,300 in Alabaster, the typical annual property tax bill amounts to $1,167, surpassing the national median of $2,690. Property taxes in Alabaster are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Alabaster'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 Alabaster or another part of Iosco County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alabaster, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.69%
Estimate Property Tax Bill
$1,002
Ownwell’s Alabaster Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alabaster with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alabaster 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 Alabaster, Michigan
Property taxes in Alabaster, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alabaster is 1.69%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Alabaster set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alabaster 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 Alabaster's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48763 zip code has both the highest and lowest median property tax rate of 1.69%. Understanding how these cities compare with Alabaster provides valuable insights into the varying tax landscape across Iosco County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alabaster Tax Rate
1.69%
Average Iosco County Tax Rate
2.40%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alabaster, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48763 | 1.33% | 1.38% | 1.69% | 2.32% | 3.06% |
Source: Ownwell
Property Tax Assessment Values Across Alabaster, Michigan
In Alabaster, Michigan, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Iosco 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 Alabaster, 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 Alabaster helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Alabaster is $59,300, with tax bills ranging from $975 at the 25th percentile to $1,532 at the 90th percentile. The zip code with the highest median tax bill is 48763, with a tax bill of $1,167. Conversely, the zip code with the lowest median tax bill is also 48763, with the same tax bill of $1,167.
Average Alabaster Assessed Value
$59,300
Average Iosco County Assessed Value
$51,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alabaster, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48763 | $38,060 | $45,800 | $59,300 | $75,300 | $88,080 |
Source: Ownwell
Property Tax Bills Across Alabaster, Michigan
In Alabaster, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. The assessed value is typically a percentage of the property's market value. Homeowners in Iosco County, where Alabaster is located, see their tax bills influenced by several factors, including the median home price of $59,300. For instance, the tax bill for the 25th percentile is around $975, while it rises to $1,375 for the 75th percentile, and reaches $1,532 for the 90th percentile. Compared to the national median property tax rate of 0.99%, Alabaster's tax rates can represent a significant financial consideration for homeowners. The highest and lowest median tax bills in the area are both $1,167, indicating a relatively uniform tax rate within the zip code 48763. These property tax bills fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents.
Average Alabaster Tax Bill
$1,167
Average Iosco County Tax Bill
$1,150
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Alabaster, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48763 | $768 | $975 | $1,167 | $1,375 | $1,532 |
Source: Ownwell