Engadine, Michigan Property Taxes
The median property tax rate in Engadine, MI is 1.18%, higher than both the national median of 0.99% and Michigan's state median of 1.07%. With a median home value of $91,664 in Engadine, the typical annual property tax bill reaches $934, which is below the national median of $2,690. Property taxes in Engadine are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Engadine'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 Engadine 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
Engadine, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$1,082
Ownwell’s Engadine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Engadine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Engadine 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 Engadine, Michigan
Property taxes in Engadine, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Engadine is 1.18%, significantly higher than the U.S. national median of 0.99%. Local government entities within Engadine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Engadine 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 Engadine's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49827 zip code has the highest median property tax rate of 1.18%, while the same zip code also has the lowest median tax rate of 1.18%. Understanding how these cities compare with Engadine provides valuable insights into the varying tax landscape across Mackinac County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Engadine Tax Rate
1.18%
Average Mackinac County Tax Rate
0.81%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Engadine, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49827 | 0.67% | 0.73% | 1.18% | 1.65% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Engadine, Michigan
In Engadine, 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 Mackinac 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 Engadine, 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 Engadine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Engadine are both $934, found in zip code 49827.
Average Engadine Assessed Value
$91,664
Average Mackinac County Assessed Value
$123,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Engadine, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49827 | $17,618 | $50,438 | $91,664 | $138,292 | $202,469 |
Source: Ownwell
Property Tax Bills Across Engadine, Michigan
Property tax bills in Engadine, MI, are calculated based on the assessed value of a property, which is typically a percentage of its market value. In Mackinac County, the median home price is $91,664. The local property tax rate is applied to this assessed value to determine the annual tax bill. Various factors, such as property size, location, and any improvements or renovations, can influence the assessed value. For homeowners in Engadine, the tax bills can vary widely. The 25th percentile tax bill is $516, indicating that a quarter of homeowners pay less than this amount annually. On the higher end, the 75th percentile tax bill is $1,607, while the top 10% of tax bills reach $2,467. These figures highlight the range of property tax obligations within the area. Compared to the national median property tax rate of 0.99%, Engadine's property taxes reflect the local market conditions and assessment practices, significantly impacting homeowners' annual financial responsibilities.
Average Engadine Tax Bill
$934
Average Mackinac County Tax Bill
$942
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Engadine, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49827 | $278 | $516 | $934 | $1,607 | $2,467 |
Source: Ownwell