Gould City, Michigan Property Taxes
The median property tax rate in Gould City, MI is 0.78%, notably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $97,000 in Gould City, the typical annual property tax bill amounts to $598, significantly below the national median of $2,690. Property taxes in Gould City are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Gould City'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 Gould City or another part of Mackinac County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gould City, Michigan Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$2,140
Ownwell’s Gould City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gould City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gould City 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 Gould City, Michigan
Property taxes in Gould City, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gould City is 0.78%, lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Gould City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gould City 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 Gould City's effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 49838 has both the highest and lowest median property tax rate of 0.78%. Understanding how these cities compare with Gould City 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 Gould City Tax Rate
0.78%
Average Mackinac County Tax Rate
0.81%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gould City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49838 | 0.32% | 0.37% | 0.78% | 1.08% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Gould City, Michigan
In Gould City, 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. 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 Gould City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Gould City, the median home price is $97,000, with the 25th percentile tax bill at $323 and the 75th percentile tax bill at $1,051. Interestingly, both the highest and lowest median tax bills are found in the same zip code, 49838, at $598.
Average Gould City Assessed Value
$97,000
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 Gould City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49838 | $27,000 | $52,400 | $97,000 | $154,200 | $230,080 |
Source: Ownwell
Property Tax Bills Across Gould City, Michigan
In Gould City, located in Mackinac County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Gould City is $97,000. Homeowners can expect a tax bill that varies significantly depending on their property's assessed value and the tax rate applied. For instance, the 25th percentile tax bill is $323, while the 75th percentile tax bill is $1,051, and the 90th percentile tax bill reaches $1,723. These figures indicate that property taxes can vary widely within the community, influenced by factors such as property improvements, location, and market conditions. The highest and lowest median tax bills in Gould City are both $598, reflecting some consistency in median tax values. Compared to the national median property tax rate of 0.99%, homeowners in Gould City may find their tax rates to be relatively favorable, potentially easing the financial burden associated with homeownership.
Average Gould City Tax Bill
$598
Average Mackinac County Tax Bill
$942
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Gould City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49838 | $197 | $323 | $598 | $1,051 | $1,723 |
Source: Ownwell