Hessel, Michigan Property Taxes
The median property tax rate in Hessel, MI is 0.75%, notably lower than both the national median of 0.99% and Michigan's state median of 1.07%. With the median home value in Hessel at $130,400, the typical annual property tax bill amounts to $878, significantly below the national median of $2,690. Property taxes in Hessel are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hessel'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 Hessel 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
Hessel, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$978
Ownwell’s Hessel Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hessel with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hessel 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 Hessel, Michigan
Property taxes in Hessel, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hessel is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Hessel set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hessel 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 Hessel's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49745 has the highest median property tax rate of 0.75%, while it also has the lowest median tax rate of 0.75%. Understanding how these cities compare with Hessel 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 Hessel Tax Rate
0.75%
Average Mackinac County Tax Rate
0.81%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hessel, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49745 | 0.33% | 0.42% | 0.75% | 1.19% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Hessel, Michigan
In Hessel, 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 Hessel, 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 Hessel helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Hessel are both $878, specifically in the 49745 zip code.
Average Hessel Assessed Value
$130,400
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 Hessel, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49745 | $42,760 | $74,600 | $130,400 | $206,000 | $315,760 |
Source: Ownwell
Property Tax Bills Across Hessel, Michigan
In Hessel, located in Mackinac County, MI, property tax bills are calculated based on the assessed value of a property, which is typically determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $130,400, homeowners can expect varying tax bills depending on their property's assessed value and specific circumstances. Factors that influence the tax bill include the property's location, improvements, and any applicable exemptions. In Hessel, tax bills can range significantly, with the 25th percentile at $482 and the 75th percentile at $1,634. The 90th percentile sees tax bills as high as $3,285, indicating a wide range of property values and corresponding tax obligations. For homeowners, understanding these factors is crucial, as property taxes directly impact annual financial planning. Compared to the national median property tax rate of 0.99%, Hessel's property tax rates can be seen as relatively moderate, providing a balanced fiscal environment for residents.
Average Hessel Tax Bill
$878
Average Mackinac County Tax Bill
$942
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Hessel, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49745 | $244 | $482 | $878 | $1,634 | $3,285 |
Source: Ownwell