Moran, Michigan Property Taxes
The median property tax rate in Moran, MI is 0.69%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value in Moran of $120,600, the typical annual property tax bill is $788, far below the national median of $2,690. Property taxes in Moran are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Moran'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 Moran 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
Moran, 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 Moran Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moran with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moran 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 Moran, Michigan
Property taxes in Moran, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moran is 0.69%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Moran set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moran 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 Moran's effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 49760 has both the highest and lowest median property tax rate of 0.69%, illustrating a uniformity in tax rates within the region. Understanding how these rates compare with Moran 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 Moran Tax Rate
0.69%
Average Mackinac County Tax Rate
0.81%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moran, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49760 | 0.32% | 0.42% | 0.69% | 1.01% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Moran, Michigan
Understanding the difference between "market value" and "assessed value" is essential for comprehending property taxes in Moran, Michigan. 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 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 Moran, 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 Moran helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median tax bill in the zip code 49760 is $788.
Average Moran Assessed Value
$120,600
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 Moran, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49760 | $40,600 | $70,950 | $120,600 | $190,200 | $317,300 |
Source: Ownwell
Property Tax Bills Across Moran, Michigan
In Moran, located in Mackinac County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The median home price in Moran is $120,600. Local tax rates are then applied to this assessed value to determine the annual property tax bill. Several factors influence this calculation, including property size, location, and any applicable exemptions or deductions. For homeowners in Moran, property tax bills can vary significantly. At the 25th percentile, the tax bill is $424, while at the 75th percentile, it rises to $1339. For those at the 90th percentile, the tax bill can reach up to $2263. These variations highlight the impact of property value and assessment practices on the overall tax burden. Compared to the national median property tax rate of 0.99%, Moran's property taxes offer a range that can be either more affordable or more burdensome, depending on individual property assessments and valuations.
Average Moran Tax Bill
$788
Average Mackinac County Tax Bill
$942
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Moran, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49760 | $226 | $424 | $788 | $1,339 | $2,263 |
Source: Ownwell