Arnold, Michigan Property Taxes
The median property tax rate in Arnold, Michigan is 0.34%, significantly lower than both the national median of 0.99% and Michigan's state median of 1.07%. With a median home value of $79,350 in Arnold, the typical annual property tax bill amounts to $245, well below the national median of $2,690. Property taxes in Arnold are based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Arnold'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 Arnold or another part of Marquette County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Arnold, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$270
Ownwell’s Arnold Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Arnold with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Arnold 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 Arnold, Michigan
Property taxes in Arnold, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Arnold is 0.34%, which is significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Arnold set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arnold 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 Arnold's effective property tax rate to other regions in Michigan and the national median. Understanding how Arnold's tax rate compares with other regions provides valuable insights into the varying tax landscape across Marquette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arnold Tax Rate
0.34%
Average Marquette County Tax Rate
0.46%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arnold, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49819 | 0.21% | 0.27% | 0.34% | 0.43% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Arnold, Michigan
In Arnold, 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 Marquette 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 Arnold, 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 Arnold helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both occur in the 49819 zip code, with a value of $245.
Average Arnold Assessed Value
$79,350
Average Marquette County Assessed Value
$155,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arnold, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49819 | $38,720 | $50,850 | $79,350 | $111,250 | $167,370 |
Source: Ownwell
Property Tax Bills Across Arnold, Michigan
In Arnold, located in Marquette 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 Arnold is $79,350. Property tax rates in Arnold are influenced by local government budgets and the need to fund public services such as schools, infrastructure, and emergency services. Homeowners in Arnold can expect their tax bills to vary significantly. For example, the 25th percentile tax bill is around $151, while the 75th percentile tax bill rises to $458, and the 90th percentile tax bill can reach up to $667. Comparatively, the national median property tax rate is 0.99%, making Arnold's tax bills relatively moderate. For homeowners, understanding these factors is crucial, as property taxes can significantly impact annual housing costs. Accurate assessments and awareness of local tax rates help residents plan their finances more effectively and ensure they are not overpaying on their property taxes.
Average Arnold Tax Bill
$245
Average Marquette County Tax Bill
$725
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Arnold, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49819 | $80 | $151 | $245 | $458 | $667 |
Source: Ownwell