Ingalls, Michigan Property Taxes
The median property tax rate in Ingalls, MI is 0.32%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Ingalls at $81,600, the typical annual property tax bill amounts to $245, which is well below the national median of $2,690. Property taxes in Ingalls are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Ingalls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Ingalls or another part of Menominee County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ingalls, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.32%
Estimate Property Tax Bill
$261
Ownwell’s Ingalls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ingalls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ingalls 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 Ingalls, Michigan
Property taxes in Ingalls, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ingalls is 0.32%, which is significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Ingalls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ingalls 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 Ingalls' effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in the region is significantly above Ingalls' rate, while the lowest median tax rate is also higher than Ingalls' 0.32%. Understanding how these cities compare with Ingalls provides valuable insights into the varying tax landscape across Menominee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ingalls Tax Rate
0.32%
Average Menominee County Tax Rate
0.31%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ingalls, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49848 | 0.18% | 0.26% | 0.32% | 0.39% | 0.42% |
Source: Ownwell
Property Tax Assessment Values Across Ingalls, Michigan
In Ingalls, 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 Menominee 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 Ingalls, 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 Ingalls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Ingalls is $81,600, with tax bills ranging from $152 at the 25th percentile to $513 at the 90th percentile. The highest and lowest median tax bills, both $245, are found in the 49848 zip code.
Average Ingalls Assessed Value
$81,600
Average Menominee County Assessed Value
$92,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ingalls, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49848 | $28,920 | $50,800 | $81,600 | $124,800 | $173,320 |
Source: Ownwell
Property Tax Bills Across Ingalls, Michigan
In Ingalls, located in Menominee County, MI, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the local assessor and is typically a percentage of the market value. For instance, with a median home price of $81,600, the property taxes can vary widely. Homeowners in Ingalls can expect tax bills ranging from the 25th percentile at $152 to the 75th percentile at $370, with the 90th percentile reaching up to $513. Several factors influence the tax bill, including the home's assessed value, local tax rates, and any applicable exemptions. The median property tax rate in Menominee County is relatively lower compared to the national median of 0.99%. This lower rate can ease the financial burden on homeowners, making Ingalls an attractive option for those looking to manage their property expenses effectively. Understanding these factors can help homeowners anticipate their tax obligations and plan accordingly.
Average Ingalls Tax Bill
$245
Average Menominee County Tax Bill
$274
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Ingalls, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49848 | $68 | $152 | $245 | $370 | $513 |
Source: Ownwell