Spalding, Michigan Property Taxes
The median property tax rate in Spalding, MI is 0.31%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Spalding, the typical annual property tax bill reaches $202, which is well below the national median of $2,690. Property taxes in Spalding are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Spalding'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 Spalding 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
Spalding, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.31%
Estimate Property Tax Bill
$228
Ownwell’s Spalding Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Spalding with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spalding 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 Spalding, Michigan
Property taxes in Spalding, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spalding is 1.83%, significantly higher than the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Spalding set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spalding 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 Spalding's effective property tax rate to other counties in Michigan and the national median. For comparison, zip code 49893 has the highest median property tax rate of 1.83%, while zip code 49874 has the lowest median tax rate of 1.52%. Understanding how these cities compare with Spalding 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 Spalding Tax Rate
0.31%
Average Menominee County Tax Rate
0.31%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spalding, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49886 | 0.13% | 0.23% | 0.31% | 0.39% | 0.44% |
Source: Ownwell
Property Tax Assessment Values Across Spalding, Michigan
In Spalding, 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 Spalding, 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 Spalding helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Spalding is $202.00, with zip code 49886 having both the highest and lowest median tax bills.
Average Spalding Assessed Value
$73,600
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 Spalding, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49886 | $20,520 | $49,300 | $73,600 | $106,500 | $148,420 |
Source: Ownwell
Property Tax Bills Across Spalding, Michigan
In Spalding, Menominee 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 local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $73,600, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill is around $111, while the 75th percentile reaches $329, and the 90th percentile can go up to $502. These figures highlight the range of property tax burdens that homeowners in Spalding might face. Compared to the national median property tax rate of 0.99%, the tax rates in this area can be relatively moderate, but they still represent a significant expense for homeowners. Factors such as property improvements, local government budgets, and school funding needs can influence these rates, impacting the overall financial burden on property owners.
Average Spalding Tax Bill
$202
Average Menominee County Tax Bill
$274
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Spalding, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49886 | $60 | $111 | $202 | $329 | $502 |
Source: Ownwell