Wilson, Michigan Property Taxes
The median property tax rate in Wilson, 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 Wilson, the typical annual property tax bill is $302, far below the national median of $2,690. Property taxes in Wilson 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 Wilson'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 Wilson or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wilson, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.31%
Estimate Property Tax Bill
$324
Ownwell’s Wilson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wilson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wilson 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 Wilson, Michigan
Property taxes in Wilson, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wilson is 0.96%, slightly below the Michigan state median of 1.54% but close to the U.S. national median of 0.99%. Local government entities within Wilson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wilson 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 Wilson's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49858 zip code has the highest median property tax rate of 1.68%, while the 49887 zip code has the lowest median tax rate of 0.31%. Understanding how these areas compare with Wilson 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 Wilson 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 Wilson, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49896 | 0.16% | 0.22% | 0.31% | 0.38% | 0.44% |
Source: Ownwell
Property Tax Assessment Values Across Wilson, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wilson, MI. 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 Wilson, 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. The median home price in Wilson is $104,586. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The highest median tax bill is $302.00 in the 49896 zip code, while the lowest median tax bill is also $302.00 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wilson Assessed Value
$104,586
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 Wilson, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49896 | $38,704 | $63,455 | $104,586 | $148,868 | $195,040 |
Source: Ownwell
Property Tax Bills Across Wilson, Michigan
In Wilson, 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 example, the median home price in Wilson is $104,586. Depending on various factors such as location and property characteristics, homeowners can expect their tax bills to vary. The 25th percentile tax bill is $169, while the 75th percentile tax bill reaches $448, and the 90th percentile tax bill is $636. These figures indicate that property taxes in Wilson can significantly impact homeowners' finances. Compared to the national median property tax rate of 0.99%, the rates in Wilson reflect a localized approach to property taxation, ensuring that the tax burden is distributed based on the specific assessed values within the community. This method helps maintain a fair and balanced taxation system, directly affecting homeowners' annual financial planning.
Average Wilson Tax Bill
$302
Average Menominee County Tax Bill
$274
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Wilson, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49896 | $103 | $169 | $302 | $448 | $636 |
Source: Ownwell