Wheeler, Michigan Property Taxes
The median property tax rate in Wheeler, MI is 0.33%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Wheeler at $136,400, the typical annual property tax bill amounts to $517, well below the national median of $2,690. Property taxes in Wheeler 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 Wheeler'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 Wheeler or another part of Midland County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wheeler, 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 Wheeler Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wheeler with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wheeler 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 Wheeler, Michigan
Property taxes in Wheeler, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wheeler is 1.40%, significantly higher than both the Michigan state median of 1.31% and the U.S. national median of 0.99%. Local government entities within Wheeler set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wheeler 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 Wheeler's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in the state is 1.83% in ZIP code 48188, while the lowest median tax rate is 0.99% in ZIP code 48519. Understanding how these cities compare with Wheeler provides valuable insights into the varying tax landscape across Midland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wheeler Tax Rate
0.33%
Average Midland County Tax Rate
0.54%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wheeler, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48662 | 0.25% | 0.29% | 0.33% | 0.38% | 0.45% |
Source: Ownwell
Property Tax Assessment Values Across Wheeler, Michigan
In Wheeler, 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 Midland 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 Wheeler, 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 Wheeler is $136,400, with annual tax bills ranging from $271 at the 25th percentile to $1,421 at the 90th percentile. The highest and lowest median tax bills are both $517, occurring in zip code 48662. 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 Wheeler helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wheeler Assessed Value
$136,400
Average Midland County Assessed Value
$158,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wheeler, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48662 | $54,780 | $91,150 | $136,400 | $215,050 | $416,040 |
Source: Ownwell
Property Tax Bills Across Wheeler, Michigan
In Wheeler, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the Midland County assessor. The assessed value typically represents 50% of the market value of the property. Homeowners in Wheeler can expect a median property tax rate of 0.99%, aligning with the national median. For a home with a median price of $136,400, this translates to an approximate annual tax bill of $1,350. Factors influencing the tax bill include the property's location, improvements, and market conditions. For example, the 25th percentile tax bill in Wheeler is $271, while the 75th percentile reaches $757, and the 90th percentile can be as high as $1,421. These variations reflect differences in property values and specific neighborhood assessments within Midland County. Higher tax bills can impact homeowners by increasing the overall cost of owning a home, potentially influencing decisions on buying, selling, or investing in property improvements. Conversely, lower tax bills can make homeownership more affordable and attractive in the Wheeler area.
Average Wheeler Tax Bill
$517
Average Midland County Tax Bill
$1,273
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Wheeler, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48662 | $195 | $271 | $517 | $757 | $1,421 |
Source: Ownwell