Prudenville, Michigan Property Taxes
The median property tax rate in Prudenville, MI is 0.81%, which is lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Prudenville at $121,800, the typical annual property tax bill amounts to $712, significantly less than the national median of $2,690. Property taxes in Prudenville are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Prudenville'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 Prudenville or another part of Roscommon County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Prudenville, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$987
Ownwell’s Prudenville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Prudenville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Prudenville 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 Prudenville, Michigan
Property taxes in Prudenville, Michigan, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Prudenville is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Prudenville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Prudenville 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 Prudenville's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 48651 has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these areas compare with Prudenville provides valuable insights into the varying tax landscape across Roscommon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Prudenville Tax Rate
0.81%
Average Roscommon County Tax Rate
0.50%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Prudenville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48651 | 0.32% | 0.36% | 0.81% | 1.02% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Prudenville, Michigan
In Prudenville, 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 Roscommon 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 Prudenville, 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 Prudenville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Prudenville are both $712.00, found in the zip code 48651.
Average Prudenville Assessed Value
$121,800
Average Roscommon County Assessed Value
$114,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Prudenville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48651 | $37,200 | $65,000 | $121,800 | $205,400 | $301,840 |
Source: Ownwell
Property Tax Bills Across Prudenville, Michigan
In Prudenville, located in Roscommon County, MI, property tax bills are calculated based on the assessed value of a home. The local assessor determines this value, which generally represents 50% of the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition. Homeowners in Prudenville can expect a median home price of approximately $121,800, with tax bills varying significantly. For instance, the 25th percentile tax bill is around $419, while the 75th percentile reaches $1,354, and the 90th percentile can be as high as $2,469. These property taxes fund essential public services such as schools, roads, and emergency services, directly impacting the quality of life in the community. Compared to the national median property tax rate of 0.99%, Prudenville offers a range of tax bills that reflect the diverse property values within the area.
Average Prudenville Tax Bill
$712
Average Roscommon County Tax Bill
$649
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Prudenville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48651 | $236 | $419 | $712 | $1,354 | $2,469 |
Source: Ownwell