Peck, Michigan Property Taxes
The median property tax rate in Peck, Michigan is 1.05%, slightly higher than the national median of 0.99% but lower than Michigan's state median of 1.07%. With the median home value in Peck, the typical annual property tax bill reaches $995, which is below the national median of $2,690. Property taxes in Peck are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Peck'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 Peck or another part of Sanilac County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Peck, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$1,044
Ownwell’s Peck Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Peck with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Peck 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 Peck, Michigan
Property taxes in Peck, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Peck is 1.05%, higher than both the Michigan state median of 1.31% and the U.S. national median of 0.99%. Local government entities within Peck set these rates annually, and they can vary significantly across different neighborhoods. Each year, Peck 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 Peck's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48466 zip code has the highest median property tax rate of 1.05%, while the 48466 zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Peck provides valuable insights into the varying tax landscape across Sanilac County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Peck Tax Rate
1.05%
Average Sanilac County Tax Rate
1.15%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Peck, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48466 | 0.70% | 0.77% | 1.05% | 1.25% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Peck, Michigan
In Peck, 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 Sanilac 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 Peck, 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 Peck helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest and lowest median tax bill is 48466, with a median tax bill of $995.
Average Peck Assessed Value
$99,400
Average Sanilac County Assessed Value
$107,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Peck, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48466 | $44,500 | $67,025 | $99,400 | $138,200 | $185,270 |
Source: Ownwell
Property Tax Bills Across Peck, Michigan
In Peck, Sanilac 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 median home price in Peck is $99,400. Local tax authorities use this assessed value to determine the annual tax bill. For instance, homeowners in the 25th percentile can expect a tax bill around $734, while those in the 75th percentile may see bills closer to $1,371. The highest tax bills, found in the 90th percentile, can reach up to $1,776. Several factors influence these amounts, including local tax rates, property assessments, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Peck's tax rates can vary significantly. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting homeowners by determining the affordability and quality of living in the area. Understanding these elements helps homeowners anticipate their financial obligations and plan accordingly.
Average Peck Tax Bill
$995
Average Sanilac County Tax Bill
$1,234
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Peck, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48466 | $490 | $734 | $995 | $1,371 | $1,776 |
Source: Ownwell