Yale, Michigan Property Taxes
The median property tax rate in Yale, MI is 0.84%, which is notably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $166,500 in Yale, the typical annual property tax bill amounts to $1,318, significantly less than the national median of $2,690. Property taxes in Yale are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Yale'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 Yale or another part of Sanilac County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Yale, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,399
Ownwell’s Yale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yale 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 Yale, Michigan
Property taxes in Yale, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yale is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Yale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yale 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 Yale's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48097 zip code has the highest median property tax rate of 0.84%, while the 48097 zip code also has the lowest median tax rate of 0.84%. Understanding how these cities compare with Yale 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 Yale Tax Rate
0.84%
Average Sanilac County Tax Rate
1.15%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48097 | 0.56% | 0.71% | 0.84% | 0.98% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Yale, Michigan
In Yale, 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 Yale, 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 Yale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Yale are both $1,318, found in zip code 48097.
Average Yale Assessed Value
$166,500
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 Yale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48097 | $62,320 | $114,950 | $166,500 | $236,800 | $284,420 |
Source: Ownwell
Property Tax Bills Across Yale, Michigan
In Yale, located in Sanilac County, MI, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Yale, the median home price stands at $166,500. The property tax rate in this region can significantly impact the tax bill, with the 25th percentile tax bill at $918 and the 75th percentile at $1909. For those at the 90th percentile, the tax bill can go up to $2523. Compared to the national median property tax rate of 0.99%, the local tax rate in Yale can vary, affecting homeowners differently based on their property's assessed value. This variability in tax bills underscores the importance of understanding how local assessments and tax rates influence overall property tax obligations.
Average Yale Tax Bill
$1,318
Average Sanilac County Tax Bill
$1,234
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Yale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48097 | $442 | $918 | $1,318 | $1,909 | $2,523 |
Source: Ownwell