Sunrise, Michigan Property Taxes
The median property tax rate in Sunrise, MI is 0.54%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Sunrise at $143,200, the typical annual property tax bill is $774, well below the national median of $2,690. Property taxes in Sunrise 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 Sunrise'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 Sunrise or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sunrise, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$773
Ownwell’s Sunrise Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sunrise with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sunrise 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 Sunrise, Michigan
Property taxes in Sunrise, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sunrise is 1.54%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Sunrise set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sunrise 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 Sunrise's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49015 zip code has the highest median property tax rate of 1.72%, while the 49021 zip code has the lowest median tax rate of 1.36%. Understanding how these cities compare with Sunrise provides valuable insights into the varying tax landscape across Schoolcraft County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sunrise Tax Rate
0.54%
Average Schoolcraft County Tax Rate
0.45%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sunrise, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Sunrise, Michigan
In Sunrise, 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 Schoolcraft 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 Sunrise, 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 Sunrise helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the median home price in Sunrise is $143,200. The tax bills can vary, with some areas seeing bills as low as $774.
Average Sunrise Assessed Value
$143,200
Average Schoolcraft County Assessed Value
$86,700
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sunrise, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Sunrise, Michigan
In Sunrise, located in Schoolcraft County, MI, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor and typically represents 50% of the market value. For example, with a median home price of $143,200, the assessed value would be approximately $71,600. The property tax rate is then applied to this assessed value to calculate the tax bill. Several factors influence the final tax bill, including local tax rates and any applicable exemptions or deductions. In Sunrise, the property tax rate is notably lower than the national median of 0.99%. Homeowners in this area can expect a tax bill around $774, which is consistent across various percentiles, indicating a stable tax environment. This relatively low property tax burden can be beneficial for homeowners, making homeownership more affordable and potentially increasing the attractiveness of the area for new residents. Understanding how these factors interplay helps homeowners anticipate their annual property tax expenses and plan their finances accordingly.
Average Sunrise Tax Bill
$774
Average Schoolcraft County Tax Bill
$504
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Sunrise, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell