Casco, Michigan Property Taxes
The median property tax rate in Casco, MI is 0.70%, which is notably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Casco at $288,600, the typical annual property tax bill amounts to $1,962, falling below the national median of $2,690. Property taxes in Casco are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Casco'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 Casco or another part of St. Clair County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Casco, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$2,020
Ownwell’s Casco Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Casco with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Casco 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 Casco, Michigan
Property taxes in Casco, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Casco is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Casco set these rates annually, and they can vary significantly across different neighborhoods. Each year, Casco 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 Casco's effective property tax rate to other areas in Michigan and the national median. For comparison, the 48064 zip code has the highest median property tax rate of 0.70%, while the same zip code also has the lowest median tax rate of 0.70%. Understanding how these areas compare with Casco provides valuable insights into the varying tax landscape across St. Clair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Casco Tax Rate
0.70%
Average St. Clair County Tax Rate
0.78%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Casco, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48064 | 0.51% | 0.56% | 0.70% | 0.83% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Casco, Michigan
In Casco, 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 St. Clair 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 Casco, 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 Casco helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Casco is $288,600, with tax bills ranging from $1,454 at the 25th percentile to $3,645 at the 90th percentile. The highest and lowest median tax bills are both $1,962 in the 48064 zip code.
Average Casco Assessed Value
$288,600
Average St. Clair County Assessed Value
$181,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Casco, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48064 | $152,800 | $213,200 | $288,600 | $382,400 | $504,600 |
Source: Ownwell
Property Tax Bills Across Casco, Michigan
In Casco, St. Clair County, MI, property tax bills are calculated based on the assessed value of a home, which is typically 50% of its market value. For instance, with a median home price of $288,600, the assessed value would be around $144,300. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Factors such as property improvements, neighborhood changes, and market conditions can influence the assessed value. Homeowners in Casco can expect their property tax bills to vary significantly. At the 25th percentile, the tax bill is approximately $1,454, while at the 75th percentile, it rises to about $2,720. For those at the 90th percentile, the tax bill can reach up to $3,645. The highest and lowest median tax bills in the area are both $1,962, aligning with the zip code 48064. Compared to the national median property tax rate of 0.99%, Casco's tax rates can present a considerable expense for homeowners, impacting their overall financial planning and homeownership costs.
Average Casco Tax Bill
$1,962
Average St. Clair County Tax Bill
$1,504
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Casco, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48064 | $1,055 | $1,454 | $1,962 | $2,720 | $3,645 |
Source: Ownwell