Emmett, Michigan Property Taxes
The median property tax rate in Emmett, MI is 0.35%, significantly lower than both the national median of 0.99% and Michigan's state median of 1.07%. With the median home value in Emmett at $242,200, the typical annual property tax bill amounts to $871, well below the national median of $2,690. Property taxes in Emmett are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Emmett'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 Emmett 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
Emmett, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.35%
Estimate Property Tax Bill
$848
Ownwell’s Emmett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Emmett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Emmett 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 Emmett, Michigan
Property taxes in Emmett, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Emmett is 1.54%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Emmett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Emmett 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 Emmett's effective property tax rate to other counties in Michigan and the national median. For comparison, the ZIP code with the highest median property tax rate in the state has a rate of 1.83%, while the ZIP code with the lowest median tax rate has a rate of 0.85%. Understanding how these cities compare with Emmett 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 Emmett Tax Rate
0.35%
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 Emmett, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48022 | 0.30% | 0.33% | 0.35% | 0.43% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Emmett, Michigan
In Emmett, 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 Equalization Department 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 Emmett, 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 Emmett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 48022 has the highest and lowest median tax bill in the area, both at $871.
Average Emmett Assessed Value
$242,200
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 Emmett, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48022 | $117,860 | $184,700 | $242,200 | $298,600 | $360,380 |
Source: Ownwell
Property Tax Bills Across Emmett, Michigan
In Emmett, located in St. Clair 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 this area is $242,200. Local tax rates are applied to this assessed value to determine the annual tax bill. Various factors influence this calculation, including property location, improvements, and market conditions. Homeowners in Emmett can expect their property tax bills to vary. For instance, those in the 25th percentile pay around $659 annually, while those in the 75th percentile face bills closer to $1,131. At the 90th percentile, property tax bills can reach up to $1,542. These figures are influenced by local tax rates and the specific characteristics of each property. Compared to the national median property tax rate of 0.99%, Emmett's tax rates offer a relatively moderate burden for homeowners. Understanding these factors helps residents anticipate their financial commitments and plan accordingly.
Average Emmett Tax Bill
$871
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 Emmett, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48022 | $458 | $659 | $871 | $1,131 | $1,542 |
Source: Ownwell