Marysville, Michigan Property Taxes
The median property tax rate in Marysville, MI is 1.25%, notably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $172,600, the typical annual property tax bill in Marysville reaches $2,258, which is below the national median of $2,690. Property taxes in Marysville 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 Marysville'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 Marysville 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
Marysville, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$2,158
Ownwell’s Marysville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marysville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marysville 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 Marysville, Michigan
Property taxes in Marysville, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marysville is 1.25%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Marysville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marysville 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 Marysville's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48040 zip code has the highest median property tax rate of 1.25%, while the same zip code also has the lowest median tax rate of 1.25%. Understanding how these cities compare with Marysville 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 Marysville Tax Rate
1.25%
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 Marysville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48040 | 0.94% | 1.04% | 1.25% | 1.53% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Marysville, Michigan
In Marysville, 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 Marysville, 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 Marysville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,258, found in the 48040 zip code.
Average Marysville Assessed Value
$172,600
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 Marysville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48040 | $76,200 | $131,000 | $172,600 | $229,000 | $291,680 |
Source: Ownwell
Property Tax Bills Across Marysville, Michigan
In Marysville, MI, property tax bills are determined based on the assessed value of a home, which is typically a percentage of the property's market value. The tax rate, applied to this assessed value, is set by local government authorities and is used to fund various public services. For example, the median home price in Marysville is $172,600, and homeowners in the 25th percentile pay around $1,657 annually, while those in the 75th percentile pay approximately $3,026. Several factors influence the final tax bill, including the property's location, the local tax rate, and any applicable exemptions or deductions. In St. Clair County, where Marysville is located, the highest median tax bill is $2,258. This system ensures that homeowners contribute to community services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Marysville's rates can significantly impact household budgets, particularly for higher-valued properties.
Average Marysville Tax Bill
$2,258
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 Marysville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48040 | $1,282 | $1,657 | $2,258 | $3,026 | $3,929 |
Source: Ownwell