Melvin, Michigan Property Taxes
The median property tax rate in Melvin, MI is 0.42%, considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Melvin at $249,800, the typical annual property tax bill reaches $926, significantly below the national median of $2,690. Property taxes in Melvin are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Melvin'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 Melvin 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
Melvin, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$1,049
Ownwell’s Melvin Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Melvin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Melvin to provide an accurate estimate of your property tax bill. This valuable tool helps you anticipate potential tax liabilities. For those interested in more detailed trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by St. Clair County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Melvin, Michigan
Property taxes in Melvin, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Melvin is 0.42%, significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Melvin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Melvin 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 Melvin's effective property tax rate to other regions in Michigan and the national median. For comparison, the 48454 zip code has both the highest and lowest median property tax rate of 0.42%. Understanding how these areas compare with Melvin 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 Melvin Tax Rate
0.42%
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 Melvin, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48454 | 0.36% | 0.37% | 0.42% | 0.47% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Melvin, Michigan
In Melvin, 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 Melvin, 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. For instance, the median home price in Melvin is $249,800, with tax bills ranging from $820 at the 25th percentile to $1,137 at the 90th percentile. The highest and lowest median tax bills both stand at $926 in the 48454 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Melvin Assessed Value
$249,800
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 Melvin, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48454 | $175,520 | $220,700 | $249,800 | $256,800 | $262,200 |
Source: Ownwell
Property Tax Bills Across Melvin, Michigan
In Melvin, located in 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 $249,800, the assessed value would be approximately $124,900. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. In Melvin, the property tax rate aligns closely with the national median of 0.99%. Several factors influence the final tax bill, including the home’s assessed value, local tax rates, and any applicable exemptions. For homeowners in Melvin, property tax bills range significantly. The 25th percentile tax bill is around $820, while the 75th percentile reaches up to $1,040, and the 90th percentile can go as high as $1,137. These taxes fund essential public services, such as schools and infrastructure, impacting the quality of life and property values in the area. Understanding these factors helps homeowners anticipate their annual expenses and plan accordingly.
Average Melvin Tax Bill
$926
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 Melvin, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48454 | $739 | $820 | $926 | $1,040 | $1,137 |
Source: Ownwell