Ruby, Michigan Property Taxes
The median property tax rate in Ruby, MI is 0.34%, considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Ruby, the typical annual property tax bill reaches $538, significantly less than the national median of $2,690. Property taxes in Ruby 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 Ruby'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 Ruby 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
Ruby, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$546
Ownwell’s Ruby Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ruby with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ruby 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 Ruby, Michigan
Property taxes in Ruby, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ruby 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 Ruby set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ruby 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 Ruby's effective property tax rate to other counties in Michigan and the national median. Understanding how these cities compare with Ruby 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 Ruby Tax Rate
0.34%
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 Ruby, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48049 | 0.32% | 0.32% | 0.34% | 0.34% | 0.41% |
Source: Ownwell
Property Tax Assessment Values Across Ruby, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Ruby, Michigan. 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 Ruby, 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 example, the median home price in Ruby is $160,500, with tax bills ranging from $424 at the 25th percentile to $811 at the 90th percentile. The highest and lowest median tax bills in Ruby are both $538, found in the 48049 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 Ruby Assessed Value
$160,500
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 Ruby, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48049 | $105,300 | $127,550 | $160,500 | $184,400 | $203,600 |
Source: Ownwell
Property Tax Bills Across Ruby, Michigan
In Ruby, 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. Factors such as the local tax rate and the specific property's assessed value play crucial roles in determining the final tax bill. For instance, the median home price in Ruby is $160,500. Homeowners can expect their tax bills to vary significantly, with the 25th percentile tax bill at $424 and the 75th percentile at $625. The highest median tax bill recorded in the area is $538 in zip code 48049, which is notably lower than the national median property tax rate of 0.99%. These variations affect homeowners differently, with higher-value homes generally incurring higher tax bills. Understanding these factors can help homeowners in Ruby better anticipate their property tax obligations and manage their finances accordingly.
Average Ruby Tax Bill
$538
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 Ruby, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48049 | $362 | $424 | $538 | $625 | $811 |
Source: Ownwell