Wales, Michigan Property Taxes
The median property tax rate in Wales, MI is 0.56%, considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Wales at $252,200, the typical annual property tax bill reaches $1,444, which is significantly below the national median of $2,690. Property taxes in Wales 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 Wales' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Wales 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
Wales, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$1,412
Ownwell’s Wales Property Tax Bill Calculator enables homeowners, real estate investors, and potential owners to estimate their annual property taxes in Wales with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Wales to provide an estimate of your property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property’s assessed value, determined by St. Clair County, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Wales, Michigan
Property taxes in Wales, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wales is 0.56%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Wales set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wales 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 Wales' effective property tax rate to other counties in Michigan and the national median. For comparison, the 48027 zip code has the highest median property tax rate of 0.56%, while the same zip code also has the lowest median tax rate of 0.56%. Understanding how these cities compare with Wales 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 Wales Tax Rate
0.56%
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 Wales, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48027 | 0.40% | 0.48% | 0.56% | 0.69% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Wales, Michigan
In Wales, 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 Wales, 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 Wales helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the region is found in zip code 48027, amounting to $1,444 annually.
Average Wales Assessed Value
$252,200
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 Wales, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48027 | $149,160 | $197,600 | $252,200 | $321,100 | $390,680 |
Source: Ownwell
Property Tax Bills Across Wales, Michigan
In Wales, 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. For instance, with a median home price of $252,200, the property tax rate in Wales is influenced by various factors including local tax rates and specific property characteristics. Homeowners in Wales can expect their tax bills to vary significantly; the 25th percentile tax bill is around $1,085, while the 75th percentile reaches $1,974, and the 90th percentile can be as high as $2,618. These figures highlight the range of property tax liabilities that homeowners might face, depending on their property's assessed value and the applicable tax rate. The national median property tax rate stands at 0.99%, which provides a useful benchmark for comparison. Understanding these factors helps homeowners anticipate their tax obligations and plan their finances accordingly.
Average Wales Tax Bill
$1,444
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 Wales, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48027 | $800 | $1,085 | $1,444 | $1,974 | $2,618 |
Source: Ownwell