Copemish, Michigan Property Taxes
The median property tax rate in Copemish, MI is 1.79%, significantly higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Copemish at $300,300, the typical annual property tax bill reaches $10,747, far exceeding the national median of $2,690. Property taxes in Copemish are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Copemish'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 Copemish 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
Copemish, Michigan Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$2,140
Ownwell’s Copemish Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Copemish with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Copemish 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 Copemish, Michigan
Property taxes in Copemish, Michigan, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Copemish is 1.79%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Copemish set these rates annually, and they can vary significantly across different neighborhoods. Each year, Copemish 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 Copemish's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49625 zip code has the highest median property tax rate of 1.79%, while the same zip code also has the lowest median tax rate of 1.79%. Understanding how these cities compare with Copemish provides valuable insights into the varying tax landscape across Wexford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Copemish Tax Rate
1.79%
Average Wexford County Tax Rate
1.72%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Copemish, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49625 | 1.79% | 1.79% | 1.79% | 1.79% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Copemish, Michigan
In Copemish, 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 Wexford 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 Copemish, 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 Copemish 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 $10,747, found in the 49625 zip code.
Average Copemish Assessed Value
$300,300
Average Wexford County Assessed Value
$108,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Copemish, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49625 | $60,060 | $150,150 | $300,300 | $450,450 | $540,540 |
Source: Ownwell
Property Tax Bills Across Copemish, Michigan
In Copemish, located in Wexford 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 Copemish is $300,300. Tax rates are applied to this assessed value to determine the annual property tax bill. Factors such as property improvements, local government budgets, and school district funding needs can influence the tax rate. For homeowners in Copemish, the property tax bill can significantly impact their annual expenses. With a median tax bill of $10,747, homeowners might find their budgets stretched, especially when compared to the national median property tax rate of 0.99%. This higher tax bill can affect decisions related to homeownership, such as whether to invest in property improvements or even whether to buy or sell a home. Understanding how these taxes are calculated and what influences them can help homeowners better manage their financial planning and obligations.
Average Copemish Tax Bill
$10,747
Average Wexford County Tax Bill
$1,919
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Copemish, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49625 | $10,747 | $10,747 | $10,747 | $10,747 | $10,747 |
Source: Ownwell