Glennie, Michigan Property Taxes
The median property tax rate in Glennie, MI is 0.99%, aligning with the national median of 0.99% but still below the Michigan state median of 1.07%. With a median home value of $74,200 in Glennie, the typical annual property tax bill amounts to $571, significantly lower than the national median of $2,690. Property taxes in Glennie 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 Glennie'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 Glennie 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
Glennie, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$735
Ownwell’s Glennie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glennie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glennie 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 Glennie, Michigan
Property taxes in Glennie, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glennie is 1.15%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Glennie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glennie 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 Glennie's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48738 zip code has the highest median property tax rate of 1.15%, while the 48737 zip code has the lowest median tax rate of 0.99%. Understanding how these cities compare with Glennie provides valuable insights into the varying tax landscape across Alcona County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glennie Tax Rate
0.99%
Average Alcona County Tax Rate
0.72%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glennie, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48737 | 0.43% | 0.48% | 0.99% | 1.16% | 1.27% |
| 48738 | 1.15% | 1.15% | 1.15% | 1.15% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Glennie, Michigan
In Glennie, 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 Alcona 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 Glennie, 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 Glennie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,015 in the 48738 zip code, while the lowest median tax bill is $570 in the 48737 zip code.
Average Glennie Assessed Value
$74,200
Average Alcona County Assessed Value
$114,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glennie, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48737 | $25,000 | $43,800 | $73,800 | $121,600 | $179,600 |
| 48738 | $81,000 | $83,700 | $88,200 | $92,700 | $95,400 |
Source: Ownwell
Property Tax Bills Across Glennie, Michigan
In Glennie, located in Alcona County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value typically represents 50% of the property's market value. For example, with a median home price of $74,200, the assessed value would be around $37,100. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the final tax bill, including local tax rates, property exemptions, and any applicable deductions. Homeowners in Glennie can expect varying tax bills, with the 25th percentile at $336 and the 75th percentile at $948. The 90th percentile reaches up to $1,483, reflecting higher-valued properties or fewer exemptions. Compared to the national median property tax rate of 0.99%, Glennie's rates can significantly impact homeowners, particularly those with higher-valued homes or fewer exemptions. This variation underscores the importance of understanding local tax assessments and potential exemptions to manage property tax liabilities effectively.
Average Glennie Tax Bill
$571
Average Alcona County Tax Bill
$819
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Glennie, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48737 | $206 | $336 | $570 | $947 | $1,484 |
| 48738 | $934 | $964 | $1,015 | $1,065 | $1,095 |
Source: Ownwell