Spruce, Michigan Property Taxes
The median property tax rate in Spruce, MI is 0.42%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $113,900 in Spruce, the typical annual property tax bill amounts to $463, well below the national median of $2,690. Property taxes in Spruce are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Spruce’s property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Spruce or another part of Alpena County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Spruce, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$478
Ownwell’s Spruce Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Spruce with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spruce 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 Spruce, Michigan
Property taxes in Spruce, Michigan, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Spruce is 0.42%, significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Spruce set these rates annually, and they can vary across different neighborhoods. Each year, Spruce 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 Spruce's effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 48762 has both the highest and lowest median property tax rate of 0.42%. Understanding how these areas compare with Spruce provides valuable insights into the varying tax landscape across Alpena County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Spruce Tax Rate
0.42%
Average Alpena County Tax Rate
0.46%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spruce, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48762 | 0.32% | 0.38% | 0.42% | 0.45% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Spruce, Michigan
In Spruce, 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 Alpena 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. 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. For instance, in Spruce, the highest median tax bill is $463.00 in the 48762 zip code, while the lowest median tax bill is also $463.00 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Spruce Assessed Value
$113,900
Average Alpena County Assessed Value
$107,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Spruce, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48762 | $28,900 | $62,700 | $113,900 | $172,100 | $222,540 |
Source: Ownwell
Property Tax Bills Across Spruce, Michigan
In Spruce, located in Alpena County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The assessed value typically represents 50% of the market value of the property. Homeowners in Spruce can expect their tax bills to vary significantly, with the 25th percentile tax bill at $269 and the 75th percentile reaching $725. For those at the higher end, the 90th percentile tax bill is $921. Compared to the national median property tax rate of 0.99%, Spruce homeowners generally experience lower rates, with the highest median tax bill in the area being $463, specifically in the 48762 zip code. These tax bills are influenced by various factors including property size, location, and any applicable exemptions. Understanding these elements is crucial for homeowners as they directly impact their financial obligations and overall cost of living. By staying informed, residents can better manage their property tax liabilities and plan accordingly.
Average Spruce Tax Bill
$463
Average Alpena County Tax Bill
$661
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Spruce, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48762 | $99 | $269 | $463 | $725 | $921 |
Source: Ownwell