Cloverdale, Michigan Property Taxes
The median property tax rate in Cloverdale, MI is 0.88%, which is lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Cloverdale at $137,300, the typical annual property tax bill is $1,437, falling below the national median of $2,690. Property taxes in Cloverdale are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Cloverdale'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 Cloverdale or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cloverdale, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,208
$1,121
Ownwell’s Cloverdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cloverdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cloverdale 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 Cloverdale, Michigan
Property taxes in Cloverdale, Michigan, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cloverdale is 0.88%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Cloverdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cloverdale 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 Cloverdale's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49035 has both the highest and lowest median property tax rate of 0.88%. Understanding how these areas compare with Cloverdale provides valuable insights into the varying tax landscape across Barry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cloverdale Tax Rate
0.88%
Average Barry County Tax Rate
1.13%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cloverdale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49035 | 0.66% | 0.74% | 0.88% | 1.17% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Cloverdale, Michigan
In Cloverdale, 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 Barry 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 Cloverdale, 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 Cloverdale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill in the area is 49035, with a median tax bill of $1,437.
Average Cloverdale Assessed Value
$137,300
Average Barry County Assessed Value
$180,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cloverdale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49035 | $59,920 | $94,750 | $137,300 | $191,350 | $252,280 |
Source: Ownwell
Property Tax Bills Across Cloverdale, Michigan
Property tax bills in Cloverdale, Barry County, MI, are calculated based on the assessed value of your property, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine your annual tax bill. For example, with a median home price of $137,300, homeowners can expect to pay a median property tax bill of approximately $1,437 annually. This is higher than the national median property tax rate of 0.99%. Factors such as property improvements, location, and market conditions can influence the assessed value. Homeowners in the 25th percentile of tax bills pay around $783, while those in the 75th percentile pay about $1,796. At the 90th percentile, the tax bill can reach up to $2,508. These varying amounts reflect how property values and local tax rates impact individual tax obligations. Understanding these factors can help homeowners anticipate their property tax responsibilities and plan accordingly.
Average Cloverdale Tax Bill
$1,437
Average Barry County Tax Bill
$1,949
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Cloverdale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49035 | $353 | $783 | $1,437 | $1,796 | $2,508 |
Source: Ownwell