Cedarville, Michigan Property Taxes
The median property tax rate in Cedarville, MI is 0.81%, which is notably lower than both the national median of 0.99% and Michigan's state median of 1.07%. With a median home value of $114,500 in Cedarville, the typical annual property tax bill amounts to $1,060, falling well below the national median of $2,690. Property taxes in Cedarville are calculated based on the assessed value, which is generally lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Gaining a comprehensive understanding of Cedarville's property tax system, exploring available exemptions, and pinpointing opportunities for reductions can result in substantial annual savings. Whether you're residing in Cedarville or investing in real estate there, familiarizing yourself with the local property tax structure is advantageous for both homeowners and investors.
Last Updated June 14, 2024
Cedarville, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$927
Ownwell’s Cedarville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cedarville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cedarville 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 Cedarville, Michigan
Property taxes in Cedarville, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cedarville is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Cedarville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cedarville 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 Cedarville's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49719 has both the highest and lowest median property tax rate of 0.81%. Understanding how these cities compare with Cedarville provides valuable insights into the varying tax landscape across Chippewa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cedarville Tax Rate
0.81%
Average Chippewa County Tax Rate
1.10%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cedarville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49719 | 0.61% | 0.70% | 0.81% | 0.89% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Cedarville, Michigan
In Cedarville, 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 Chippewa 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 Cedarville, 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. For instance, the median tax bill in Cedarville is $1,060, with the highest and lowest bills both being $1,060 in the 49719 zip code. 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 Cedarville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cedarville Assessed Value
$114,500
Average Chippewa County Assessed Value
$103,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cedarville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49719 | $49,400 | $70,550 | $114,500 | $166,450 | $268,300 |
Source: Ownwell
Property Tax Bills Across Cedarville, Michigan
In Cedarville, located in Chippewa County, MI, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the market value, which in Cedarville is influenced by the median home price of $114,500. Once the home is assessed, the local tax rate is applied to calculate the annual property tax bill. Factors that play a role in determining the tax bill include the property's location, size, and condition. Additionally, any exemptions or deductions for which the homeowner qualifies can affect the final amount. For instance, the tax bill at the 25th percentile is $562, while at the 75th percentile, it rises to $1366, and at the 90th percentile, it reaches $1974. This range demonstrates how variations in property value and applicable exemptions can significantly impact the tax burden on homeowners. Comparatively, Cedarville's property tax rates are influenced by both local and state regulations, ensuring that homeowners contribute fairly to community services and infrastructure.
Average Cedarville Tax Bill
$1,060
Average Chippewa County Tax Bill
$1,042
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Cedarville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49719 | $429 | $562 | $1,060 | $1,366 | $1,974 |
Source: Ownwell