Kinross, Michigan Property Taxes
The median property tax rate in Kinross, MI is 1.28%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Kinross at $90,800, the typical annual property tax bill reaches $1,186, which is below the national median of $2,690. Property taxes in Kinross are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Kinross'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 Kinross or another part of Chippewa County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kinross, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$1,162
Ownwell’s Kinross Property Tax Bill Calculator is a valuable tool for any homeowner, real estate investor, or potential owner looking to estimate their annual property taxes in Kinross. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Kinross to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities with ease. For those interested in neighborhood-level trends, scroll down to find more localized information. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Kinross, Michigan
Property taxes in Kinross, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kinross is 1.28%, significantly higher than the U.S. national median of 0.99%. Local government entities within Kinross set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kinross 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 Kinross's effective property tax rate to other areas in Chippewa County and the national median. For comparison, the 49752 zip code has the highest median property tax rate of 1.28%, while the same zip code also has the lowest median tax rate of 1.28%. Understanding how these areas compare with Kinross 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 Kinross Tax Rate
1.28%
Average Chippewa County Tax Rate
1.10%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kinross, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49752 | 0.98% | 1.17% | 1.28% | 1.97% | 2.22% |
Source: Ownwell
Property Tax Assessment Values Across Kinross, Michigan
In Kinross, 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 Kinross, 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. The median home price in Kinross is $90,800, with tax bills ranging from $663 at the 25th percentile to $2,372 at the 90th percentile. The highest and lowest median tax bills are both $1,186 in the 49752 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 Kinross Assessed Value
$90,800
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 Kinross, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49752 | $10,800 | $40,500 | $90,800 | $138,300 | $180,200 |
Source: Ownwell
Property Tax Bills Across Kinross, Michigan
In Kinross, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Kinross, the median home price stands at $90,800. Property tax bills can vary significantly, with the 25th percentile tax bill at $663 and the 75th percentile reaching $1,884. At the higher end, the 90th percentile tax bill is $2,372. These tax bills are influenced by several factors, including the local tax rate and any applicable exemptions or deductions. Homeowners in Kinross pay property taxes that contribute to essential community services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, the tax rates in Kinross reflect the local economic conditions and funding requirements. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Kinross Tax Bill
$1,186
Average Chippewa County Tax Bill
$1,042
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Kinross, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49752 | $229 | $663 | $1,186 | $1,884 | $2,372 |
Source: Ownwell