Clare, Michigan Property Taxes
The median property tax rate in Clare, MI is 0.46%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Clare, the typical annual property tax bill is $841, well below the national median of $2,690. Property taxes in Clare are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Clare’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 Clare or another part of the county, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clare, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$600
$556
Ownwell’s Clare Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clare with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clare 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 Clare, Michigan
Property taxes in Clare, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clare is 0.46%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Clare set these rates annually, and they can vary across different neighborhoods. Each year, Clare 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 Clare's effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 48617 has both the highest and lowest median property tax rate in Clare County, standing at 0.46%. Understanding how these figures compare with Clare provides valuable insights into the varying tax landscape across Clare County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clare Tax Rate
0.46%
Average Clare County Tax Rate
0.40%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clare, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48617 | 0.29% | 0.37% | 0.46% | 1.29% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Clare, Michigan
In Clare, 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 local assessment authority 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 Clare, 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 Clare is $130,332, with the 25th percentile tax bill at $472 and the 75th percentile tax bill at $1,430. The highest and lowest median tax bills are both $841 in the 48617 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 Clare Assessed Value
$130,332
Average Clare County Assessed Value
$85,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clare, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48617 | $55,432 | $85,000 | $130,332 | $190,040 | $278,280 |
Source: Ownwell
Property Tax Bills Across Clare, Michigan
In Clare, 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 is typically a percentage of the property's market value. Several factors influence this assessment, including the home's location, size, condition, and any recent sales data of similar properties in the area. Homeowners in Clare can expect their property tax bills to vary widely. For instance, the 25th percentile tax bill is around $472, while the 75th percentile reaches $1,430, and the 90th percentile can be as high as $2,134. The median home price in Clare is $130,332, and the median property tax bill is $841, which is below the national median property tax rate of 0.99%. These property taxes fund essential local services like schools, public safety, and infrastructure. Understanding how these taxes are calculated helps homeowners budget more effectively and anticipate changes in their tax obligations.
Average Clare Tax Bill
$841
Average Clare County Tax Bill
$399
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Clare, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48617 | $230 | $472 | $841 | $1,430 | $2,134 |
Source: Ownwell