Sears, Michigan Property Taxes
The median property tax rate in Sears, MI is 0.40%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Sears, the typical annual property tax bill is $508, well below the national median of $2,690. Property taxes in Sears are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sears' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Sears 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
Sears, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$619
$575
Ownwell’s SEARS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SEARS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SEARS 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 Sears, Michigan
Property taxes in Sears, Michigan, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Sears is 0.40%, significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Sears set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sears 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 Sears's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in Michigan is found in ZIP code 48167, with a rate of 2.65%, while the lowest median tax rate is in ZIP code 49858, at 0.28%. Understanding how these cities compare with Sears 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 Sears Tax Rate
0.40%
Average Clare County Tax Rate
0.40%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sears, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49679 | 0.32% | 0.37% | 0.40% | 0.41% | 0.42% |
Source: Ownwell
Property Tax Assessment Values Across Sears, Michigan
In Sears, 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 Clare 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 Sears, 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 Sears helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Sears are both $508, found in the zip code 49679.
Average Sears Assessed Value
$154,872
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 Sears, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49679 | $110,805 | $118,880 | $154,872 | $304,119 | $516,053 |
Source: Ownwell
Property Tax Bills Across Sears, Michigan
In Sears, located in Clare County, MI, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the annual property tax bill. For homeowners in Sears, the median home price is approximately $154,872. Property tax bills can vary significantly, with the 25th percentile at $474 and the 75th percentile at $1,060, reflecting the range of property values and corresponding assessments. Several factors influence the tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, the highest median tax bill in Sears is $508, while the lowest is also $508, indicating a consistent rate across different properties in the area. Homeowners should be aware that property taxes can significantly impact their annual budget, making it essential to understand how these taxes are calculated and managed. Comparing this to the national median property tax rate of 0.99%, Sears residents experience relatively moderate property tax bills.
Average Sears Tax Bill
$508
Average Clare County Tax Bill
$399
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Sears, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49679 | $458 | $474 | $508 | $1,060 | $2,008 |
Source: Ownwell