Elsie, Michigan Property Taxes
The median property tax rate in Elsie, MI is 1.30%, notably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Elsie at $121,400, the typical annual property tax bill reaches $1,491, surpassing the national median of $2,690. Property taxes in Elsie are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Elsie'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 Elsie or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Elsie, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$1,578
Ownwell’s Elsie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elsie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elsie 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 Elsie, Michigan
Property taxes in Elsie, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elsie is 1.30%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Elsie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elsie 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 Elsie's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 48831 has the highest median property tax rate of 1.30%, while the same zip code has the lowest median tax rate of 1.30%. Understanding how these cities compare with Elsie provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elsie Tax Rate
1.30%
Average Clinton County Tax Rate
1.43%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elsie, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48831 | 0.51% | 0.93% | 1.30% | 1.47% | 1.81% |
Source: Ownwell
Property Tax Assessment Values Across Elsie, Michigan
In Elsie, 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 Clinton 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 Elsie, 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 Elsie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Elsie, the median home price is $121,400, with the median tax bill being $1,491. The zip code 48831 has the highest and lowest median tax bills, both at $1,491.
Average Elsie Assessed Value
$121,400
Average Clinton County Assessed Value
$186,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elsie, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48831 | $53,400 | $83,200 | $121,400 | $182,200 | $354,640 |
Source: Ownwell
Property Tax Bills Across Elsie, Michigan
In Elsie, located in Clinton County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value typically represents 50% of the market value. For instance, with a median home price of $121,400, the assessed value would be approximately $60,700. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the final tax bill, including the property's location, any applicable exemptions, and the specific tax rate set by local authorities. In Elsie, the tax bills vary significantly, with the 25th percentile at $1,004 and the 75th percentile reaching $2,119. Homeowners in the 90th percentile can see tax bills as high as $2,926. These taxes fund essential public services such as schools, roads, and emergency services. Compared to the national median property tax rate of 0.99%, Elsie's rates can be a significant financial consideration for homeowners.
Average Elsie Tax Bill
$1,491
Average Clinton County Tax Bill
$2,460
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Elsie, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48831 | $712 | $1,004 | $1,491 | $2,119 | $2,926 |
Source: Ownwell