Roscommon, Michigan Property Taxes
The median property tax rate in Roscommon, MI is 0.45%, considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $105,000 in Roscommon, the typical annual property tax bill amounts to $508, significantly below the national median of $2,690. Property taxes in Roscommon are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Roscommon'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 Roscommon 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
Roscommon, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$473
$438
Ownwell’s Roscommon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Roscommon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Roscommon 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 Roscommon, Michigan
Property taxes in Roscommon, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Roscommon is 0.45%, lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Roscommon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Roscommon 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 Roscommon's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48653 zip code has both the highest and lowest median property tax rate of 0.45%. Understanding how these areas compare with Roscommon provides valuable insights into the varying tax landscape across Crawford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Roscommon Tax Rate
0.45%
Average Crawford County Tax Rate
0.70%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Roscommon, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48653 | 0.33% | 0.37% | 0.45% | 0.60% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Roscommon, Michigan
In Roscommon, 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 Crawford 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 Roscommon, 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 Roscommon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Roscommon is $105,000, with the highest and lowest median tax bills both being $508 in the 48653 zip code.
Average Roscommon Assessed Value
$105,000
Average Crawford County Assessed Value
$114,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Roscommon, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48653 | $33,400 | $62,000 | $105,000 | $154,600 | $219,800 |
Source: Ownwell
Property Tax Bills Across Roscommon, Michigan
In Roscommon, 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 property's market value. For example, with a median home price of $105,000, the assessed value would be approximately $52,500. This value is then multiplied by the local tax rate to determine the annual tax bill. Factors influencing the tax bill include property location, improvements, and market trends. In Roscommon, tax bills can vary significantly, with the 25th percentile at $281 and the 75th percentile at $842. The highest median tax bill recorded in the area is $508, which is relatively lower than the national median property tax rate of 0.99%. For homeowners, this means that while property values and tax rates affect their annual obligations, the overall property tax burden in Roscommon remains relatively manageable compared to other regions.
Average Roscommon Tax Bill
$508
Average Crawford County Tax Bill
$853
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Roscommon, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48653 | $162 | $281 | $508 | $842 | $1,280 |
Source: Ownwell