Escanaba, Michigan Property Taxes
The median property tax rate in Escanaba, MI is 1.27%, noticeably higher than both the national median of 0.99% and Michigan's state median of 1.07%. With the median home value in Escanaba, the typical annual property tax bill reaches $1,018, which is below the national median of $2,690. Property taxes in Escanaba are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Escanaba'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 Escanaba 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
Escanaba, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$1,331
$1,235
Ownwell’s Escanaba Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Escanaba with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Escanaba 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 Escanaba, Michigan
Property taxes in Escanaba, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Escanaba is 1.27%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Escanaba set these rates annually, and they can vary significantly across different neighborhoods. Each year, Escanaba 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 Escanaba's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49829 zip code has the highest median property tax rate of 1.27%, while it also has the lowest median tax rate of 1.27%. Understanding how these cities compare with Escanaba provides valuable insights into the varying tax landscape across Delta County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Escanaba Tax Rate
1.27%
Average Delta County Tax Rate
0.51%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Escanaba, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49829 | 0.43% | 0.50% | 1.27% | 1.42% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Escanaba, Michigan
In Escanaba, 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 Delta 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 Escanaba, 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 Escanaba helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Escanaba is $104,800, with tax bills ranging from $625 at the 25th percentile to $2,157 at the 90th percentile. The zip code 49829 has both the highest and lowest median tax bill, recorded at $1,018.
Average Escanaba Assessed Value
$104,800
Average Delta County Assessed Value
$107,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Escanaba, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49829 | $38,000 | $69,000 | $104,800 | $154,200 | $225,000 |
Source: Ownwell
Property Tax Bills Across Escanaba, Michigan
In Escanaba, Delta County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The assessed value is a percentage of the market value of the property. Homeowners in Escanaba can expect a median property tax bill of $1,018, aligning with the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, homes in the 25th percentile of tax bills pay around $625, while those in the 75th percentile see bills closer to $1,516. The highest tax bills, in the 90th percentile, reach up to $2,157. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Understanding how property tax bills are calculated can help homeowners in Escanaba better manage their finances and anticipate yearly expenses.
Average Escanaba Tax Bill
$1,018
Average Delta County Tax Bill
$702
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Escanaba, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49829 | $266 | $625 | $1,018 | $1,516 | $2,157 |
Source: Ownwell