Kingsford, Michigan Property Taxes
The median property tax rate in Kingsford, MI is 1.55%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Kingsford at $87,000, the typical annual property tax bill reaches $1,276, exceeding the national median of $2,690. Property taxes in Kingsford 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 Kingsford'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 Kingsford 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
Kingsford, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.55%
Estimate Property Tax Bill
$1,349
Ownwell’s Kingsford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kingsford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kingsford 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 Kingsford, Michigan
Property taxes in Kingsford, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kingsford is 1.55%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Kingsford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kingsford 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 Kingsford's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49802 zip code has the highest median property tax rate of 1.55%, while the 49802 zip code also has the lowest median tax rate of 1.55%. Understanding how these cities compare with Kingsford provides valuable insights into the varying tax landscape across Dickinson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kingsford Tax Rate
1.55%
Average Dickinson County Tax Rate
1.46%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kingsford, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49802 | 0.68% | 1.38% | 1.55% | 1.73% | 2.22% |
Source: Ownwell
Property Tax Assessment Values Across Kingsford, Michigan
In Kingsford, 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 Dickinson 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 Kingsford, 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 Kingsford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 49802, with an average of $1,276.
Average Kingsford Assessed Value
$87,000
Average Dickinson County Assessed Value
$85,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kingsford, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49802 | $42,400 | $59,200 | $87,000 | $129,400 | $190,000 |
Source: Ownwell
Property Tax Bills Across Kingsford, Michigan
Property tax bills in Kingsford, located in Dickinson County, MI, are calculated based on the assessed value of a property, which is typically a percentage of its market value. For example, with a median home price of $87,000, the assessed value used to determine the tax bill is derived from this figure. Various factors influence the final tax bill, including local tax rates and any applicable exemptions or deductions. Homeowners in Kingsford can expect a wide range of property tax bills. At the 25th percentile, the tax bill is around $818, while at the 75th percentile, it rises to approximately $1,885. The tax bill can reach up to $2,948 at the 90th percentile. The highest median tax bill in the area stands at $1,276, which is notably higher than the national median property tax rate of 0.99%. These property taxes significantly impact homeowners, as they must budget for these annual expenses, which can vary widely depending on the assessed value and local tax rates.
Average Kingsford Tax Bill
$1,276
Average Dickinson County Tax Bill
$1,193
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Kingsford, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49802 | $514 | $818 | $1,276 | $1,885 | $2,948 |
Source: Ownwell