Conway, Michigan Property Taxes
The median property tax rate in Conway, Michigan is 1.32%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Conway, the typical annual property tax bill reaches $1,650, which, although lower than the national median of $2,690, reflects the higher local rate. Property taxes in Conway 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 Conway'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 Conway 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
Conway, Michigan Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$2,140
Ownwell’s Conway Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Conway with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Conway 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 Conway, Michigan
Property taxes in Conway, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Conway is 1.32%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Conway set these rates annually, and they can vary significantly across different neighborhoods. Each year, Conway 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 Conway's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49722 zip code has the highest median property tax rate of 1.32%, while the same zip code also has the lowest median tax rate of 1.32%. Understanding how these areas compare with Conway provides valuable insights into the varying tax landscape across Emmet County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Conway Tax Rate
1.32%
Average Emmet County Tax Rate
0.97%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Conway, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49722 | 0.53% | 0.75% | 1.32% | 1.72% | 1.93% |
Source: Ownwell
Property Tax Assessment Values Across Conway, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Conway, Michigan. 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 local 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. Assessment notices in Conway 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 Conway helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 49722 has the highest and lowest median tax bill, both at $1,650, highlighting the variability within the region.
Average Conway Assessed Value
$144,200
Average Emmet County Assessed Value
$259,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Conway, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49722 | $69,300 | $93,900 | $144,200 | $194,900 | $246,400 |
Source: Ownwell
Property Tax Bills Across Conway, Michigan
In Conway, located in Emmet County, MI, property tax bills are calculated based on the assessed value of a property, which typically reflects a percentage of its market value. Homeowners in Conway face property tax bills that vary widely, from the 25th percentile at $1,132 to the 90th percentile at $3,327. The median home price in the area is $144,200, and the tax rate is influenced by local government budgets, school funding needs, and other municipal services. Comparatively, the median property tax rate in Conway is significantly higher than the national median of 0.99%, reflecting the area’s reliance on property taxes for funding public services. Homeowners in the highest median tax bill zip code of 49722 face a median bill of $1,650, which can impact household budgets and the overall cost of living. Understanding how these factors interplay is crucial for homeowners to manage their finances effectively and anticipate future tax obligations.
Average Conway Tax Bill
$1,650
Average Emmet County Tax Bill
$2,560
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Conway, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49722 | $757 | $1,132 | $1,650 | $2,785 | $3,327 |
Source: Ownwell