Pellston, Michigan Property Taxes
The median property tax rate in Pellston, MI is 1.00%, slightly higher than the national median of 0.99% but lower than the Michigan state median of 1.07%. With a median home value of $136,600 in Pellston, the typical annual property tax bill amounts to $1,363, which is below the national median of $2,690. Property taxes in Pellston are calculated based on the tax assessed value, often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Pellston's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in significant annual savings. Whether you're in the heart of Pellston or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pellston, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$1,366
Ownwell’s Pellston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pellston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pellston 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 Pellston, Michigan
Property taxes in Pellston, Michigan, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Pellston is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within Pellston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pellston 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. Understanding how Pellston's effective property tax rate compares to other areas in Emmet County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pellston Tax Rate
1.00%
Average Emmet County Tax Rate
0.97%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pellston, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49769 | 0.58% | 0.76% | 1.00% | 1.28% | 1.64% |
Source: Ownwell
Property Tax Assessment Values Across Pellston, Michigan
In Pellston, 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 Emmet 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 Pellston, 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. For example, the median home price in Pellston is $136,600, with annual tax bills ranging from $964 at the 25th percentile to $2,663 at the 90th percentile. The zip code 49769 has the highest and lowest median tax bill, both at $1,363. 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 Pellston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pellston Assessed Value
$136,600
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 Pellston, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49769 | $56,680 | $90,200 | $136,600 | $205,700 | $302,280 |
Source: Ownwell
Property Tax Bills Across Pellston, Michigan
In Pellston, located in Emmet County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Pellston is $136,600. Homeowners can expect their property tax bills to vary, with the 25th percentile tax bill at $964 and the 75th percentile tax bill at $1930. The highest median tax bill in the area is $1363, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the home's assessed value, local tax rates, and any applicable exemptions. These elements together determine the final amount owed. For homeowners, this means that the tax burden can vary widely depending on the assessed value of their property and the specific rates set by local authorities. Understanding these factors is crucial for homeowners to anticipate their annual tax obligations and manage their finances effectively.
Average Pellston Tax Bill
$1,363
Average Emmet County Tax Bill
$2,560
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Pellston, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49769 | $620 | $964 | $1,363 | $1,930 | $2,663 |
Source: Ownwell