Coleman, Gladwin County, Michigan Property Taxes
The median property tax rate in Coleman, MI is 0.54%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Coleman being $111,600, the typical annual property tax bill is $643, well below the national median of $2,690. Property taxes in Coleman are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Coleman's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Coleman 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
Coleman, Gladwin County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$603
$559
Ownwell’s Coleman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coleman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coleman 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 Coleman, Gladwin County, Michigan
Property taxes in Coleman, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coleman is 0.54%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Coleman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coleman 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 Coleman's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48618 zip code has both the highest and lowest median property tax rate of 0.54%. Understanding how these cities compare with Coleman provides valuable insights into the varying tax landscape across Gladwin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coleman Tax Rate
0.54%
Average Gladwin County Tax Rate
0.55%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coleman, Gladwin County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48618 | 0.39% | 0.46% | 0.54% | 0.66% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Coleman, Gladwin County, Michigan
In Coleman, 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 Gladwin 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 Coleman, 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 Coleman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 48618, at $643.00.
Property Tax Assessment Values Across Coleman, Gladwin County, Michigan
Source: Ownwell
$91,800
$112,000
$132,200
Average Coleman Assessed Value
$111,600
Average Gladwin County Assessed Value
$105,000
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coleman, Gladwin County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48618 | $46,000 | $79,300 | $111,600 | $186,900 | $243,800 |
Source: Ownwell
Property Tax Bills Across Coleman, Gladwin County, Michigan
In Coleman, located in Gladwin County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, with a median home price of $111,600, the tax bill can vary significantly. Homeowners in the 25th percentile can expect a tax bill around $459, while those in the 75th percentile might see a bill closer to $1,020. At the 90th percentile, tax bills can reach up to $1,436. These variations are influenced by several factors, including local tax rates and the specific assessed value of each property. Compared to the national median property tax rate of 0.99%, Coleman's rates can be quite variable, impacting homeowners differently based on their property's valuation. Understanding these factors is crucial for homeowners to anticipate their annual tax obligations and manage their finances effectively.
Average Coleman Tax Bill
$643
Average Gladwin County Tax Bill
$640
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Coleman, Gladwin County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48618 | $375 | $459 | $643 | $1,020 | $1,436 |
Source: Ownwell