Alma, Michigan Property Taxes
The median property tax rate in Alma, MI is 0.19%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Alma, the typical annual property tax bill reaches $209, far below the national median of $2,690. Property taxes in Alma 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 Alma'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 Alma 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
Alma, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.19%
Estimate Property Tax Bill
$199
$184
Ownwell’s Alma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alma 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 Alma, Michigan
Property taxes in Alma, Michigan, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Alma is 0.19%, which is significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Alma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alma 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 Alma's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in the region is found in a neighboring area, while another nearby area has the lowest median tax rate. Understanding how these cities compare with Alma provides valuable insights into the varying tax landscape across Gratiot County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alma Tax Rate
0.19%
Average Gratiot County Tax Rate
0.33%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alma, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48801 | 0.11% | 0.14% | 0.19% | 0.28% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Alma, Michigan
In Alma, 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 Gratiot 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 Alma, 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. In Alma, the highest median tax bill is $209 in the 48801 zip code, which is also the lowest. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Alma Assessed Value
$104,600
Average Gratiot County Assessed Value
$112,300
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alma, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48801 | $15,020 | $72,200 | $104,600 | $157,000 | $225,000 |
Source: Ownwell
Property Tax Bills Across Alma, Michigan
In Alma, located in Gratiot County, MI, property tax bills are calculated based on the assessed value of a home, typically set at 50% of its market value. Homeowners in Alma can expect their tax bills to vary within a range, reflecting differences in property values and specific local tax rates. The median home price in Alma is $104,600, and tax bills can range significantly. For instance, the 25th percentile tax bill is $125, while the 75th percentile tax bill rises to $399, and the 90th percentile tax bill can reach $726. These tax bills are influenced by various factors, including the local millage rate and any applicable exemptions or deductions. Homeowners with properties in the zip code 48801 will see a median tax bill of $209, which aligns with the highest and lowest median tax bills recorded for the area. Compared to the national median property tax rate of 0.99%, Alma's property tax bills provide a more affordable option for homeowners, affecting their overall cost of living and financial planning.
Average Alma Tax Bill
$209
Average Gratiot County Tax Bill
$380
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Alma, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48801 | $88 | $125 | $209 | $399 | $726 |
Source: Ownwell