Pompeii, Michigan Property Taxes
The median property tax rate in Pompeii, MI is 0.52%, considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Pompeii, the typical annual property tax bill reaches $380, significantly below the national median of $2,690. Property taxes in Pompeii 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 Pompeii'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 Pompeii 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
Pompeii, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$391
$362
Ownwell’s Pompeii Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pompeii with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pompeii 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 Pompeii, Michigan
Property taxes in Pompeii, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pompeii is 0.52%, lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Pompeii set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pompeii 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 Pompeii's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48874 zip code has the highest median property tax rate of 0.52%, while the 48874 zip code also has the lowest median tax rate of 0.52%. Understanding how these cities compare with Pompeii 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 Pompeii Tax Rate
0.52%
Average Gratiot County Tax Rate
0.33%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pompeii, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48874 | 0.28% | 0.35% | 0.52% | 1.02% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Pompeii, Michigan
In Pompeii, 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 Pompeii, 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 Pompeii helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 48874 has both the highest and lowest median tax bills at $380, highlighting the variability within the region.
Average Pompeii Assessed Value
$75,100
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 Pompeii, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48874 | $24,380 | $55,600 | $75,100 | $91,950 | $102,840 |
Source: Ownwell
Property Tax Bills Across Pompeii, Michigan
In Pompeii, property tax bills are calculated based on the assessed value of a home, which is determined by the Gratiot County assessor's office. The assessed value typically represents 50% of the property's market value. Homeowners in Pompeii can expect their tax bills to fall within a range influenced by various factors, including the property's location, size, and condition. For instance, the median home price in Pompeii is $75,100. Tax bills can vary significantly, with the 25th percentile tax bill at $288 and the 75th percentile at $687. The 90th percentile tax bill can reach up to $963. These figures highlight how property taxes can impact homeowners differently based on their property's assessed value. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners in Pompeii to understand their local tax rates and how these rates affect their annual tax obligations. By staying informed, homeowners can better manage their finances and anticipate their property tax responsibilities.
Average Pompeii Tax Bill
$380
Average Gratiot County Tax Bill
$380
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Pompeii, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48874 | $190 | $288 | $380 | $687 | $963 |
Source: Ownwell