Cement City, Hillsdale County, Michigan Property Taxes
The median property tax rate in Cement City, MI is 0.41%, considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Cement City, the typical annual property tax bill reaches $997, significantly below the national median of $2,690. Property taxes in Cement City 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 Cement City'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 Cement City 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
Cement City, Hillsdale County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$968
$898
Ownwell’s CEMENT CITY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CEMENT CITY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CEMENT CITY 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 Cement City, Hillsdale County, Michigan
Property taxes in Cement City, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cement City is 0.41%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Cement City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cement City 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 Cement City's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49233 has the highest median property tax rate of 0.41%, while the same zip code also has the lowest median tax rate of 0.41%. Understanding how these cities compare with Cement City provides valuable insights into the varying tax landscape across Hillsdale County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cement City Tax Rate
0.41%
Average Hillsdale County Tax Rate
0.41%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cement City, Hillsdale County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49233 | 0.34% | 0.37% | 0.41% | 0.47% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Cement City, Hillsdale County, Michigan
In Cement City, 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 Hillsdale 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 Cement City, 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 Cement City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $236,020, with annual tax bills ranging from $746 at the 25th percentile to $1,776 at the 90th percentile. The highest and lowest median tax bills in the area are both $997, found in the 49233 zip code.
Property Tax Assessment Values Across Cement City, Hillsdale County, Michigan
Source: Ownwell
$60,908
$148,464
$236,020
Average Cement City Assessed Value
$236,020
Average Hillsdale County Assessed Value
$141,139
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cement City, Hillsdale County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49233 | $110,874 | $171,192 | $236,020 | $327,538 | $429,895 |
Source: Ownwell
Property Tax Bills Across Cement City, Hillsdale County, Michigan
In Cement City, located in Hillsdale County, MI, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is typically a percentage of the market value, which is determined by the local assessor's office. Factors such as property size, location, and improvements can influence this assessed value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Homeowners in Cement City see a range of property tax bills. The 25th percentile tax bill is around $746, while the 75th percentile tax bill reaches $1,359. For those at the higher end, the 90th percentile tax bill is approximately $1,776. These figures are influenced by the median home price in the area, which stands at $236,020. Compared to the national median property tax rate of 0.99%, the property tax rates in Cement City are relatively moderate, providing a balanced financial environment for homeowners.
Average Cement City Tax Bill
$997
Average Hillsdale County Tax Bill
$685
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Cement City, Hillsdale County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49233 | $506 | $746 | $997 | $1,359 | $1,776 |
Source: Ownwell