Moscow, Michigan Property Taxes
The median property tax rate in Moscow, MI is 0.30%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Moscow at $98,172, the typical annual property tax bill is $296, which is substantially below the national median of $2,690. Property taxes in Moscow are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Moscow'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 Moscow or another part of Hillsdale County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Moscow, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.3%
Estimate Property Tax Bill
$295
Ownwell’s Moscow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moscow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moscow 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 Moscow, Michigan
Property taxes in Moscow, Michigan, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Moscow is 0.30%, which is significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Moscow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moscow 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 Moscow's effective property tax rate compares to other counties in Michigan and the national median 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 Moscow Tax Rate
0.30%
Average Hillsdale County Tax Rate
0.41%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moscow, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49257 | 0.30% | 0.30% | 0.30% | 0.30% | 0.30% |
Source: Ownwell
Property Tax Assessment Values Across Moscow, Michigan
In Moscow, 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 Moscow, 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 Moscow helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Moscow both stand at $296, specifically in the 49257 zip code.
Average Moscow Assessed Value
$98,172
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 Moscow, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49257 | $83,303 | $88,879 | $98,172 | $107,464 | $113,040 |
Source: Ownwell
Property Tax Bills Across Moscow, Michigan
In Moscow, Hillsdale 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 $98,172, the tax bill can vary significantly. Homeowners in the 25th percentile may see tax bills around $269, while those in the 75th percentile could pay approximately $323. The 90th percentile tax bill is about $339. These figures indicate that the property tax burden can differ widely depending on the assessed property value and the specific tax rate applied. The assessed value is influenced by various factors, including property size, location, and market conditions. The tax bill directly impacts homeowners by affecting their annual expenses and potentially influencing their ability to invest in property improvements. Compared to the national median property tax rate of 0.99%, Moscow's property tax rates offer a relatively moderate financial obligation for homeowners, making it an attractive option for those looking to manage their housing costs effectively.
Average Moscow Tax Bill
$296
Average Hillsdale County Tax Bill
$685
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Moscow, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49257 | $253 | $269 | $296 | $323 | $339 |
Source: Ownwell