Chassell, Michigan Property Taxes
The median property tax rate in Chassell, MI is 0.73%, notably lower than both the national median of 0.99% and Michigan's state median of 1.07%. With the median home value in Chassell at $155,067, the typical annual property tax bill amounts to $1,127, significantly below the national median of $2,690. Property taxes in Chassell are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Chassell's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve considerable annual savings. Whether you're in the heart of Chassell or another part of Houghton County, grasping the local property tax system can benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chassell, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$1,132
Ownwell’s Chassell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chassell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chassell 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 Chassell, Michigan
Property taxes in Chassell, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chassell is 0.73%, lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Chassell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chassell 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 Chassell's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49916 zip code has the highest median property tax rate of 0.73%, while it also has the lowest median tax rate of 0.73%. Understanding how these cities compare with Chassell provides valuable insights into the varying tax landscape across Houghton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chassell Tax Rate
0.73%
Average Houghton County Tax Rate
0.94%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chassell, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49916 | 0.46% | 0.59% | 0.73% | 0.96% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Chassell, Michigan
In Chassell, 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 Houghton 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 Chassell, 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 Chassell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Chassell is $155,067, with tax bills ranging from $633 at the 25th percentile to $2,722 at the 90th percentile. The highest and lowest median tax bills are both $1,127, found in zip code 49916.
Average Chassell Assessed Value
$155,067
Average Houghton County Assessed Value
$95,531
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chassell, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49916 | $50,209 | $88,600 | $155,067 | $239,326 | $336,535 |
Source: Ownwell
Property Tax Bills Across Chassell, Michigan
In Chassell, MI, property tax bills are calculated based on the assessed value of the property, which is typically 50% of the market value. For instance, with a median home price of $155,067, the assessed value would be approximately $77,534. The tax rate in Houghton County then applies to this assessed value to determine the tax bill. Several factors influence the tax bill, including property location, size, and any applicable exemptions or deductions. Homeowners in Chassell can expect tax bills varying significantly. At the 25th percentile, tax bills are around $633, while those at the 75th percentile reach $1810, and the 90th percentile can see bills as high as $2722. These figures highlight the range of tax burdens that homeowners might face. Compared to the national median property tax rate of 0.99%, Chassell's tax rates can be quite variable, affecting homeowners differently based on their specific property assessments and applicable tax rates. This variability underscores the importance of understanding local property tax regulations and potential exemptions.
Average Chassell Tax Bill
$1,127
Average Houghton County Tax Bill
$879
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Chassell, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49916 | $385 | $633 | $1,127 | $1,810 | $2,722 |
Source: Ownwell