Edmore, Michigan Property Taxes
The median property tax rate in Edmore, MI is 1.12%, which is considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Edmore at $64,000, the typical annual property tax bill reaches $596, still below the national median of $2,690. Property taxes in Edmore 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 Edmore'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 Edmore 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
Edmore, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$717
$665
Ownwell’s Edmore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Edmore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Edmore 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 Edmore, Michigan
Property taxes in Edmore, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Edmore is 1.12%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Edmore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edmore 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 Edmore's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48829 zip code has the highest median property tax rate of 1.12%, while the 48829 zip code also has the lowest median tax rate of 1.12%. Understanding how these cities compare with Edmore provides valuable insights into the varying tax landscape across Isabella County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edmore Tax Rate
1.12%
Average Isabella County Tax Rate
0.80%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edmore, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48829 | 0.64% | 0.75% | 1.12% | 1.18% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Edmore, Michigan
In Edmore, 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 Isabella 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 Edmore, 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. The median home price in Edmore is $64,000, with tax bills ranging from $447 at the 25th percentile to $3,061 at the 90th percentile. The zip code 48829 has the highest and lowest median tax bill, both at $596. 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 Edmore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Edmore Assessed Value
$64,000
Average Isabella County Assessed Value
$140,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Edmore, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48829 | $36,760 | $47,800 | $64,000 | $202,000 | $268,160 |
Source: Ownwell
Property Tax Bills Across Edmore, Michigan
In Edmore, located in Isabella County, MI, property tax bills are calculated based on the assessed value of a home, which is typically 50% of its market value. For a median home price of $64,000, the assessed value would be $32,000. The tax rate is then applied to this assessed value to determine the tax bill. Factors influencing the tax bill include local government budgets, school district funding needs, and specific levies or exemptions that may apply. For homeowners, this means that the amount they owe in property taxes can vary widely. In Edmore, the 25th percentile tax bill is $447, while the 75th percentile tax bill is $2,210, and the 90th percentile reaches $3,061. Compared to the national median property tax rate of 0.99%, Edmore's tax rates can be quite variable, affecting homeowners differently depending on the assessed value of their property and the specific tax rate applied by local authorities. This variability underscores the importance of understanding local property tax assessments and potential exemptions.
Average Edmore Tax Bill
$596
Average Isabella County Tax Bill
$1,118
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Edmore, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48829 | $303 | $447 | $596 | $2,210 | $3,061 |
Source: Ownwell