Remus, Michigan Property Taxes
The median property tax rate in Remus, MI is 1.03%, slightly higher than the national median of 0.99% but lower than the Michigan state median of 1.07%. With the median home value in Remus at $122,400, the typical annual property tax bill reaches $1,243, which is below the national median of $2,690. Property taxes in Remus 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 Remus'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 Remus 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
Remus, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$1,261
$1,170
Ownwell’s Remus Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Remus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Remus 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 Remus, Michigan
Property taxes in Remus, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Remus is 1.03%, which is higher than the U.S. national median of 0.99%. Local government entities within Remus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Remus 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 Remus's effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 49340 has the highest median property tax rate of 1.03%, while the same zip code also has the lowest median tax rate of 1.03%. Understanding how these areas compare with Remus 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 Remus Tax Rate
1.03%
Average Isabella County Tax Rate
0.80%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Remus, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49340 | 0.62% | 0.81% | 1.03% | 1.36% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across Remus, Michigan
In Remus, 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 Remus, 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 Remus helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Remus is $122,400, with the highest median tax bill being $1,243 in zip code 49340.
Average Remus Assessed Value
$122,400
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 Remus, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49340 | $45,800 | $74,400 | $122,400 | $198,400 | $283,080 |
Source: Ownwell
Property Tax Bills Across Remus, Michigan
In Remus, MI, property tax bills are calculated based on the assessed value of a home, which is typically half of the market value. For example, with a median home price of $122,400, the assessed value would be around $61,200. The tax rate is applied to this assessed value to determine the annual tax bill. Several factors contribute to the final tax bill, including local government budgets, school district funding needs, and specific property exemptions. Homeowners in Remus can expect their property tax bills to vary. The 25th percentile tax bill is around $829, while the 75th percentile reaches up to $1965, and the 90th percentile can be as high as $2782. Compared to the national median property tax rate of 0.99%, homeowners in Remus experience a range of tax burdens that reflect local funding requirements and property values. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Remus Tax Bill
$1,243
Average Isabella County Tax Bill
$1,118
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Remus, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49340 | $574 | $829 | $1,243 | $1,965 | $2,782 |
Source: Ownwell