Cedarville, Michigan Property Taxes
The median property tax rate in Cedarville, MI is 1.05%, slightly higher than the national median of 0.99% but below the Michigan state median of 1.07%. With the median home value in Cedarville at $193,400, the typical annual property tax bill reaches $2,039, which is lower than the national median of $2,690. Property taxes in Cedarville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Cedarville'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 Cedarville or another part of Mackinac County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cedarville, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$2,031
Ownwell’s Cedarville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cedarville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cedarville 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 Cedarville, Michigan
Property taxes in Cedarville, Michigan, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Cedarville is 1.05%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Cedarville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cedarville 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 Cedarville's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49719 zip code has the highest median property tax rate of 1.05%, while the 49719 zip code also has the lowest median tax rate of 1.05%. Understanding how these areas compare with Cedarville provides valuable insights into the varying tax landscape across Mackinac County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cedarville Tax Rate
1.05%
Average Mackinac County Tax Rate
0.81%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cedarville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49719 | 0.64% | 0.80% | 1.05% | 1.44% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Cedarville, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cedarville, Michigan. 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 Mackinac 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 Cedarville, 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. For instance, Cedarville's highest median tax bill is found in zip code 49719, amounting to $2,039. By being aware of these valuation processes, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cedarville Assessed Value
$193,400
Average Mackinac County Assessed Value
$123,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cedarville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49719 | $57,360 | $110,100 | $193,400 | $328,000 | $533,400 |
Source: Ownwell
Property Tax Bills Across Cedarville, Michigan
Property tax bills in Cedarville, located in Mackinac County, MI, are calculated based on the assessed value of a property, which is typically a percentage of its market value. For instance, the median home price in Cedarville is $193,400. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, impacting the final tax bill. Homeowners in Cedarville experience a range of property tax bills. At the 25th percentile, the tax bill is around $1,032, while at the 75th percentile, it rises to $3,760. The 90th percentile sees tax bills as high as $5,832. Comparatively, the highest and lowest median tax bills in the area are both $2,039, indicating a relatively uniform distribution within the zip code 49719. Understanding these factors helps homeowners anticipate their annual property tax obligations and better manage their financial planning.
Average Cedarville Tax Bill
$2,039
Average Mackinac County Tax Bill
$942
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Cedarville, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49719 | $552 | $1,032 | $2,039 | $3,760 | $5,832 |
Source: Ownwell