Manistee, Michigan Property Taxes
The median property tax rate in Manistee, MI is 1.27%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Manistee at $148,000, the typical annual property tax bill reaches $1,845, which is below the national median of $2,690. Property taxes in Manistee 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 Manistee'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 Manistee 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
Manistee, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$1,880
Ownwell’s Manistee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Manistee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Manistee 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 Manistee, Michigan
Property taxes in Manistee, Michigan, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Manistee is 1.27%, which is notably higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Manistee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Manistee 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 Manistee's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49660 has both the highest and lowest median property tax rate of 1.27%. Understanding how these cities compare with Manistee provides valuable insights into the varying tax landscape across Manistee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Manistee Tax Rate
1.27%
Average Manistee County Tax Rate
1.18%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Manistee, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49660 | 0.82% | 0.99% | 1.27% | 1.69% | 2.17% |
Source: Ownwell
Property Tax Assessment Values Across Manistee, Michigan
In Manistee, 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 local 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 Manistee, 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 Manistee is $148,000, with tax bills varying significantly. For instance, the 25th percentile tax bill is $1,264, while the 75th percentile tax bill is $2,918. The highest median tax bill in the area is $1,845, recorded in the 49660 zip code, which also has the lowest median tax bill at the same value. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Manistee Assessed Value
$148,000
Average Manistee County Assessed Value
$141,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Manistee, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49660 | $69,200 | $101,600 | $148,000 | $224,950 | $336,600 |
Source: Ownwell
Property Tax Bills Across Manistee, Michigan
In Manistee, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is typically a percentage of the home's market value, and this figure is then multiplied by the local tax rate to determine the tax bill. For example, with a median home price of $148,000, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. Factors such as property size, location, and any improvements made to the home can influence the assessed value. In Manistee, the tax bill for the 25th percentile is $1,264, while for the 75th percentile, it's $2,918. Homeowners at the 90th percentile face a tax bill of $4,812. These figures show a range of property tax burdens, with the highest median tax bill in the 49660 zip code being $1,845. Compared to the national median property tax rate of 0.99%, Manistee's tax bills reflect a significant but manageable expense for homeowners.
Average Manistee Tax Bill
$1,845
Average Manistee County Tax Bill
$1,612
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Manistee, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49660 | $849 | $1,264 | $1,845 | $2,918 | $4,812 |
Source: Ownwell