Daggett, Michigan Property Taxes
The median property tax rate in Daggett, MI is 0.28%, significantly lower than both the national median of 0.99% and Michigan's state median of 1.07%. With the median home value in Daggett at $88,600, the typical annual property tax bill amounts to $242, well below the national median of $2,690. Property taxes in Daggett are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Daggett's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Daggett or another part of Menominee County, being well-informed about the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Daggett, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.28%
Estimate Property Tax Bill
$248
Ownwell’s Daggett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Daggett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Daggett 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 Daggett, Michigan
Property taxes in Daggett, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Daggett is 1.58%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Daggett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Daggett 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 Daggett's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in the state is 2.78%, while the lowest median tax rate is 0.28%. Understanding how these cities compare with Daggett provides valuable insights into the varying tax landscape across Menominee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Daggett Tax Rate
0.28%
Average Menominee County Tax Rate
0.31%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Daggett, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49821 | 0.14% | 0.19% | 0.28% | 0.38% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Daggett, Michigan
In Daggett, 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 Menominee 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 Daggett, 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 Daggett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Daggett is $88,600, with tax bills ranging from $126 at the 25th percentile to $563 at the 90th percentile. The zip code 49821 holds both the highest and lowest median tax bills at $242.
Average Daggett Assessed Value
$88,600
Average Menominee County Assessed Value
$92,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Daggett, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49821 | $24,040 | $53,800 | $88,600 | $141,200 | $198,880 |
Source: Ownwell
Property Tax Bills Across Daggett, Michigan
In Daggett, located in Menominee County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Daggett stands at $88,600. Homeowners can expect their tax bills to vary significantly, with the 25th percentile tax bill at $126 and the 75th percentile tax bill reaching $396. For those in the 90th percentile, tax bills can go up to $563. These tax bills are influenced by multiple factors, including the assessed value of the property and the local tax rate. The assessed value is typically a percentage of the market value, which is then multiplied by the tax rate to determine the annual tax bill. This system ensures that property taxes are proportionate to the value of the home, thereby impacting homeowners differently based on their property's worth. The highest and lowest median tax bill in Daggett is recorded at $242, reflecting a balanced approach to property taxation in the area.
Average Daggett Tax Bill
$242
Average Menominee County Tax Bill
$274
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Daggett, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49821 | $62 | $126 | $242 | $396 | $563 |
Source: Ownwell