Mount Pleasant, Michigan Property Taxes
The median property tax rate in Mount Pleasant, MI is 0.46%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Mount Pleasant at $77,200, the typical annual property tax bill is $328, well below the national median of $2,690. Property taxes in Mount Pleasant are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Mount Pleasant'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 Mount Pleasant 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
Mount Pleasant, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$355
Ownwell’s Mount Pleasant Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Pleasant with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Pleasant 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 Mount Pleasant, Michigan
Property taxes in Mount Pleasant, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Pleasant is 1.62%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Mount Pleasant set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Pleasant 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 Mount Pleasant's effective property tax rate to other counties in Michigan and the national median. For comparison, the ZIP code 48858 has the highest median property tax rate of 1.62%, while the same ZIP code 48858 also has the lowest median tax rate of 1.62%. Understanding how these cities compare with Mount Pleasant 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 Mount Pleasant Tax Rate
0.46%
Average Midland County Tax Rate
0.54%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Pleasant, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48858 | 0.33% | 0.40% | 0.46% | 0.52% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Mount Pleasant, Michigan
In Mount Pleasant, 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 Midland 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 Mount Pleasant, 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 Mount Pleasant helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price is $77,200, with tax bills ranging from the 25th percentile at $213 to the 90th percentile at $1,002. The highest and lowest median tax bills are both $328 in the 48858 zip code.
Property Tax Assessment Values Across Mount Pleasant, Michigan
Source: Ownwell
$77,200
$126,100
$175,000
Average Mount Pleasant Assessed Value
$77,200
Average Midland County Assessed Value
$158,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Pleasant, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48858 | $25,960 | $49,700 | $77,200 | $122,400 | $202,200 |
Source: Ownwell
Property Tax Bills Across Mount Pleasant, Michigan
In Mount Pleasant, MI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value typically represents a percentage of the property's market value. For instance, with a median home price of $77,200, the assessed value forms the basis for the tax calculation. Property tax rates in Mount Pleasant are applied to this assessed value to determine the annual tax bill. Several factors influence the final tax amount, including local tax rates, applicable exemptions, and specific levies for services like schools and infrastructure. Homeowners in Mount Pleasant see tax bills ranging from the 25th percentile at $213 to the 90th percentile at $1,002. The median tax bill stands at $328, which is relatively lower than the national median property tax rate of 0.99%. This lower tax burden can make homeownership more affordable in Mount Pleasant, positively impacting the local housing market and homeowners' financial planning.
Average Mount Pleasant Tax Bill
$328
Average Midland County Tax Bill
$1,273
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Pleasant, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48858 | $119 | $213 | $328 | $532 | $1,002 |
Source: Ownwell