Comins, Michigan Property Taxes
The median property tax rate in Comins, 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 Comins at $66,000, the typical annual property tax bill amounts to $614, which is significantly below the national median of $2,690. Property taxes in Comins are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Comins' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Comins 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
Comins, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$680
Ownwell’s Comins Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Comins with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Comins 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 Comins, Michigan
Property taxes in Comins, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Comins is 1.03%, which is higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Comins set these rates annually, and they can vary significantly across different neighborhoods. Each year, Comins 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 Comins's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48619 zip code has both the highest and lowest median property tax rate of 1.03%. Understanding how these cities compare with Comins provides valuable insights into the varying tax landscape across Montmorency County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Comins Tax Rate
1.03%
Average Montmorency County Tax Rate
0.88%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Comins, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48619 | 0.48% | 0.69% | 1.03% | 1.37% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across Comins, Michigan
In Comins, 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 Montmorency 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 Comins, 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. The zip code with the highest and lowest median tax bill in Comins is 48619, with a median tax bill of $614. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Comins Assessed Value
$66,000
Average Montmorency County Assessed Value
$94,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Comins, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48619 | $25,000 | $28,300 | $66,000 | $118,400 | $195,680 |
Source: Ownwell
Property Tax Bills Across Comins, Michigan
In Comins, located in Montmorency County, MI, property tax bills are calculated based on the assessed value of the home, which is typically a percentage of the market value. For instance, with a median home price of $66,000, the tax bill can vary significantly. Factors such as local tax rates and any applicable exemptions play a crucial role in determining the final amount. Homeowners in Comins can expect their annual property tax bills to range widely. At the 25th percentile, the tax bill can be as low as $393, while at the 75th percentile, it rises to $998. For those in the 90th percentile, the tax bill can reach up to $1,775. This variability underscores the importance of understanding how local assessments and rates impact the overall tax burden. Compared to the national median property tax rate of 0.99%, the tax bills in Comins reflect localized factors that influence property tax calculations. This can significantly affect homeowners, especially when budgeting for annual expenses.
Average Comins Tax Bill
$614
Average Montmorency County Tax Bill
$728
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Comins, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48619 | $187 | $393 | $614 | $998 | $1,775 |
Source: Ownwell