Mears, Michigan Property Taxes
The median property tax rate in Mears, Michigan is 1.12%, notably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Mears at $218,800, the typical annual property tax bill reaches $2,250, slightly below the national median of $2,690. Property taxes in Mears are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mears' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Mears or another part of Oceana County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mears, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$2,451
Ownwell’s Mears Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mears with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mears 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 Mears, Michigan
Property taxes in Mears, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mears is 1.12%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Mears set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mears 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 Mears' effective property tax rate to other areas in Michigan and the national median. For comparison, the 49436 zip code has both the highest and lowest median property tax rate of 1.12%. Understanding how these areas compare with Mears provides valuable insights into the varying tax landscape across Oceana County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mears Tax Rate
1.12%
Average Oceana County Tax Rate
1.08%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mears, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49436 | 0.59% | 0.80% | 1.12% | 1.59% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Mears, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mears, 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 Oceana 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 Mears, 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. For instance, the median home price in Mears is $218,800, with tax bills ranging significantly. Homeowners in the 25th percentile pay around $1,291, while those in the 75th percentile pay approximately $3,853, and the 90th percentile sees tax bills as high as $6,287. The highest and lowest median tax bills are both $2,250 in the zip code 49436. By understanding these valuation concepts, property owners can better navigate their tax responsibilities, identify opportunities for protesting assessments, or apply for exemptions to effectively manage their tax burden.
Average Mears Assessed Value
$218,800
Average Oceana County Assessed Value
$154,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mears, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49436 | $75,920 | $120,600 | $218,800 | $340,500 | $504,680 |
Source: Ownwell
Property Tax Bills Across Mears, Michigan
In Mears, located in Oceana County, MI, property tax bills are calculated based on the assessed value of a home, which is typically 50% of its market value. For a median-priced home valued at $218,800, homeowners can expect an assessed value of approximately $109,400. The property tax rate in Mears is applied to this assessed value to determine the annual tax bill. Factors that influence the tax bill include local government budgets, school funding needs, and public service requirements. Homeowners in Mears experience a range of property tax bills. At the 25th percentile, the tax bill is around $1,291, while at the 75th percentile, it rises to $3,853. The highest tax bills, at the 90th percentile, can reach up to $6,287. Compared to the national median property tax rate of 0.99%, Mears' property tax rates can significantly impact homeowners, influencing their financial planning and housing affordability. The highest and lowest median tax bills in the area are both $2,250, indicating a relatively consistent tax burden across different properties.
Average Mears Tax Bill
$2,250
Average Oceana County Tax Bill
$1,632
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Mears, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49436 | $748 | $1,291 | $2,250 | $3,853 | $6,287 |
Source: Ownwell