Rose City, Michigan Property Taxes
The median property tax rate in Rose City, MI is 0.91%, slightly below the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $51,250 in Rose City, the typical annual property tax bill is $524, which is significantly lower than the national median of $2,690. Property taxes in Rose City are calculated based on the assessed value, which is often less than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Rose City'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 Rose City 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
Rose City, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$466
Ownwell’s Rose City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rose City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rose City 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 Rose City, Michigan
Property taxes in Rose City, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rose City is 0.91%, which is slightly below the U.S. national median of 0.99%. Local government entities within Rose City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rose City 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 Rose City's effective property tax rate to other areas in Ogemaw County and the national median. For comparison, the 48654 zip code has both the highest and lowest median property tax rate of 0.91%, matching Rose City's rate. Understanding how these areas compare with Rose City provides valuable insights into the varying tax landscape across Ogemaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rose City Tax Rate
0.91%
Average Ogemaw County Tax Rate
0.91%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rose City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48654 | 0.68% | 0.79% | 0.91% | 1.04% | 2.02% |
Source: Ownwell
Property Tax Assessment Values Across Rose City, Michigan
In Rose City, 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 Ogemaw 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 Rose City, 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 Rose City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Rose City are both $524.00, with the zip code 48654.
Average Rose City Assessed Value
$51,250
Average Ogemaw County Assessed Value
$47,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rose City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48654 | $18,890 | $31,650 | $51,250 | $80,975 | $113,670 |
Source: Ownwell
Property Tax Bills Across Rose City, Michigan
In Rose City, located in Ogemaw County, MI, property tax bills are determined based on the assessed value of a home, which is typically a percentage of the market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. For instance, with a median home price of $51,250, homeowners can expect their property tax bills to vary significantly. The 25th percentile tax bill is $288, while the 75th percentile tax bill reaches $803, and the 90th percentile tax bill can go up to $1,151. Several factors influence these tax bills, including the property's location, size, and any applicable exemptions. The highest and lowest median tax bills in Rose City are both recorded at $524 within the 48654 zip code, reflecting a relatively consistent tax rate across the region. Compared to the national median property tax rate of 0.99%, Rose City's tax rates can be quite favorable, potentially easing the financial burden on homeowners and influencing their decisions regarding property investments.
Average Rose City Tax Bill
$524
Average Ogemaw County Tax Bill
$466
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Rose City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48654 | $157 | $288 | $524 | $803 | $1,151 |
Source: Ownwell