Comins, Michigan Property Taxes
The median property tax rate in Comins, MI is 0.43%, considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Comins at $62,700, the typical annual property tax bill reaches $263, significantly below the national median of $2,690. Property taxes in Comins are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Comins's 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 Oscoda County, 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
0.43%
Estimate Property Tax Bill
$270
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, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Comins is 0.43%, which is lower than 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' effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 48619 has both the highest and lowest median property tax rate of 0.43%. Understanding how these areas compare with Comins provides valuable insights into the varying tax landscape across Oscoda County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Comins Tax Rate
0.43%
Average Oscoda County Tax Rate
0.74%
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 | 0.27% | 0.38% | 0.43% | 0.55% | 0.60% |
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 Oscoda 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. Being aware of these valuation processes in Comins helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 48619 has the highest and lowest median tax bill, both at $263.
Average Comins Assessed Value
$62,700
Average Oscoda County Assessed Value
$55,600
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 | $7,000 | $23,200 | $62,700 | $117,200 | $204,600 |
Source: Ownwell
Property Tax Bills Across Comins, Michigan
In Comins, located in Oscoda County, MI, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, the median home price in Comins is $62,700. Property tax bills vary significantly within the city, with the 25th percentile tax bill at $107 and the 75th percentile reaching $495. The 90th percentile tax bill can be as high as $856. Several factors influence these tax bills, including the home’s market value, the local tax rate, and any applicable exemptions or abatements. Homeowners in Comins should be aware that their property tax bill can have a significant impact on their annual expenses. For comparison, the national median property tax rate is 0.99%, which can help homeowners gauge how their local tax rate measures up. Understanding these elements is crucial for effective financial planning and management for homeowners in Comins.
Average Comins Tax Bill
$263
Average Oscoda County Tax Bill
$412
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 | $22 | $107 | $263 | $495 | $856 |
Source: Ownwell