Roscommon, Michigan Property Taxes
The median property tax rate in Roscommon, Michigan is 0.78%, which is considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $127,000 in Roscommon, the typical annual property tax bill is $847, significantly less than the national median of $2,690. Property taxes in Roscommon are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Roscommon'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 Roscommon 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
Roscommon, Michigan Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$2,140
Ownwell’s Roscommon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Roscommon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Roscommon 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 Roscommon, Michigan
Property taxes in Roscommon, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Roscommon is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Roscommon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Roscommon 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 Roscommon's effective property tax rate to the national median. For comparison, the zip code 48653 has a median property tax rate of 0.78%, which is consistent across the area. Understanding how these cities compare with Roscommon provides valuable insights into the varying tax landscape across Roscommon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Roscommon Tax Rate
0.78%
Average Roscommon County Tax Rate
0.50%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Roscommon, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48653 | 0.33% | 0.40% | 0.78% | 1.04% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Roscommon, Michigan
In Roscommon, 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 local authorities 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 Roscommon, 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 Roscommon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills are both $847 in the 48653 zip code, providing a consistent benchmark for residents.
Average Roscommon Assessed Value
$127,000
Average Roscommon County Assessed Value
$114,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Roscommon, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48653 | $46,200 | $77,600 | $127,000 | $211,050 | $515,840 |
Source: Ownwell
Property Tax Bills Across Roscommon, Michigan
In Roscommon, MI, property tax bills are calculated based on the assessed value of a home, which is typically 50% of the property's market value. For a median home price of $127,000, the assessed value would be approximately $63,500. The property tax rate in Roscommon County is then applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including local tax rates, school district levies, and any applicable exemptions or deductions. Homeowners in Roscommon can expect their tax bills to vary significantly. The 25th percentile tax bill is around $489, while those in the 75th percentile pay about $1509. At the higher end, the 90th percentile tax bill reaches up to $3429. The highest and lowest median tax bills in the area are both $847, found in the 48653 zip code. Compared to the national median property tax rate of 0.99%, Roscommon’s rates are relatively moderate, which can be beneficial for homeowners looking for affordability.
Average Roscommon Tax Bill
$847
Average Roscommon County Tax Bill
$649
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Roscommon, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48653 | $279 | $489 | $847 | $1,509 | $3,429 |
Source: Ownwell