Alva, Michigan Property Taxes
The median property tax rate in Alva, MI is 0.37%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Alva being $57,400, the typical annual property tax bill is $211, well below the national median of $2,690. Property taxes in Alva are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Alva'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 Alva or another part of Schoolcraft County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alva, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.37%
Estimate Property Tax Bill
$212
Ownwell’s ALVA Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in ALVA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ALVA 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 Alva, Michigan
Property taxes in Alva, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alva is 1.73%, significantly higher than both the Michigan state median of 1.31% and the U.S. national median of 0.99%. Local government entities within Alva set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alva 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 Alva's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49968 has the highest median property tax rate of 2.12%, while zip code 49971 has the lowest median tax rate of 0.85%. Understanding how these cities compare with Alva provides valuable insights into the varying tax landscape across Schoolcraft County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alva Tax Rate
0.37%
Average Schoolcraft County Tax Rate
0.45%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alva, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33920 | 0.37% | 0.37% | 0.37% | 0.37% | 0.37% |
Source: Ownwell
Property Tax Assessment Values Across Alva, Michigan
In Alva, 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 Schoolcraft 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 Alva, 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 Alva helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Alva are both $211, found in the 33920 zip code.
Average Alva Assessed Value
$57,400
Average Schoolcraft County Assessed Value
$86,700
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alva, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33920 | $57,400 | $57,400 | $57,400 | $57,400 | $57,400 |
Source: Ownwell
Property Tax Bills Across Alva, Michigan
In Alva, located in Schoolcraft County, MI, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the home, and this value is then multiplied by the local tax rate to determine the tax bill. For example, with a median home price of $57,400, the property tax rate in Alva is consistent, leading to a median tax bill of $211. This figure is notably lower than the national median property tax rate of 0.99%. Several factors influence the assessed value, including the property's location, size, and condition. Homeowners in Alva benefit from relatively low property tax bills, which can make homeownership more affordable compared to other regions. Understanding how these taxes are calculated helps homeowners budget effectively and plan for annual expenses. The uniformity of the tax bills in Alva, with values at the 25th, 75th, and 90th percentiles all at $211, indicates a stable and predictable tax environment for residents.
Average Alva Tax Bill
$211
Average Schoolcraft County Tax Bill
$504
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Alva, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33920 | $211 | $211 | $211 | $211 | $211 |
Source: Ownwell