Gulliver, Michigan Property Taxes
The median property tax rate in Gulliver, MI is 0.39%, significantly lower than both the national median of 0.99% and Michigan's state median of 1.07%. With the median home value in Gulliver at $95,200, the typical annual property tax bill amounts to $339, far below the national median of $2,690. Property taxes in Gulliver 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 Gulliver'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 Gulliver 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
Gulliver, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$371
Ownwell’s Gulliver Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gulliver with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gulliver 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 Gulliver, Michigan
Property taxes in Gulliver, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gulliver is 0.39%, significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Gulliver set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gulliver 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 Gulliver's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate within the region is 1.83%, while the lowest median tax rate is 0.39%. Understanding how these cities compare with Gulliver 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 Gulliver Tax Rate
0.39%
Average Schoolcraft County Tax Rate
0.45%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gulliver, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49840 | 0.21% | 0.28% | 0.39% | 0.45% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Gulliver, Michigan
In Gulliver, 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. 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 Gulliver helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Gulliver, the zip code with the highest and lowest median tax bill is 49840, with a median tax bill of $339.
Average Gulliver Assessed Value
$95,200
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 Gulliver, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49840 | $31,560 | $54,700 | $95,200 | $167,600 | $271,560 |
Source: Ownwell
Property Tax Bills Across Gulliver, Michigan
Property tax bills in Gulliver, located in Schoolcraft County, MI, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value typically represents 50% of the market value of the home. For instance, with a median home price of $95,200, the assessed value would be around $47,600. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions or deductions. In Gulliver, property tax bills vary widely, with the 25th percentile bill at $184 and the 75th percentile reaching $616. The 90th percentile tax bill can go up to $984. The median tax bill in the zip code 49840 is $339, which is significantly lower than the national median property tax rate of 0.99%. These taxes fund essential public services, impacting homeowners by contributing to local infrastructure, schools, and emergency services.
Average Gulliver Tax Bill
$339
Average Schoolcraft County Tax Bill
$504
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Gulliver, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49840 | $96 | $184 | $339 | $616 | $984 |
Source: Ownwell