Clay, Michigan Property Taxes
The median property tax rate in Clay, MI is 0.70%, notably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $215,400 in Clay, the typical annual property tax bill amounts to $1,769, which is also below the national median of $2,690. Property taxes in Clay 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 Clay'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 Clay 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
Clay, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$1,508
Ownwell’s Clay Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clay with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clay 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 Clay, Michigan
Property taxes in Clay, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clay is 1.54%, significantly higher than both the Michigan state median of 1.31% and the U.S. national median of 0.99%. Local government entities within Clay set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clay 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 Clay's effective property tax rate to other counties in Michigan and the national median. For comparison, 48001 has the highest median property tax rate of 1.54%, while 48001 also has the lowest median tax rate of 1.54%. Understanding how these cities compare with Clay provides valuable insights into the varying tax landscape across St. Clair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clay Tax Rate
0.70%
Average St. Clair County Tax Rate
0.78%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clay, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48001 | 0.54% | 0.60% | 0.70% | 0.96% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Clay, Michigan
In Clay, 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 St. Clair 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 Clay, 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 Clay helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,769 in the 48001 zip code, which is also the lowest median tax bill.
Average Clay Assessed Value
$215,400
Average St. Clair County Assessed Value
$181,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clay, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48001 | $2,000 | $136,800 | $215,400 | $320,650 | $424,600 |
Source: Ownwell
Property Tax Bills Across Clay, Michigan
In Clay, located in St. Clair County, MI, property tax bills are determined by several key factors. The primary factor is the assessed value of a home, which is typically a percentage of the market value. For example, with a median home price of $215,400, homeowners can expect their property tax to be a percentage of this value. The tax rate in Clay is influenced by local government budgets, school funding needs, and other municipal services. Homeowners in Clay see a range of tax bills, with the 25th percentile at $1,092 and the 75th percentile reaching $2,635. The 90th percentile tax bill can be as high as $3,667. Comparatively, the national median property tax rate stands at 0.99%, so homeowners in Clay may find their tax bills varying based on the assessed value and local tax rates. This range of tax bills can significantly impact household budgets, influencing decisions on homeownership and long-term financial planning.
Average Clay Tax Bill
$1,769
Average St. Clair County Tax Bill
$1,504
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Clay, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48001 | $726 | $1,092 | $1,769 | $2,635 | $3,667 |
Source: Ownwell