Mussey, Michigan Property Taxes
The median property tax rate in Mussey, MI is 0.36%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Mussey at $232,500, the typical annual property tax bill is $847, well below the national median of $2,690. Property taxes in Mussey are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mussey'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 Mussey 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
Mussey, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$837
Ownwell’s Mussey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mussey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mussey 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 Mussey, Michigan
Property taxes in Mussey, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mussey is 1.54%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Mussey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mussey 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 Mussey's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48041 zip code has the highest median property tax rate of 1.54%, while the 48041 zip code has the lowest median tax rate of 1.54%. Understanding how these cities compare with Mussey 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 Mussey Tax Rate
0.36%
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 Mussey, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48014 | 0.29% | 0.32% | 0.36% | 0.45% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Mussey, Michigan
In Mussey, 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. 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 Mussey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 48014, with a median tax bill of $847.
Average Mussey Assessed Value
$232,500
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 Mussey, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48014 | $122,600 | $173,300 | $232,500 | $286,450 | $355,240 |
Source: Ownwell
Property Tax Bills Across Mussey, Michigan
In Mussey, property tax bills are determined based on the assessed value of a property, which is typically set at 50% of the market value. For instance, with a median home price of $232,500, the assessed value would be $116,250. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. In Mussey, homeowners can expect tax bills to vary significantly. The 25th percentile tax bill is around $647, while the 75th percentile reaches up to $1136, and the 90th percentile can go as high as $1506. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Mussey’s tax rates reflect the specific needs and budgetary requirements of St. Clair County, ensuring that local services are adequately supported.
Average Mussey Tax Bill
$847
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 Mussey, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48014 | $436 | $647 | $847 | $1,136 | $1,506 |
Source: Ownwell