North Street, St. Clair County, Michigan Property Taxes
The median property tax rate in North Street, MI is 0.58%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in North Street, the typical annual property tax bill reaches $1,209, well below the national median of $2,690. Property taxes in North Street 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 North Street'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 North Street 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
North Street, St. Clair County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$1,182
$1,097
Ownwell’s North Street Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Street with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Street 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 North Street, St. Clair County, Michigan
Property taxes in NORTH STREET, Michigan, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in NORTH STREET is 0.58%, which is lower than the U.S. national median of 0.99%. Local government entities within NORTH STREET set these rates annually, and they can vary significantly across different neighborhoods. Each year, NORTH STREET 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 NORTH STREET's effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 48049 has both the highest and the lowest median property tax rate of 0.58%. Understanding how these areas compare with NORTH STREET 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 North Street Tax Rate
0.58%
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 North Street, St. Clair County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48049 | 0.32% | 0.48% | 0.58% | 0.72% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across North Street, St. Clair County, Michigan
In North Street, 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 North Street, 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. For instance, the highest median tax bill in the area is $1209 in the 48049 zip code. 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 North Street helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across North Street, St. Clair County, Michigan
Source: Ownwell
$35,200
$161,900
$288,600
Average North Street Assessed Value
$203,800
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 North Street, St. Clair County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48049 | $121,160 | $165,600 | $203,800 | $265,000 | $347,640 |
Source: Ownwell
Property Tax Bills Across North Street, St. Clair County, Michigan
In North Street, located in St. Clair County, MI, property tax bills are calculated based on the assessed value of a home, which is typically 50% of its market value. For instance, with a median home price of $203,800, the assessed value would be approximately $101,900. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the home's market value, local tax rates, and any applicable exemptions. Homeowners in North Street can see a wide range in their tax bills, from the 25th percentile at $799 to the 90th percentile at $2,572. This variation highlights the impact of property values and local tax policies on individual tax liabilities. Compared to the national median property tax rate of 0.99%, North Street's tax rates can significantly affect homeowners, making it crucial for them to understand how their property is assessed and to explore any potential exemptions to reduce their tax burden.
Average North Street Tax Bill
$1,209
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 North Street, St. Clair County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48049 | $401 | $799 | $1,209 | $1,770 | $2,572 |
Source: Ownwell