Buckley, Michigan Property Taxes
The median property tax rate in Buckley, MI is 1.16%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Buckley at $199,300, the typical annual property tax bill reaches $1,985, which is below the national median of $2,690. Property taxes in Buckley 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 Buckley'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 Buckley or another part of Wexford County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Buckley, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$2,312
Ownwell’s Buckley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Buckley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Buckley 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 Buckley, Michigan
Property taxes in Buckley, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Buckley is 1.16%, significantly higher than the U.S. national median of 0.99%. Local government entities within Buckley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Buckley 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 Buckley's effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 49620 has the highest median property tax rate of 1.16%, while the lowest median tax rate is also found in the same zip code at 1.16%. Understanding how these areas compare with Buckley provides valuable insights into the varying tax landscape across Wexford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Buckley Tax Rate
1.16%
Average Wexford County Tax Rate
1.72%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buckley, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49620 | 0.71% | 0.86% | 1.16% | 1.48% | 1.99% |
Source: Ownwell
Property Tax Assessment Values Across Buckley, Michigan
In Buckley, 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 Wexford 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 Buckley, 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 example, the median home price in Buckley is $199,300. Tax bills vary significantly, with the 25th percentile at $1,429 and the 75th percentile at $2,606. The highest and lowest median tax bills are both $1,985 in zip code 49620. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Buckley Assessed Value
$199,300
Average Wexford County Assessed Value
$108,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buckley, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49620 | $39,400 | $108,550 | $199,300 | $236,200 | $306,300 |
Source: Ownwell
Property Tax Bills Across Buckley, Michigan
In Buckley, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate, determined by the county and municipal authorities, is then applied to this assessed value. For instance, with a median home price of $199,300, homeowners can expect varying tax bills depending on specific assessments and exemptions. Several factors influence the final tax bill, including the home's location within Wexford County and any applicable exemptions or deductions. For example, tax bills in Buckley range significantly, with the 25th percentile at $1,429 and the 75th percentile at $2,606. The 90th percentile can see tax bills as high as $3,292. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and public safety. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding how local rates and assessments measure up.
Average Buckley Tax Bill
$1,985
Average Wexford County Tax Bill
$1,919
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Buckley, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49620 | $729 | $1,429 | $1,985 | $2,606 | $3,292 |
Source: Ownwell