Cold Creek, Schoolcraft County, Michigan Property Taxes

Name: Property Tax Bills Across Cold Creek, Schoolcraft County, Michigan
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Cold Creek, MI effective property tax rate: 1.19%, significantly higher than the national median of 1.02%, and higher than the Michigan state median of 1.05%.
Median Cold Creek, MI home value: $114,200
Median annual Cold Creek, MI tax bill: $1,258, $1,142 lower than the national median property tax bill of $2,400.

How are property taxes in Schoolcraft calculated?

Property taxes in Cold Creek, MI are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Cold Creek's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Cold Creek, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Cold Creek, Schoolcraft County, Michigan Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.19%

Estimate Property Tax Bill

$1,359

$1,261

Ownwell’s Cold Creek Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cold Creek with just two data points. By entering your property's estimated assessed value, our calculator applies Cold Creek’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Schoolcraft County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Cold Creek, Schoolcraft County, Michigan

Local government entities determine tax rates, which can vary significantly even within a single state. This variation occurs because each county annually assesses its budgetary needs to provide essential services. The total budget is then divided by the cumulative value of all taxable properties in the area, resulting in the property tax rate. Although votes and regulations play a role in setting these rates and budgets, this is essentially the yearly process.

In Cold Creek, located in Schoolcraft County, Michigan, the effective property tax rate is higher than the county's median. The median property tax rate in Michigan stands at 1.19%, which is above the national median of 1.02%. This means residents of Cold Creek may find their property tax rates to be more burdensome compared to the national average. However, they contribute to funding local services that maintain and improve the community. Understanding these rates and how they compare to state and national medians can help property owners make informed decisions about their investments and potential tax savings.

Property Tax Rates Across Cold Creek, Schoolcraft County, Michigan

Source: Ownwell

0.68%

1.04%

1.41%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Cold Creek Tax Rate

1.19%

Median Effective Schoolcraft County Tax Rate

1.00%

Median Effective Michigan Tax Rate

1.05%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Cold Creek, Schoolcraft County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile

Source: Ownwell

Property Tax Assessment Values Across Cold Creek, Schoolcraft County, Michigan

When examining property taxes in Cold Creek, Michigan, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Schoolcraft County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: In Schoolcraft County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Cold Creek. For example, the median home price in Cold Creek is $114,200, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Cold Creek, Schoolcraft County, Michigan

Source: Ownwell

$87,200

$208,800

$330,400

Median Cold Creek Market Value

$114,200

Median Schoolcraft County Market Value

$118,200

Median Michigan Market Value

$213,740

Median United States Market Value

$235,294

Property Tax Assessment Values Across Cold Creek, Schoolcraft County, Michigan

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile

Source: Ownwell

Property Tax Bills Across Cold Creek, Schoolcraft County, Michigan

In Cold Creek, Schoolcraft County, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Cold Creek, the median home price is $114,200, which is below the national median. Consequently, property tax bills here can be more manageable, with the 25th percentile at $905, the 75th percentile at $1,341, and the 90th percentile reaching $1,700. These figures are notably lower than the national median property tax bill of $2,400.

Factors such as changes in property value and local tax rates can influence tax bills, potentially increasing the financial burden on homeowners. This is where Ownwell can assist by offering property tax appeal and exemption services. By leveraging expertise in local tax laws and valuations, Ownwell can help homeowners in Cold Creek potentially reduce their property tax bills, ensuring they pay only what is fair and equitable.

Property Tax Bills Across Cold Creek, Schoolcraft County, Michigan

Source: Ownwell

$857

$2,052

$3,247

Median Cold Creek Tax Bill

$1,258

Median Schoolcraft County Tax Bill

$1,214

Median Michigan Tax Bill

$2,084

Median United States Tax Bill

$2,400

Property Tax Bills Across Cold Creek, Schoolcraft County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile

Source: Ownwell