Smith, Schoolcraft County, Michigan Property Taxes

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

Median SMITH, MI effective property tax rate: 0.44%, significantly lower than the national median of 1.02%, but lower than the MI state median of 1.07%.
Median SMITH, MI home value: $41,000
Median annual SMITH, MI tax bill: $181, $2,219 lower than the national median property tax bill of $2,400.

How are property taxes in Schoolcraft calculated?

Property taxes in SMITH, 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 SMITH’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in SMITH, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Smith, Schoolcraft County, Michigan Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.71%

Estimate Property Tax Bill

$1,810

$1,679

Ownwell’s SMITH Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in SMITH with just two data points. By entering your property's estimated assessed value, our calculator applies SMITH’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. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Smith, Schoolcraft County, Michigan

Local government entities are responsible for setting tax rates, which can vary significantly within a state. This variation arises because each county, such as Schoolcraft, estimates its annual budget needs for services and divides this by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is essentially the yearly process. In Smith, located in Schoolcraft County, Michigan, the effective property tax rate stands at 0.44%. This rate is significantly lower than the national median property tax rate of 1.02%. Such a comparison highlights the relatively low property tax burden in Smith compared to many other areas. Understanding these differences in tax rates can provide valuable insights for property owners and prospective buyers when considering the financial implications of real estate investments.

Property Tax Rates Across Smith, 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 Smith Tax Rate

0.71%

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 Smith, Schoolcraft County, Michigan

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

Source: Ownwell

Property Tax Assessment Values Across Smith, Schoolcraft County, Michigan

When examining property taxes in SMITH, MI, 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 Equalization Department 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.

In Schoolcraft County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 SMITH. For example, the median home price in SMITH is $41,000, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Smith, Schoolcraft County, Michigan

Source: Ownwell

$87,200

$208,800

$330,400

Median Smith Market Value

$254,900

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 Smith, Schoolcraft County, Michigan

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

Source: Ownwell

Property Tax Bills Across Smith, Schoolcraft County, Michigan

In Smith, located in Schoolcraft County, Michigan, property tax bills are determined by assessing the property's value and applying the local tax rate. The assessed value is typically a percentage of the market value, and the local tax rate is applied to this assessed value to calculate the property tax bill. In Smith, the median property tax bill is $181, which is significantly lower than the national median of $2,400. This lower tax bill can be attributed to the median home price of $41,000 in the area. Homeowners in Smith benefit from these lower tax bills, but they must still ensure that their property is assessed accurately to avoid overpaying. Ownwell can assist homeowners in Smith by reviewing their property assessments and filing appeals if necessary. By leveraging our expertise, homeowners can potentially reduce their tax bills and ensure they are not paying more than their fair share. This service can lead to significant savings, providing homeowners with peace of mind and financial relief.

Property Tax Bills Across Smith, Schoolcraft County, Michigan

Source: Ownwell

$857

$2,052

$3,247

Median Smith Tax Bill

$1,616

Median Schoolcraft County Tax Bill

$1,214

Median Michigan Tax Bill

$2,084

Median United States Tax Bill

$2,400

Property Tax Bills Across Smith, Schoolcraft County, Michigan

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

Source: Ownwell