Tax Comparison: Belmond, IA vs Sterling heights, MI
Understanding Your Tax Burden
This page compares the three main types of taxes between Belmond, IA and Sterling heights, MI: property tax, income tax, and sales tax. Each of these has a different impact on your overall cost of living.
Property Tax Comparison
Property taxes are collected by local governments and used to fund schools, infrastructure, and other local services. They're typically based on the assessed value of your property.
Our property tax estimates are based on:
- U.S. median home value: $419,200 (2023 data)
- Local effective tax rates for both cities
Belmond, IA
$6,471
Based on a $419,200 home
Rate: 1.5437%
Sterling heights, MI
$5,966
Based on a $419,200 home
Rate: 1.4231%
| Data | Belmond, IA | Sterling heights, MI |
|---|---|---|
| Effective Property Tax Rate | 1.5437% | 1.4231% |
| Estimated Property Tax | $6,471 | $5,966 |
| Home Value Used | $419,200 | $419,200 |
Comparison: Property taxes in Sterling heights, MI are $506 lower than in Belmond, IA for the same home value.
State Income Tax Comparison
Income tax rates and brackets vary by state, impacting residents' overall tax burden. The estimates below are based on standard deductions and typical filing scenarios.
Our income tax estimates consider:
- Single filer: $100,000 annual income
- Married couple: $200,000 combined income
- Median income: $80,600 annual income
IA
4.4%-5.7%
Single: $3,800
Married: $6,840
MI
4.25%
Single: $4,250
Married: $7,650
| Data | IA | MI |
|---|---|---|
| Tax Rate | 4.4%-5.7% | 4.25% |
| Single Filer ($100k) | $3,800 | $4,250 |
| Married Couple ($200k) | $6,840 | $7,650 |
| Median Income ($80.6k) | $3,061 | $3,424 |
Comparison: Income taxes in IA are $363 lower than in MI for the median household income.
Sales Tax Comparison
Sales tax rates vary by location and can have a significant impact on your day-to-day expenses. These include state, county, city, and special district taxes that together form the total sales tax rate.
Our sales tax estimates consider:
- Average household taxable spending: $15,500 per year
- Combined state and local rates for both cities
Belmond, IA
8.000%
Combined rate
Annual sales tax: $1240
(Based on $15,500 spending)
Sterling heights, MI
6.000%
Combined rate
Annual sales tax: $930
(Based on $15,500 spending)
| Data | Belmond, IA | Sterling heights, MI |
|---|---|---|
| State Sales Tax | 6.00% | 6.00% |
| Combined Sales Tax | 8.000% | 6.000% |
| Annual Tax Amount | $1,240 | $930 |
Comparison: Shopping in Sterling heights, MI costs $310 less in annual sales tax than in Belmond, IA for the average household.
Tax Comparison Insights
Tax Insights: Belmond vs Sterling heights
- Property Tax: Sterling heights has a 0.1206 percentage points lower effective property tax rate than Belmond.
- Income Tax: Living in IA could save you approximately $363 in state income taxes for a median household income.
- Sales Tax: The combined sales tax rate in Sterling heights is 2.00 percentage points lower than in Belmond.
Overall Tax Burden Comparison
Belmond, IA
$10,772
Combined annual tax burden
Property
$6,471
Income
$3,061
Sales
$1,240
Sterling heights, MI
$10,319
Combined annual tax burden
Property
$5,966
Income
$3,424
Sales
$930
Overall Comparison: Sterling heights, MI has an estimated $453 lower total tax burden than Belmond, IA based on our standard scenarios.
Important Tax Disclaimer
The tax information provided above is based on publicly available data and standard assumptions. Actual tax situations will vary based on:
- Individual financial circumstances
- Applicable deductions and credits
- Recent changes in tax laws
- Personal spending habits
- Local variations within cities and counties
This comparison is intended for general informational purposes only and should not be considered tax advice. For specific guidance regarding your tax situation, please consult with a qualified tax professional.