National City, Michigan Property Taxes
The median property tax rate in National City, MI is 2.50%, significantly higher than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $47,600 in National City, the typical annual property tax bill reaches $1,048, surpassing the national median of $2,690. Property taxes in National City are calculated based on the tax assessed value, which is generally lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding National City's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of National City or another part of Iosco County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
National City, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.5%
Estimate Property Tax Bill
$1,190
Ownwell’s National City Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in National City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in National City to estimate your property tax bill. This valuable 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 National City, Michigan
Property taxes in National City, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in National City is 2.50%, significantly higher than the U.S. national median of 0.99%. Local government entities within National City set these rates annually, and they can vary significantly across different neighborhoods. Each year, National City 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 National City's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48748 zip code has both the highest and lowest median property tax rate of 2.50%. Understanding how these cities compare with National City provides valuable insights into the varying tax landscape across Iosco County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average National City Tax Rate
2.50%
Average Iosco County Tax Rate
2.40%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across National City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48748 | 1.43% | 1.75% | 2.50% | 3.06% | 3.36% |
Source: Ownwell
Property Tax Assessment Values Across National City, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in National City, Michigan. 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 Iosco 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 National City, 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. Notably, the median home price in National City is $47,600, with tax bills ranging from $619 at the 25th percentile to $2,929 at the 90th percentile. The highest and lowest median tax bills are both $1,048 in the 48748 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Average National City Assessed Value
$47,600
Average Iosco County Assessed Value
$51,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across National City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48748 | $16,400 | $26,500 | $47,600 | $82,800 | $123,900 |
Source: Ownwell
Property Tax Bills Across National City, Michigan
In National City, Iosco County, MI, property tax bills are determined based on the assessed value of the home, which is typically a percentage of the market value. For instance, with a median home price of $47,600, homeowners can expect varying tax bills depending on their property's assessed value and local tax rates. The tax bill for the 25th percentile is around $619, while the 75th percentile sees bills closer to $1,961. For those at the 90th percentile, tax bills can reach up to $2,929. These figures illustrate the range of property tax burdens homeowners might face. Factors such as property improvements, neighborhood changes, and local government budgets also play significant roles in determining property tax bills. Compared to the national median property tax rate of 0.99%, homeowners in National City might find their tax rates competitive or slightly higher, impacting their overall financial planning. Understanding these elements can help homeowners better anticipate and manage their annual property tax obligations.
Average National City Tax Bill
$1,048
Average Iosco County Tax Bill
$1,150
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across National City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48748 | $392 | $619 | $1,048 | $1,961 | $2,929 |
Source: Ownwell