Mackinaw City, Michigan Property Taxes
The median property tax rate in Mackinaw City, MI is 1.51%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Mackinaw City at $184,800, the typical annual property tax bill reaches $2,662, slightly below the national median of $2,690. Property taxes in Mackinaw City 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 Mackinaw City'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 Mackinaw City or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mackinaw City, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.51%
Estimate Property Tax Bill
$2,790
Ownwell’s MACKINAW CITY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MACKINAW CITY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MACKINAW CITY 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 Mackinaw City, Michigan
Property taxes in Mackinaw City, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mackinaw City is 1.51%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Mackinaw City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mackinaw 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 Mackinaw City's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49701 zip code has the highest median property tax rate of 1.51%, while the same 49701 zip code also has the lowest median tax rate of 1.51%. Understanding how these cities compare with Mackinaw City provides valuable insights into the varying tax landscape across Emmet County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mackinaw City Tax Rate
1.51%
Average Emmet County Tax Rate
0.97%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mackinaw City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49701 | 0.91% | 1.13% | 1.51% | 1.90% | 2.43% |
Source: Ownwell
Property Tax Assessment Values Across Mackinaw City, Michigan
In Mackinaw City, 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 Emmet 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 Mackinaw 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. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Mackinaw City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,662, found in zip code 49701.
Property Tax Assessment Values Across Mackinaw City, Michigan
Source: Ownwell
$135,400
$240,100
$344,800
Average Mackinaw City Assessed Value
$184,800
Average Emmet County Assessed Value
$259,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mackinaw City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49701 | $60,000 | $106,600 | $184,800 | $302,000 | $477,200 |
Source: Ownwell
Property Tax Bills Across Mackinaw City, Michigan
In Mackinaw City, located in Emmet County, MI, property tax bills are calculated based on the assessed value of a home, which is derived from the market value. The median home price in this area is $184,800. The local tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property characteristics, location, and any applicable exemptions or deductions. For homeowners in Mackinaw City, property tax bills can vary significantly. The 25th percentile tax bill is around $1,591, while those at the 75th percentile see bills closer to $4,671. At the 90th percentile, tax bills can reach up to $7,388. These variations can impact homeowners differently, with higher-valued properties generally incurring higher tax bills. Comparatively, the median property tax rate in Mackinaw City aligns with the national median rate of 0.99%, making it crucial for homeowners to understand how their property assessments and local tax rates interact to determine their annual obligations.
Average Mackinaw City Tax Bill
$2,662
Average Emmet County Tax Bill
$2,560
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Mackinaw City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49701 | $892 | $1,591 | $2,662 | $4,671 | $7,388 |
Source: Ownwell