Nisula, Michigan Property Taxes
The median property tax rate in Nisula, MI is 1.22%, which is considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Nisula, the typical annual property tax bill reaches $204, significantly lower than the national median of $2,690. Property taxes in Nisula 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 Nisula'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 Nisula or another part of Houghton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nisula, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$222
Ownwell’s Nisula Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nisula with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nisula 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 Nisula, Michigan
Property taxes in Nisula, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nisula is 1.22%, significantly higher than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Nisula set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nisula 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 Nisula's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49952 zip code has the highest median property tax rate of 1.22%, while the same zip code also has the lowest median tax rate of 1.22%. Understanding how these areas compare with Nisula provides valuable insights into the varying tax landscape across Houghton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nisula Tax Rate
1.22%
Average Houghton County Tax Rate
0.94%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nisula, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49952 | 0.66% | 0.89% | 1.22% | 1.63% | 1.82% |
Source: Ownwell
Property Tax Assessment Values Across Nisula, Michigan
In Nisula, 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 Houghton 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 Nisula, 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 Nisula helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $204 in the 49952 zip code, which is also the lowest median tax bill.
Average Nisula Assessed Value
$18,177
Average Houghton County Assessed Value
$95,531
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nisula, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49952 | $9,034 | $9,186 | $18,177 | $54,535 | $107,043 |
Source: Ownwell
Property Tax Bills Across Nisula, Michigan
In Nisula, located in Houghton County, MI, property tax bills are calculated based on the assessed value of the home, which is determined by local assessors. The assessed value is a percentage of the market value of the property. For homeowners in Nisula, the median home price is $18,177. The property tax rate in this region is then applied to the assessed value to calculate the annual tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions or deductions. In Nisula, homeowners experience a range of property tax bills. The 25th percentile tax bill is $147, while the 75th percentile tax bill is $625, and the 90th percentile tax bill reaches $944. The highest median tax bill in the area is $204, tied to the zip code 49952. Compared to the national median property tax rate of 0.99%, Nisula's property tax rates can significantly impact homeowners, potentially offering lower tax burdens due to the lower median home prices.
Average Nisula Tax Bill
$204
Average Houghton County Tax Bill
$879
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Nisula, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49952 | $85 | $147 | $204 | $625 | $944 |
Source: Ownwell