Negaunee, Michigan Property Taxes
The median property tax rate in Negaunee, MI is 0.76%, which is notably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value in Negaunee of $161,100, the typical annual property tax bill amounts to $1,158, significantly less than the national median of $2,690. Property taxes in Negaunee are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Negaunee'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 Negaunee or another part of Marquette County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Negaunee, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$1,224
Ownwell’s Negaunee Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Negaunee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Negaunee 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 Marquette County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Negaunee, Michigan
Property taxes in Negaunee, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Negaunee is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Negaunee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Negaunee 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. For comparison, the zip code 49866 has the highest median property tax rate of 0.76%, while the lowest median tax rate is also 0.76%. Understanding how these cities compare with Negaunee provides valuable insights into the varying tax landscape across Marquette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Negaunee Tax Rate
0.76%
Average Marquette County Tax Rate
0.46%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Negaunee, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49866 | 0.38% | 0.54% | 0.76% | 0.91% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Negaunee, Michigan
In Negaunee, 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 Marquette 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 Negaunee, 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 Negaunee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 49866 has the highest and lowest median tax bill, both at $1,158. For comparison, the 25th percentile tax bill is $732, while the 75th percentile tax bill is $1,832.
Average Negaunee Assessed Value
$161,100
Average Marquette County Assessed Value
$155,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Negaunee, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49866 | $69,080 | $111,600 | $161,100 | $231,000 | $331,120 |
Source: Ownwell
Property Tax Bills Across Negaunee, Michigan
In Negaunee, located in Marquette County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The median home price in Negaunee is $161,100, and the tax rate is applied to this assessed value to determine the annual property tax bill. Factors that influence the tax bill include the home's market value, local tax rates, and any applicable exemptions or deductions. Homeowners in Negaunee can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $732, while the 75th percentile tax bill reaches $1,832. At the 90th percentile, the tax bill can be as high as $2,736. The highest median tax bill recorded in the area is $1,158. These variations can have a substantial impact on homeowners, affecting their monthly budgets and long-term financial planning. Compared to the national median property tax rate of 0.99%, Negaunee's property tax bills reflect the local economic conditions and housing market.
Average Negaunee Tax Bill
$1,158
Average Marquette County Tax Bill
$725
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Negaunee, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49866 | $383 | $732 | $1,158 | $1,832 | $2,736 |
Source: Ownwell