Mass City, Michigan Property Taxes
The median property tax rate in MASS CITY, MI is 0.50%, considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in MASS CITY being $64,720, the typical annual property tax bill reaches $304, significantly below the national median of $2,690. Property taxes in MASS 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 MASS 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 MASS 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
Mass City, Michigan Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$2,140
Ownwell’s MASS CITY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MASS CITY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MASS 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 Mass City, Michigan
Property taxes in MASS CITY, Michigan, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in MASS CITY is 0.50%, which is significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within MASS CITY set these rates annually, and they can vary significantly across different neighborhoods. Each year, MASS 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 MASS CITY's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49948 has both the highest and lowest median property tax rate in Ontonagon county, standing at 0.50%. Understanding how these cities compare with MASS CITY provides valuable insights into the varying tax landscape across Ontonagon, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mass City Tax Rate
0.50%
Average Ontonagon County Tax Rate
0.86%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mass City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49948 | 0.32% | 0.43% | 0.50% | 0.57% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Mass City, Michigan
In MASS 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 local 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. Assessment notices in MASS CITY 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 MASS 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 $304.00, found in zip code 49948.
Average Mass City Assessed Value
$64,720
Average Ontonagon County Assessed Value
$68,300
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mass City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49948 | $20,736 | $39,700 | $64,720 | $102,000 | $138,720 |
Source: Ownwell
Property Tax Bills Across Mass City, Michigan
In MASS CITY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Various factors such as location, property size, and market conditions influence this valuation. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For example, in MASS CITY, the median home price is $64,720. Homeowners in this region can expect their tax bills to vary significantly. The 25th percentile tax bill is around $191, while the 75th percentile tax bill reaches $537. Those in the 90th percentile might see tax bills as high as $708. The highest median tax bill recorded in the area is $304, which is relatively modest compared to the national median property tax rate of 0.99%. Understanding these calculations helps homeowners anticipate their annual expenses and budget accordingly.
Average Mass City Tax Bill
$304
Average Ontonagon County Tax Bill
$577
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Mass City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49948 | $105 | $191 | $304 | $537 | $708 |
Source: Ownwell