Manistique, Michigan Property Taxes
The median property tax rate in Manistique, MI is 0.45%, considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Manistique at $136,400, the typical annual property tax bill reaches $568, significantly below the national median of $2,690. Property taxes in Manistique 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 Manistique'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 Manistique 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
Manistique, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$614
Ownwell’s MANISTIQUE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MANISTIQUE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MANISTIQUE 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 Manistique, Michigan
Property taxes in Manistique, Michigan, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Manistique is 0.45%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Manistique set these rates annually, and they can vary significantly across different neighborhoods. Each year, Manistique 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 Manistique's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49854 zip code has both the highest and lowest median property tax rate of 0.45%. Understanding how these cities compare with Manistique provides valuable insights into the varying tax landscape across Delta County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Manistique Tax Rate
0.45%
Average Delta County Tax Rate
0.51%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Manistique, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49854 | 0.29% | 0.36% | 0.45% | 0.49% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Manistique, Michigan
In Manistique, 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 Delta 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 Manistique, 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 Manistique helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Manistique is 49854, with a median tax bill of $568.
Average Manistique Assessed Value
$136,400
Average Delta County Assessed Value
$107,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Manistique, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49854 | $63,900 | $95,600 | $136,400 | $197,050 | $250,800 |
Source: Ownwell
Property Tax Bills Across Manistique, Michigan
In Manistique, located in Delta County, MI, property tax bills are influenced by several key factors. The calculation begins with the assessed value of a home, which is determined by the local tax assessor. This value is typically a percentage of the home's market value, with the median home price in Manistique being $136,400. The tax rate is then applied to the assessed value to determine the tax bill. Homeowners in Manistique can expect a range of tax bills. For instance, the tax bill at the 25th percentile is $384, while at the 75th percentile, it rises to $856. The 90th percentile tax bill reaches $1123. These figures illustrate the variability in property tax amounts based on home values and assessment practices. Compared to the national median property tax rate of 0.99%, Manistique's property tax bills reflect the local economic conditions and housing market. Understanding these factors can help homeowners anticipate their annual property tax obligations and budget accordingly.
Average Manistique Tax Bill
$568
Average Delta County Tax Bill
$702
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Manistique, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49854 | $249 | $384 | $568 | $856 | $1,123 |
Source: Ownwell