Iron Mountain, Dickinson County, Michigan Property Taxes
The median property tax rate in Iron Mountain, MI is 1.65%, significantly higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Iron Mountain at $95,000, the typical annual property tax bill reaches $1,430, exceeding the national median of $2,690. Property taxes in Iron Mountain 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 Iron Mountain'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 Iron Mountain 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
Iron Mountain, Dickinson County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.65%
Estimate Property Tax Bill
$1,568
$1,455
Ownwell’s IRON MOUNTAIN Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in IRON MOUNTAIN with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in IRON MOUNTAIN 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 Iron Mountain, Dickinson County, Michigan
Property taxes in Iron Mountain, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Iron Mountain is 1.65%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Iron Mountain set these rates annually, and they can vary significantly across different neighborhoods. Each year, Iron Mountain 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 Iron Mountain's effective property tax rate to other areas in Dickinson County and the national median. For comparison, the 49801 zip code has the highest median property tax rate of 1.66%, while the 49831 zip code has the lowest median tax rate of 0.78%. Understanding how these areas compare with Iron Mountain provides valuable insights into the varying tax landscape across Dickinson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Iron Mountain Tax Rate
1.65%
Average Dickinson County Tax Rate
1.46%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Iron Mountain, Dickinson County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49801 | 0.68% | 0.77% | 1.66% | 1.83% | 2.11% |
| 49802 | N/A | N/A | N/A | N/A | N/A |
| 49831 | 0.46% | 0.64% | 0.78% | 1.32% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Iron Mountain, Dickinson County, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Iron Mountain, Michigan. 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 Dickinson 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. 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 in Iron Mountain can better navigate their tax responsibilities and comprehend how their property taxes are determined. The highest median tax bill in the area is $2140 in zip code 49802, while the lowest is $1182 in zip code 49831. Awareness of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Iron Mountain, Dickinson County, Michigan
Source: Ownwell
$63,000
$106,600
$150,200
Average Iron Mountain Assessed Value
$95,000
Average Dickinson County Assessed Value
$85,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Iron Mountain, Dickinson County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49801 | $32,200 | $59,600 | $94,800 | $179,000 | $287,000 |
| 49802 | N/A | N/A | N/A | N/A | N/A |
| 49831 | $91,200 | $97,950 | $150,200 | $204,950 | $225,680 |
Source: Ownwell
Property Tax Bills Across Iron Mountain, Dickinson County, Michigan
In Iron Mountain, Dickinson County, MI, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax amount, including the property's location, size, and any applicable exemptions or deductions. For homeowners in Iron Mountain, the median home price is $95,000. The tax bill can vary significantly, with the 25th percentile at $1,031 and the 75th percentile at $2,110. At the 90th percentile, tax bills can reach up to $3,252. The highest median tax bill in the area is $2,140, found in zip code 49802, while the lowest median tax bill is $1,182 in zip code 49831. These tax bills can impact homeowners' overall financial planning and affordability, making it crucial for residents to understand how their property taxes are determined and managed.
Average Iron Mountain Tax Bill
$1,430
Average Dickinson County Tax Bill
$1,193
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Iron Mountain, Dickinson County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49801 | $703 | $1,032 | $1,430 | $2,110 | $3,249 |
| 49802 | N/A | N/A | N/A | N/A | N/A |
| 49831 | $663 | $923 | $1,182 | $1,538 | $2,739 |
Source: Ownwell