Niagara, Michigan Property Taxes
The median property tax rate in Niagara, MI is 1.33%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Niagara, the typical annual property tax bill reaches $380, which is significantly lower than the national median of $2,690. Property taxes in Niagara 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 Niagara'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 Niagara or another part of Dickinson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Niagara, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$380
Ownwell’s Niagara Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Niagara with just two key data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Niagara to estimate your property tax bill. This valuable tool provides a clear understanding of your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, further localized information is available below. Your property's assessed value, determined by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Niagara, Michigan
Property taxes in Niagara, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Niagara is 1.33%, which is higher than the U.S. national median of 0.99%. Local government entities within Niagara set these rates annually, and they can vary significantly across different neighborhoods. Each year, Niagara 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 Niagara's effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 54151 has the highest median property tax rate of 1.33%, while the same zip code also has the lowest median tax rate of 1.33%. Understanding how these areas compare with Niagara 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 Niagara Tax Rate
1.33%
Average Dickinson County Tax Rate
1.46%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Niagara, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54151 | 1.33% | 1.33% | 1.33% | 1.33% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Niagara, Michigan
In Niagara, 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 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. In Niagara, 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. The median home price in Niagara is $28,600, with the median tax bill being $380. Both the highest and lowest median tax bills are found in the 54151 zip code, each amounting to $380. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Niagara Assessed Value
$28,600
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 Niagara, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54151 | $28,600 | $28,600 | $28,600 | $28,600 | $28,600 |
Source: Ownwell
Property Tax Bills Across Niagara, Michigan
In Niagara, located in Dickinson County, MI, property tax bills are calculated based on the assessed value of the home, which is a percentage of its market value. For homeowners in Niagara, the median home price stands at $28,600. The property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and any applicable exemptions or deductions also play a role in determining the final tax amount. In this region, the tax bills are relatively consistent, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $380. This uniformity suggests a stable tax environment for homeowners. Comparing this to the national median property tax rate of 0.99%, Niagara's property tax rate provides an affordable option for residents. The consistent tax rate can be beneficial for homeowners, offering predictability and ease in financial planning. Overall, the property tax system in Niagara ensures that homeowners can anticipate their annual obligations with minimal surprises.
Average Niagara Tax Bill
$380
Average Dickinson County Tax Bill
$1,193
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Niagara, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54151 | $380 | $380 | $380 | $380 | $380 |
Source: Ownwell