Gogebic County, Michigan Property Taxes
The median property tax rate in Gogebic County is 1.50%, which is significantly higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Gogebic County at $65,668, the typical annual property tax bill reaches $965, which is below the national median of $2,690. Property taxes in Gogebic County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Gogebic County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Ironwood or another part of Gogebic County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gogebic County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.5%
Estimate Property Tax Bill
$985
$914
Ownwell’s Gogebic County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Gogebic County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Gogebic County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Gogebic County, Michigan
Property taxes in Gogebic County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Gogebic County is 1.50%, which is higher than the U.S. national median of 0.99%. Local government entities within Gogebic County set these rates annually, and they can vary significantly between different areas within the county. Each year, Gogebic County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Gogebic County's effective property tax rate with other areas in Michigan and the national median. For comparison, the city of Ironwood has one of the higher property tax rates in Michigan at 1.88%, while the city of Marenisco boasts one of the lowest at 0.69%. Analyzing how Gogebic County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Gogebic County Tax Rate
1.50%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gogebic County, Michigan
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Archbold | N/A | N/A | N/A | N/A | N/A |
| Bessemer | 0.56% | 0.74% | 1.13% | 1.24% | 1.65% |
| Ironwood | 1.05% | 1.58% | 1.88% | 2.31% | 2.68% |
| Land O Lakes | N/A | N/A | N/A | N/A | N/A |
| Marenisco | 0.55% | 0.65% | 0.69% | 1.22% | 1.39% |
| Ramsay | 0.61% | 0.62% | 0.71% | 1.21% | 1.25% |
| Wakefield | 0.67% | 1.17% | 1.32% | 1.41% | 1.52% |
| Watersmeet | 0.50% | 0.66% | 1.11% | 1.48% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Gogebic County, Michigan
In Gogebic County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Gogebic County Appraisal District. The assessed value, however, 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 Gogebic County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, LAND O LAKES has the highest median tax bill in the county at $1,845, while RAMSAY has the lowest at $420. Being aware of these valuation processes in Gogebic County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Gogebic County Assessed Value
$65,668
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gogebic County, Michigan
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Archbold | N/A | N/A | N/A | N/A | N/A |
| Bessemer | $2,052 | $31,804 | $58,864 | $98,617 | $164,298 |
| Ironwood | $12,354 | $33,682 | $58,754 | $95,278 | $165,593 |
| Land O Lakes | N/A | N/A | N/A | N/A | N/A |
| Marenisco | $31,884 | $57,406 | $110,071 | $239,584 | $372,115 |
| Ramsay | $17,956 | $36,888 | $44,410 | $57,672 | $84,180 |
| Wakefield | $22,148 | $44,246 | $63,202 | $96,581 | $161,809 |
| Watersmeet | $16,000 | $51,394 | $130,430 | $264,566 | $432,474 |
Source: Ownwell
Property Tax Bills Across Gogebic County, Michigan
Property tax bills in Gogebic County, MI, are calculated based on the assessed value of a property, which is determined by local assessors. The assessed value is typically a percentage of the property's market value. Homeowners in Gogebic County see a wide range of tax bills depending on various factors, including property location and market conditions. For instance, the median home price in the county is $65,668. Tax bills can vary significantly within the county; the 25th percentile tax bill is around $528, while the 75th percentile tax bill reaches up to $1,676. At the higher end, the 90th percentile tax bill is $2,933. The highest median tax bill is found in Land O Lakes at $1,845, whereas Ramsay has the lowest median tax bill at $420. These variations significantly impact homeowners, influencing their financial planning and property investment decisions. Compared to the national median property tax rate of 0.99%, Gogebic County offers a relatively affordable property tax environment.
Average Gogebic County Tax Bill
$965
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Gogebic County, Michigan
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Archbold | N/A | N/A | N/A | N/A | N/A |
| Bessemer | $159 | $545 | $836 | $1,367 | $2,133 |
| Ironwood | $260 | $567 | $891 | $1,331 | $1,860 |
| Land O Lakes | N/A | N/A | N/A | N/A | N/A |
| Marenisco | $484 | $731 | $1,425 | $2,945 | $3,501 |
| Ramsay | $264 | $286 | $420 | $645 | $1,227 |
| Wakefield | $551 | $769 | $1,034 | $1,511 | $2,359 |
| Watersmeet | $152 | $436 | $1,222 | $2,534 | $4,315 |
Source: Ownwell