Ironwood, Gogebic County, Michigan Property Taxes
Median Ironwood, MI effective property tax rate: 1.88%, significantly higher than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Ironwood, MI home value: $58,754
Median annual Ironwood, MI tax bill: $891, $1,509 lower than the national median property tax bill of $2,400.
How are property taxes in Gogebic calculated?
Property taxes in Ironwood, MI are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Ironwood’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Ironwood, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Ironwood, Gogebic County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.88%
Estimate Property Tax Bill
$1,105
$1,025
Ownwell’s Ironwood Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Ironwood with just two data points.
By entering your property's estimated assessed value, our calculator applies Ironwood’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.
This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Gogebic County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Ironwood, Gogebic County, Michigan
Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services annually and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Ironwood’s effective property tax rate to other cities in Michigan and the median property tax rates in Michigan and the U.S.
Ironwood, located in Gogebic County, Michigan, has a property tax rate that aligns with the highest and lowest median tax rates in the area at 1.88%. This rate is significantly higher than the national median property tax rate of 1.02%. Understanding these figures is crucial for property owners, as it highlights the importance of staying informed about local tax rates and seeking professional assistance if needed. Whether you're a homeowner or investor, being aware of how Ironwood's rates compare can provide valuable insights into your property tax liabilities.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Ironwood Tax Rate
1.88%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Gogebic County Tax Rate
1.50%
Median Effective Michigan Tax Rate
1.07%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Ironwood, Gogebic County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49938 | 1.05% | 1.58% | 1.88% | 2.31% | 2.68% |
Source: Ownwell
Property Tax Assessment Values Across Ironwood, Gogebic County, Michigan
When examining property taxes in Ironwood, MI, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Gogebic County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Gogebic County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Ironwood. For example, the median home price in Ironwood is $58,754, with tax bills ranging significantly across the county. Zip code 49938 has the highest median home price at $58,754.
Property Tax Assessment Values Across Ironwood, Gogebic County, Michigan
Source: Ownwell
$44,410
$87,420
$130,430
Median Ironwood Market Value
$58,754
Median Gogebic County Market Value
$65,668
Median Michigan Market Value
$177,800
Median United States Market Value
$235,294
Property Tax Assessment Values Across Ironwood, Gogebic County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49938 | $12,354 | $33,682 | $58,754 | $95,278 | $165,593 |
Source: Ownwell
Property Tax Bills Across Ironwood, Gogebic County, Michigan
In Ironwood, located in Gogebic County, MI, property tax bills are determined by assessing the property's value and applying the local tax rate. The assessed value is typically a percentage of the property's market value. Factors such as property size, location, and improvements can influence this valuation. Ironwood's median property tax bill stands at $891, significantly below the national median of $2400. This lower tax burden is a relief for many homeowners, but there is still potential for savings. Homeowners in Ironwood can experience tax bills ranging from the 25th percentile at $567 to the 90th percentile at $1860, depending on various factors.
Ownwell offers expert property tax appeal and exemption services to help homeowners reduce their tax bills. By analyzing property assessments and identifying discrepancies, Ownwell can assist homeowners in securing fairer valuations, potentially lowering their tax obligations. With Ownwell's guidance, Ironwood residents can maximize their savings and ensure they are not overpaying on their property taxes.
Median Ironwood Tax Bill
$891
Median Gogebic County Tax Bill
$965
Median Michigan Tax Bill
$1,795
Median United States Tax Bill
$2,400
Property Tax Bills Across Ironwood, Gogebic County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49938 | $260 | $567 | $891 | $1,331 | $1,860 |
Source: Ownwell