Watersmeet, Gogebic County, Michigan Property Taxes

Name: Property Tax Bills Across Watersmeet, Gogebic County, Michigan
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Watersmeet, MI effective property tax rate: 1.11%, significantly higher than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Watersmeet, MI home value: $130,430
Median annual Watersmeet, MI tax bill: $1,222, $1,178 lower than the national median property tax bill of $2,400.

How are property taxes in Gogebic calculated?

Property taxes in Watersmeet, 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 Watersmeet’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Watersmeet, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Watersmeet, Gogebic County, Michigan Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.11%

Estimate Property Tax Bill

$1,448

$1,343

Ownwell’s Watersmeet Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Watersmeet with just two data points. By entering your property's estimated assessed value, our calculator applies Watersmeet’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 Watersmeet, 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 and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the fundamental annual process. Watersmeet in Gogebic County, Michigan, has an effective property tax rate of 1.11%. This rate is higher than the national median property tax rate of 1.02% but aligns with Michigan's median rate. Although property tax rates can differ significantly across the state, Watersmeet's rate is consistent with the highest and lowest rates within the area. Understanding these rates can help homeowners make informed decisions about property investments and tax appeals. Comparing Watersmeet's property tax rate to other cities in Michigan and the U.S. provides valuable insights into how local tax burdens measure up against broader benchmarks.

Property Tax Rates Across Watersmeet, Gogebic County, Michigan

Source: Ownwell

0.69%

1.29%

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 Watersmeet Tax Rate

1.11%

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 Watersmeet, Gogebic County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
49969	0.50%	0.66%	1.11%	1.48%	1.68%

Source: Ownwell

Property Tax Assessment Values Across Watersmeet, Gogebic County, Michigan

When examining property taxes in Watersmeet, 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 Assessor 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 Watersmeet. For example, the median home price in Watersmeet is $130,430, with tax bills ranging significantly across the county. ZIP code 49969 has the highest median home price at $130,430.

Property Tax Assessment Values Across Watersmeet, Gogebic County, Michigan

Source: Ownwell

$44,410

$87,420

$130,430

Median Watersmeet Market Value

$130,430

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 Watersmeet, Gogebic County, Michigan

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
49969	$16,000	$51,394	$130,430	$264,566	$432,474

Source: Ownwell

Property Tax Bills Across Watersmeet, Gogebic County, Michigan

Property tax bills in Watersmeet, located in Gogebic County, MI, are determined by the assessed value of a home, which is a percentage of its market value. The median home price here is $130,430, and the property tax rate in the area is typically lower than the national average of 1.02%. However, tax bills can vary significantly, with amounts ranging from $436 at the 25th percentile to $4,315 at the 90th percentile. The highest and lowest median tax bills in the area are both $1,222, indicating a relatively stable tax environment. Factors influencing these bills include local government budgets and school district funding needs. High property tax bills can strain homeowners financially, especially if their property's assessed value increases unexpectedly. Ownwell can assist by analyzing your property tax assessment, identifying potential inaccuracies, and filing appeals on your behalf. By leveraging expert knowledge and experience, Ownwell helps homeowners maximize savings on their property tax bills, ensuring they only pay what is fair and accurate.

Property Tax Bills Across Watersmeet, Gogebic County, Michigan

Source: Ownwell

$420

$923

$1,425

Median Watersmeet Tax Bill

$1,222

Median Gogebic County Tax Bill

$965

Median Michigan Tax Bill

$1,795

Median United States Tax Bill

$2,400

Property Tax Bills Across Watersmeet, Gogebic County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
49969	$152	$436	$1,222	$2,534	$4,315

Source: Ownwell