Copper City, Michigan Property Taxes
The median property tax rate in Copper City, MI is 1.52%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Copper City, the typical annual property tax bill reaches $662, which is significantly lower than the national median of $2,690. Property taxes in Copper City 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 Copper City'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 Copper City 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
Copper City, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.52%
Estimate Property Tax Bill
$679
Ownwell’s Copper City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Copper City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Copper City 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 Copper City, Michigan
Property taxes in Copper City, Michigan, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Copper City is 1.52%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Copper City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Copper City 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 Copper City's effective property tax rate to other counties in Michigan and the national median. For comparison, the ZIP code 49917 has both the highest and lowest median property tax rate of 1.52%. Understanding how these cities compare with Copper City provides valuable insights into the varying tax landscape across Houghton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Copper City Tax Rate
1.52%
Average Houghton County Tax Rate
0.94%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Copper City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49917 | 0.99% | 1.25% | 1.52% | 1.96% | 2.39% |
Source: Ownwell
Property Tax Assessment Values Across Copper City, Michigan
In Copper City, 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 Houghton 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 Copper City, 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. Being aware of these valuation processes in Copper City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $662.00 in the 49917 zip code, while the lowest median tax bill is also $662.00 in the 49917 zip code.
Average Copper City Assessed Value
$44,690
Average Houghton County Assessed Value
$95,531
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Copper City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49917 | $2,000 | $4,000 | $44,690 | $60,663 | $74,400 |
Source: Ownwell
Property Tax Bills Across Copper City, Michigan
In Copper City, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The assessed value is typically a percentage of the market value of the property. Once the assessed value is established, the tax rate is applied to calculate the annual tax bill. For instance, the median home price in Copper City is $44,690, and property tax bills can vary significantly. Homeowners in the 25th percentile pay around $101, while those in the 75th percentile face bills of approximately $948. At the 90th percentile, the tax bill can reach up to $1,176. The highest median tax bill in the area is $662, applicable to the 49917 zip code. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting homeowners by contributing to the community's overall quality of life. With the national median property tax rate at 0.99%, Copper City's rates provide a comparative perspective for residents.
Average Copper City Tax Bill
$662
Average Houghton County Tax Bill
$879
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Copper City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49917 | $34 | $101 | $662 | $948 | $1,176 |
Source: Ownwell