Iosco County, Michigan Property Taxes
The median property tax rate in Iosco County is 2.40%, which is significantly higher than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $51,600 in Iosco County, the typical annual property tax bill reaches $1,150, surpassing the national median of $2,690. Property taxes in Iosco 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 Iosco 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 East Tawas or another part of Iosco County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Iosco County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.4%
Estimate Property Tax Bill
$1,238
$1,149
Ownwell’s Iosco County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Iosco County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Iosco 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 Iosco County, Michigan
Property taxes in Iosco County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Iosco County is 2.40%, which is significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Iosco County set these rates annually, and they can vary significantly between different areas within the county. Each year, Iosco 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 Iosco County's effective property tax rate with other counties in Michigan and the national median. For comparison, the city of Greenbush has one of the higher property tax rates in Michigan at 3.26%, while the city of Twining boasts one of the lowest at 1.64%. Analyzing how Iosco County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Iosco County Tax Rate
2.40%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Iosco County, Michigan
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alabaster | N/A | N/A | N/A | N/A | N/A |
| East Tawas | 1.46% | 1.87% | 2.44% | 3.05% | 3.68% |
| Glennie | 1.44% | 1.96% | 2.38% | 3.15% | 3.98% |
| Greenbush | 1.76% | 2.03% | 3.26% | 3.80% | 4.17% |
| Hale | 1.41% | 1.62% | 2.41% | 3.11% | 3.51% |
| Long Lake | 1.30% | 1.64% | 2.41% | 2.99% | 3.55% |
| Mikado | 1.66% | 1.71% | 2.00% | 2.99% | 3.34% |
| National City | 1.43% | 1.75% | 2.50% | 3.06% | 3.36% |
| Oscoda | 1.58% | 1.77% | 2.35% | 3.18% | 3.83% |
| South Branch | 1.47% | 1.76% | 2.72% | 3.08% | 3.49% |
| Tawas City | 1.51% | 1.72% | 2.31% | 3.21% | 4.09% |
| Turner | 1.35% | 1.63% | 2.24% | 3.17% | 3.59% |
| Twining | N/A | N/A | N/A | N/A | N/A |
| Whittemore | 1.45% | 1.70% | 2.09% | 2.91% | 3.56% |
Source: Ownwell
Property Tax Assessment Values Across Iosco County, Michigan
In Iosco 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 Iosco 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 Iosco 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. For instance, in Iosco County, the median home price is $51,600, with tax bills ranging from $704 at the 25th percentile to $3,154 at the 90th percentile. The highest median tax bill is in Greenbush at $2,106, while the lowest is in Glennie at $726. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Iosco County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Iosco County Assessed Value
$51,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Iosco County, Michigan
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alabaster | N/A | N/A | N/A | N/A | N/A |
| East Tawas | $26,210 | $42,000 | $62,950 | $95,800 | $153,880 |
| Glennie | $12,630 | $20,375 | $32,050 | $46,175 | $65,710 |
| Greenbush | $25,710 | $39,550 | $66,500 | $98,600 | $138,530 |
| Hale | $12,000 | $23,700 | $46,700 | $84,600 | $137,280 |
| Long Lake | $13,160 | $21,800 | $47,600 | $89,700 | $178,960 |
| Mikado | $36,450 | $46,650 | $59,450 | $73,750 | $125,100 |
| National City | $16,400 | $26,500 | $47,600 | $82,800 | $123,900 |
| Oscoda | $17,000 | $34,400 | $48,100 | $74,500 | $118,240 |
| South Branch | $14,500 | $24,850 | $47,500 | $75,450 | $105,420 |
| Tawas City | $17,560 | $37,000 | $60,050 | $93,925 | $139,400 |
| Turner | $14,700 | $26,250 | $45,475 | $72,138 | $102,150 |
| Twining | N/A | N/A | N/A | N/A | N/A |
| Whittemore | $14,500 | $24,425 | $41,175 | $67,550 | $94,900 |
Source: Ownwell
Property Tax Bills Across Iosco County, Michigan
In Iosco County, MI, property tax bills are calculated based on the assessed value of a home, which is typically around 50% of its market value. For instance, with a median home price of $51,600, the assessed value would be approximately $25,800. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including local government budgets, school district funding needs, and special assessments for services like fire protection or road maintenance. Homeowners in Iosco County can expect a range of tax bills depending on their property's value and location. For example, the 25th percentile tax bill is about $704, while the 75th percentile reaches $1,934. In some cases, such as in Greenbush, the highest median tax bill can go up to $2,106, whereas Glennie has the lowest median tax bill at $726. These property taxes significantly impact homeowners by contributing to local services and infrastructure, ultimately affecting the overall quality of life in the community.
Average Iosco County Tax Bill
$1,150
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Iosco County, Michigan
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alabaster | N/A | N/A | N/A | N/A | N/A |
| East Tawas | $667 | $1,015 | $1,489 | $2,273 | $3,556 |
| Glennie | $353 | $496 | $726 | $1,093 | $1,565 |
| Greenbush | $726 | $1,065 | $2,106 | $3,088 | $4,314 |
| Hale | $326 | $555 | $979 | $1,898 | $2,961 |
| Long Lake | $375 | $589 | $995 | $1,672 | $2,976 |
| Mikado | $850 | $991 | $1,198 | $1,858 | $2,404 |
| National City | $392 | $619 | $1,048 | $1,961 | $2,929 |
| Oscoda | $449 | $708 | $1,088 | $1,843 | $3,278 |
| South Branch | $408 | $642 | $1,084 | $1,803 | $2,496 |
| Tawas City | $450 | $847 | $1,319 | $2,068 | $3,703 |
| Turner | $337 | $545 | $954 | $1,422 | $2,207 |
| Twining | N/A | N/A | N/A | N/A | N/A |
| Whittemore | $342 | $583 | $884 | $1,357 | $1,862 |
Source: Ownwell