Iron County, Michigan Property Taxes

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

Median Iron County effective property tax rate: 0.75%, significantly lower than the national median of 1.02%.
Median Iron County home value: $75,910
Median annual Iron County tax bill: $661, $1,739 lower than the national median property tax bill of $2,400.

How are property taxes in Iron County calculated?

Property taxes in Iron County 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 your county's property tax system, exemptions, and reduction opportunities can lead to significant savings. Whether you live in Crystal Falls or another part of Iron County, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Iron County, Michigan Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.75%

Estimate Property Tax Bill

$569

$528

Ownwell’s Iron County Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Iron County with just two data points. By entering your property's estimated assessed value, our calculator applies Iron County’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 more 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 Iron County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Iron County, Michigan

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services 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 Iron County's effective property tax rate to other counties in Michigan or the U.S. median property tax rate. Iron County has a median property tax rate of 0.75%, which is significantly lower than the national median of 1.02%. Within the state, Caspian boasts the highest median property tax rate at 1.66%, while Alpha has the lowest at 0.48%. The variance in tax rates within Michigan highlights the importance of understanding local property tax dynamics. This knowledge can empower property owners to make informed decisions about appeals and exemptions, ensuring they are not overpaying on their property taxes.

Property Tax Rates Across Iron County, Michigan

Source: Ownwell

0.33%

0.99%

1.66%

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 Iron County Tax Rate

0.75%

Median Effective Michigan Tax Rate

1.07%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Iron County, Michigan

City	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
Alpha	0.34%	0.44%	0.48%	0.53%	0.62%
Amasa	0.25%	0.38%	0.50%	0.62%	0.62%
Caspian	1.42%	1.59%	1.66%	2.40%	2.52%
Crystal Falls	0.30%	0.48%	0.62%	0.80%	1.45%
Gaastra	0.48%	0.91%	1.45%	1.70%	2.27%
Iron River	0.44%	0.66%	1.13%	1.58%	1.99%
Republic	0.21%	0.27%	0.33%	0.38%	0.52%
Trout Creek	0.44%	0.49%	0.70%	1.13%	1.55%
Chesaning	N/A	N/A	N/A	N/A	N/A
Flint	N/A	N/A	N/A	N/A	N/A
Hanover Park	N/A	N/A	N/A	N/A	N/A
Iron Mountain	N/A	N/A	N/A	N/A	N/A
Lawrence	N/A	N/A	N/A	N/A	N/A
Phelps	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Iron County, Michigan

When examining property taxes in Iron County, 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 Iron County Equalization Department 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. Assessment notices: In Iron County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Iron County. For example, the median tax bill in Iron County is $759, with tax bills ranging significantly across the county. Trout Creek has the highest median home price at $169,800.

Property Tax Assessment Values Across Iron County, Michigan

Source: Ownwell

$37,000

$103,400

$169,800

Median Iron County Market Value

$75,910

Median Michigan Market Value

$177,800

Median United States Market Value

$235,294

Property Tax Assessment Values Across Iron County, Michigan

City	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
Alpha	$1,200	$2,400	$37,000	$57,800	$77,000
Amasa	$7,660	$21,700	$41,220	$69,540	$122,380
Caspian	$22,482	$28,835	$39,060	$59,780	$106,056
Crystal Falls	$30,508	$55,340	$93,500	$158,200	$256,760
Gaastra	$3,804	$21,300	$46,440	$78,200	$162,812
Iron River	$10,000	$39,820	$73,120	$139,400	$246,600
Republic	$57,480	$84,750	$100,300	$184,400	$341,480
Trout Creek	$69,680	$92,950	$169,800	$253,350	$366,520
Chesaning	N/A	N/A	N/A	N/A	N/A
Flint	N/A	N/A	N/A	N/A	N/A
Hanover Park	N/A	N/A	N/A	N/A	N/A
Iron Mountain	N/A	N/A	N/A	N/A	N/A
Lawrence	N/A	N/A	N/A	N/A	N/A
Phelps	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Iron County, Michigan

In Iron County, MI, property tax bills are determined by assessing the property's value and applying the local tax rate. The median home price in the county is $75,910, and the property tax rate is calculated based on this assessed value. Homeowners in Iron County face a median property tax bill that varies significantly, with the 25th percentile at $328 and the 75th percentile at $1,154. This variation highlights the influence of factors such as property location, size, and market conditions on tax bills. For instance, homeowners in Trout Creek experience the highest median tax bill in the county at $1,209, while those in Alpha enjoy the lowest at $148. Compared to the national median property tax bill of $2,400, Iron County's tax bills can be relatively lower, which may provide some financial relief to homeowners. However, understanding these factors is crucial for homeowners to effectively manage their property tax expenses and explore potential exemptions or appeals if necessary.

Property Tax Bills Across Iron County, Michigan

Source: Ownwell

$148

$679

$1,209

Median Iron County Tax Bill

$661

Median Michigan Tax Bill

$1,795

Median United States Tax Bill

$2,400

Property Tax Bills Across Iron County, Michigan

City	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
Alpha	$6	$12	$148	$254	$374
Amasa	$27	$85	$192	$338	$673
Caspian	$397	$529	$731	$1,091	$1,717
Crystal Falls	$143	$317	$575	$1,040	$1,738
Gaastra	$44	$202	$629	$1,043	$1,608
Iron River	$88	$408	$759	$1,296	$2,183
Republic	$128	$275	$378	$679	$1,061
Trout Creek	$479	$748	$1,209	$1,949	$2,748
Chesaning	N/A	N/A	N/A	N/A	N/A
Flint	N/A	N/A	N/A	N/A	N/A
Hanover Park	N/A	N/A	N/A	N/A	N/A
Iron Mountain	N/A	N/A	N/A	N/A	N/A
Lawrence	N/A	N/A	N/A	N/A	N/A
Phelps	N/A	N/A	N/A	N/A	N/A

Source: Ownwell