National Mine, Michigan Property Taxes
The median property tax rate in National Mine, MI is 0.34%, significantly lower than both the national median of 0.99% and Michigan's state median of 1.07%. With the median home value in National Mine at $101,200, the typical annual property tax bill is $339, far below the national median of $2,690. Property taxes in National Mine are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding National Mine'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 National Mine or another part of Marquette County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
National Mine, Michigan Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$2,140
Ownwell’s National Mine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in National Mine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in National Mine 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 National Mine, Michigan
Property taxes in National Mine, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in National Mine is 0.34%, which is significantly lower than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within National Mine set these rates annually, and they can vary significantly across different neighborhoods. Each year, National Mine 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 National Mine's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in Michigan is found in Wayne County at 2.70%, while the lowest median tax rate is in Leelanau County at 0.91%. Understanding how these counties compare with National Mine provides valuable insights into the varying tax landscape across Marquette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average National Mine Tax Rate
0.34%
Average Marquette County Tax Rate
0.46%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across National Mine, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49865 | 0.34% | 0.34% | 0.34% | 0.34% | 0.34% |
Source: Ownwell
Property Tax Assessment Values Across National Mine, Michigan
In National Mine, 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 Marquette 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 National Mine, 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 National Mine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $101,200, with the highest and lowest median tax bills both recorded at $339 in the 49865 zip code.
Average National Mine Assessed Value
$101,200
Average Marquette County Assessed Value
$155,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across National Mine, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49865 | $101,200 | $101,200 | $101,200 | $101,200 | $101,200 |
Source: Ownwell
Property Tax Bills Across National Mine, Michigan
In the city of National Mine, located in Marquette County, MI, property tax bills are calculated based on the assessed value of a home. The median home price in this area is $101,200. Property tax rates are applied to this assessed value to determine the annual tax bill. In National Mine, the median property tax bill is consistently $339, which is significantly lower than the national median property tax rate of 0.99%. Several factors contribute to the calculation of property tax bills in National Mine. These include the assessed value of the property, local tax rates, and any applicable exemptions or deductions for which homeowners might qualify. The uniformity of the tax bill amounts, with the 25th, 75th, and 90th percentiles all at $339, indicates a stable and predictable tax environment for homeowners. For homeowners, this predictable and relatively low property tax bill can make owning a home in National Mine more affordable compared to other regions. This financial predictability can be especially beneficial for budgeting and long-term financial planning.
Average National Mine Tax Bill
$339
Average Marquette County Tax Bill
$725
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across National Mine, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49865 | $339 | $339 | $339 | $339 | $339 |
Source: Ownwell