Bark River, Michigan Property Taxes
The median property tax rate in Bark River, MI is 0.26%, considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Bark River being $126,064, the typical annual property tax bill reaches $321, significantly less than the national median of $2,690. Property taxes in Bark River 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 Bark River'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 Bark River 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
Bark River, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.26%
Estimate Property Tax Bill
$328
Ownwell’s Bark River Property Tax Bill Calculator is a valuable tool for any homeowner, real estate investor, or potential owner looking to estimate their annual property taxes in Bark River. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Bark River to provide an estimate of your property tax bill. This insightful tool can help you understand potential tax liabilities with ease. For those interested in more detailed trends at a neighborhood level, there is additional localized information available further down the page. Your property’s assessed value, determined by Menominee County, is used for property tax calculations and may include applicable exemptions.
Property Tax Rates Across Bark River, Michigan
Property taxes in Bark River, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bark River is 0.26%, which is significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Bark River set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bark River 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 Bark River'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 significantly higher than Bark River's 0.26%, while other areas within Menominee County can also show varying rates. Understanding how these cities compare with Bark River provides valuable insights into the varying tax landscape across Menominee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bark River Tax Rate
0.26%
Average Menominee County Tax Rate
0.31%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bark River, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49807 | 0.14% | 0.20% | 0.26% | 0.34% | 0.39% |
Source: Ownwell
Property Tax Assessment Values Across Bark River, Michigan
In Bark River, 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 Menominee 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 Bark River, 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 Bark River helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Bark River is $321 in the 49807 zip code, which is also the lowest median tax bill.
Average Bark River Assessed Value
$126,064
Average Menominee County Assessed Value
$92,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bark River, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49807 | $54,211 | $84,378 | $126,064 | $162,392 | $214,350 |
Source: Ownwell
Property Tax Bills Across Bark River, Michigan
In Bark River, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value typically reflects a percentage of the property's market value. For homeowners in Bark River, the median home price is $126,064. Property tax bills can vary significantly, with the 25th percentile tax bill at $206 and the 75th percentile tax bill at $459, while the 90th percentile reaches up to $590. Several factors influence the final tax bill, including the property's assessed value, any applicable exemptions, and the local tax rate. The highest median tax bill in the area is $321, which is consistent across the zip code 49807. When compared to the national median property tax rate of 0.99%, Bark River's property tax bills can be considered relatively moderate, affecting homeowners by providing a predictable annual expense that contributes to local services and infrastructure. Understanding these elements can help homeowners anticipate their property tax obligations more accurately.
Average Bark River Tax Bill
$321
Average Menominee County Tax Bill
$274
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Bark River, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49807 | $86 | $206 | $321 | $459 | $590 |
Source: Ownwell