Missaukee County, Michigan Property Taxes
The median property tax rate in Missaukee County is 0.95%, which is slightly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Missaukee County, the typical annual property tax bill is approximately $1,099, significantly less than the national median of $2,690. Property taxes in Missaukee County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions, such as the primary residence and agricultural exemptions. Understanding Missaukee 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 Lake City or another part of Missaukee County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Missaukee County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$1,117
$1,037
Ownwell’s Missaukee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Missaukee with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Missaukee 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 Missaukee County, Michigan
Property taxes in Missaukee play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Missaukee is 0.95%, which is lower than the U.S. national median of 0.99%. Local government entities within Missaukee set these rates annually, and they can vary significantly between different areas within the county. Each year, Missaukee 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 Missaukee's effective property tax rate with other counties in Michigan and the national median. For comparison, the city of Hemlock has one of the higher property tax rates in Michigan at 1.23%, while the city of Marion boasts one of the lowest at 0.70%. Analyzing how Missaukee's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Missaukee County Tax Rate
0.95%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Missaukee County, Michigan
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cadillac | 0.61% | 0.68% | 0.78% | 1.11% | 1.70% |
| Falmouth | 0.56% | 0.68% | 0.89% | 1.25% | 1.55% |
| Fife Lake | 0.65% | 0.78% | 1.23% | 1.46% | 1.92% |
| Hemlock | N/A | N/A | N/A | N/A | N/A |
| Lake City | 0.68% | 0.81% | 1.06% | 1.44% | 1.74% |
| Manton | 0.57% | 0.76% | 0.92% | 1.26% | 1.61% |
| Marion | 0.31% | 0.49% | 0.70% | 0.89% | 1.14% |
| Mc Bain | 0.41% | 0.61% | 0.77% | 0.98% | 1.35% |
| Merritt | 0.63% | 0.77% | 0.98% | 1.37% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Missaukee County, Michigan
In Missaukee 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 Missaukee 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 Missaukee 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. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Missaukee County's median home price is $117,600, with median tax bills ranging significantly. Cadillac has the highest median tax bill at $1,204, while Hemlock has the lowest at $693. Being aware of these valuation processes in Missaukee County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Missaukee County, Michigan
Source: Ownwell
$98,300
$125,850
$153,400
Average Missaukee County Assessed Value
$117,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Missaukee County, Michigan
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cadillac | $32,000 | $78,700 | $135,800 | $209,300 | $299,400 |
| Falmouth | $28,600 | $57,950 | $104,200 | $177,800 | $292,240 |
| Fife Lake | $41,080 | $60,150 | $119,900 | $205,400 | $240,120 |
| Hemlock | N/A | N/A | N/A | N/A | N/A |
| Lake City | $33,920 | $60,800 | $114,600 | $201,800 | $326,360 |
| Manton | $34,080 | $61,000 | $100,000 | $182,750 | $272,940 |
| Marion | $43,560 | $91,400 | $153,400 | $253,800 | $372,120 |
| Mc Bain | $31,000 | $80,000 | $141,400 | $233,400 | $371,200 |
| Merritt | $27,620 | $51,700 | $98,300 | $167,900 | $255,760 |
Source: Ownwell
Property Tax Bills Across Missaukee County, Michigan
In Missaukee County, MI, property tax bills are calculated based on the assessed value of a home, which is typically 50% of its market value. For example, with a median home price of $117,600, the assessed value would be approximately $58,800. The local tax rate is then applied to this assessed value to determine the annual tax bill. Various factors influence the final tax bill, including local government budgets, school district funding needs, and specific levies for services like fire protection or road maintenance. Homeowners in Missaukee County experience a range of tax bills. At the 25th percentile, the tax bill is around $610, whereas at the 75th percentile, it rises to approximately $1,885. For those in the 90th percentile, the tax bill can reach up to $3,378. Comparatively, Cadillac has the highest median tax bill at $1,204, while Hemlock has the lowest at $693. These variations can significantly impact homeowners' finances, making it crucial to understand how property taxes are calculated and managed.
Average Missaukee County Tax Bill
$1,099
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Missaukee County, Michigan
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cadillac | $442 | $788 | $1,204 | $1,677 | $2,415 |
| Falmouth | $262 | $527 | $914 | $1,494 | $2,494 |
| Fife Lake | $471 | $784 | $1,119 | $2,108 | $3,908 |
| Hemlock | N/A | N/A | N/A | N/A | N/A |
| Lake City | $353 | $651 | $1,181 | $2,100 | $3,899 |
| Manton | $346 | $570 | $979 | $1,601 | $2,590 |
| Marion | $201 | $515 | $968 | $1,775 | $2,865 |
| Mc Bain | $280 | $614 | $1,131 | $1,814 | $2,828 |
| Merritt | $296 | $530 | $970 | $1,714 | $2,730 |
Source: Ownwell