Tower, Cheboygan County, Michigan Property Taxes

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

Median Tower, MI effective property tax rate: 0.25%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%. Median Tower, MI home value: $39,700. Median annual Tower, MI tax bill: $113, $2,287 lower than the national median property tax bill of $2,400. How are property taxes in Cheboygan calculated? Property taxes in Tower, MI 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 Tower’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Tower, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Tower, Cheboygan County, Michigan Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.71%

Estimate Property Tax Bill

$2,479

$2,301

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

Property Tax Rates Across Tower, Cheboygan County, Michigan

Local government entities are responsible for setting tax rates, which can differ significantly within a state. Each year, counties estimate their necessary budget for providing services and divide this by the total value of all taxable properties within their jurisdiction. This process determines the property tax rate. Although votes and legislation play a role in setting these rates and budgets, this is essentially the annual procedure.

In Tower, located in Cheboygan County, Michigan, the effective property tax rate is notably lower than both the state and national medians. With a median tax rate of 0.25%, Tower residents enjoy a more favorable tax rate compared to the U.S. median property tax rate of 1.02%. This lower rate can be particularly beneficial for homeowners, offering significant savings on annual property tax bills. When compared to other cities in Michigan, Tower's tax rate stands out as an attractive feature for potential property buyers or investors looking for a cost-effective location. Understanding these local tax dynamics is crucial for making informed decisions about property investments in the area.

Property Tax Rates Across Tower, Cheboygan County, Michigan

Source: Ownwell

0.67%

0.96%

1.25%

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 Tower Tax Rate

0.71%

Median Effective Cheboygan County Tax Rate

0.86%

Median Effective Michigan Tax Rate

1.05%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Tower, Cheboygan County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
49792	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Tower, Cheboygan County, Michigan

When examining property taxes in Tower, MI, 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 Cheboygan County appraisal district 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. In Cheboygan County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Tower. For example, the median home price in Tower is $39,700, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Tower, Cheboygan County, Michigan

Source: Ownwell

$126,200

$495,050

$863,900

Median Tower Market Value

$349,200

Median Cheboygan County Market Value

$193,800

Median Michigan Market Value

$213,740

Median United States Market Value

$235,294

Property Tax Assessment Values Across Tower, Cheboygan County, Michigan

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
49792	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Tower, Cheboygan County, Michigan

In Tower, located in Cheboygan County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Tower is $39,700. Once the assessed value is established, the property tax rate is applied to calculate the tax bill. In this region, tax bills can vary widely; for example, at the 25th percentile, homeowners might see a tax bill as low as $60, while those at the 90th percentile could pay up to $197. Compared to the national median property tax bill of $2,400, homeowners in Tower generally pay significantly less. However, even these lower bills can impact homeowners, especially if the assessed value is inaccurately high or if exemptions are not applied. Ownwell offers valuable services to help homeowners appeal their property tax assessments and secure exemptions. By ensuring assessments are accurate and exploring available exemptions, Ownwell can help homeowners in Tower potentially reduce their property tax bills, providing peace of mind and financial relief.

Property Tax Bills Across Tower, Cheboygan County, Michigan

Source: Ownwell

$1,025

$4,636

$8,246

Median Tower Tax Bill

$2,470

Median Cheboygan County Tax Bill

$1,565

Median Michigan Tax Bill

$2,084

Median United States Tax Bill

$2,400

Property Tax Bills Across Tower, Cheboygan County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
49792	N/A	N/A	N/A	N/A	N/A

Source: Ownwell