Atlantic Mine, Houghton County, Michigan Property Taxes
Median Atlantic Mine, MI effective property tax rate: 0.62%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Atlantic Mine, MI home value: $114,554
Median annual Atlantic Mine, MI tax bill: $842, $1,558 lower than the national median property tax bill of $2,400.
How are property taxes in Houghton calculated?
Property taxes in Atlantic Mine, 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 Atlantic Mine’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Atlantic Mine, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Atlantic Mine, Houghton County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.62%
Estimate Property Tax Bill
$710
$659
Property Tax Rates Across Atlantic Mine, Houghton County, Michigan
Local government entities determine property tax rates, which can vary significantly within a state. This variation is due to each county's annual process of estimating its budget needs for providing services and dividing that by the total value of all taxable property in its jurisdiction. This calculation results in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is the basic annual procedure.
In Atlantic Mine, located in Houghton County, Michigan, the effective property tax rate is 0.62%. This is notably lower than the national median property tax rate of 1.02%. Compared to other cities in Michigan, Atlantic Mine's rate is consistent, as it represents both the highest and lowest median tax rate in its ZIP code. When considering the national median property tax bill of $2,400, residents in Atlantic Mine benefit from a more favorable tax environment. This lower rate can be particularly appealing to homeowners looking for affordability in their property tax obligations.
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 Atlantic Mine Tax Rate
0.62%
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 Houghton County Tax Rate
0.94%
Median Effective Michigan Tax Rate
1.07%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Atlantic Mine, Houghton County, Michigan
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
49905 | 0.30% | 0.44% | 0.62% | 1.09% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Atlantic Mine, Houghton County, Michigan
When examining property taxes in Atlantic Mine, 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 Houghton 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 Houghton County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Atlantic Mine.
For example, the median home price in Atlantic Mine is $114,554, with tax bills ranging significantly across the county. Zip code 49905 has the highest median home price at $114,554.
Property Tax Assessment Values Across Atlantic Mine, Houghton County, Michigan
Source: Ownwell
$9,600
$82,334
$155,067
Median Atlantic Mine Market Value
$114,554
Median Houghton County Market Value
$95,531
Median Michigan Market Value
$177,800
Median United States Market Value
$235,294
Property Tax Assessment Values Across Atlantic Mine, Houghton County, Michigan
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
49905 | $37,072 | $60,938 | $114,554 | $205,600 | $318,200 |
Source: Ownwell
Property Tax Bills Across Atlantic Mine, Houghton County, Michigan
Median Atlantic Mine Tax Bill
$842
Median Houghton County Tax Bill
$879
Median Michigan Tax Bill
$1,795
Median United States Tax Bill
$2,400
Property Tax Bills Across Atlantic Mine, Houghton County, Michigan
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
49905 | $234 | $457 | $842 | $1,384 | $2,065 |
Source: Ownwell