South Branch, Iosco County, Michigan Property Taxes
Median South Branch, MI effective property tax rate: 2.72%, significantly higher than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median South Branch, MI home value: $47,500
Median annual South Branch, MI tax bill: $1,084, $1,316 lower than the national median property tax bill of $2,400.
How are property taxes in Iosco County calculated?
Property taxes in South Branch, 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 South Branch’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in South Branch, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
South Branch, Iosco County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.08%
Estimate Property Tax Bill
$1,378
$1,279
Property Tax Rates Across South Branch, Iosco County, Michigan
Local government entities set tax rates, which can vary widely within a state. This variation is due to the annual process where each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the fundamental process.
In South Branch, located in Iosco County, Michigan, the effective property tax rate is notably higher than the national median property tax rate of 1.02%. With South Branch's rate at 2.72%, it stands out not only within Michigan but also compared to the national landscape. This higher rate reflects the county's budgetary needs and the value of taxable properties in the area. While Michigan itself has varying rates across different counties, South Branch's rate remains consistent with Iosco County's highest and lowest median tax rates. This illustrates the local government's approach to balancing service provision with property tax assessments, ensuring that community needs are met while maintaining fiscal responsibility.
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 South Branch Tax Rate
1.08%
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 Iosco County Tax Rate
1.10%
Median Effective Michigan Tax Rate
1.05%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across South Branch, Iosco County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48761 | 0.62% | 0.77% | 1.08% | 1.28% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across South Branch, Iosco County, Michigan
When examining property taxes in South Branch, 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 Iosco 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 Iosco County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 South Branch. For example, the median home price in South Branch is $47,500, with tax bills ranging significantly across the county. Zip code 48761 has the highest median home price at $47,500.
Property Tax Assessment Values Across South Branch, Iosco County, Michigan
Source: Ownwell
$86,100
$146,050
$206,000
Median South Branch Market Value
$127,600
Median Iosco County Market Value
$135,400
Median Michigan Market Value
$213,740
Median United States Market Value
$235,294
Property Tax Assessment Values Across South Branch, Iosco County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48761 | $37,880 | $63,200 | $127,600 | $217,400 | $321,040 |
Source: Ownwell
Property Tax Bills Across South Branch, Iosco County, Michigan
Median South Branch Tax Bill
$1,266
Median Iosco County Tax Bill
$1,419
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across South Branch, Iosco County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48761 | $439 | $680 | $1,266 | $2,091 | $2,991 |
Source: Ownwell