Tawas City, Iosco County, Michigan Property Taxes

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

Median Tawas City, MI effective property tax rate: 2.31%, significantly higher than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Tawas City, MI home value: $60,050
Median annual Tawas City, MI tax bill: $1,319, $1,081 lower than the national median property tax bill of $2,400.

How are property taxes in Iosco calculated?

Property taxes in Tawas City, 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 Tawas City’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Tawas City, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Tawas City, Iosco County, Michigan Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.05%

Estimate Property Tax Bill

$1,653

$1,534

Ownwell’s Tawas City Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Tawas City with just two data points.

By entering your property's estimated assessed value, our calculator applies Tawas City’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 Iosco County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Tawas City, Iosco County, Michigan

Local government entities determine tax rates, which can differ significantly within a state. This variation arises because each county annually estimates its required budget to provide essential 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 essentially the annual process.

In Tawas City, located in Iosco County, Michigan, the effective property tax rate stands out when compared to other cities within the state. With a median property tax rate of 2.31%, Tawas City exceeds both the state and national median property tax rates. The national median property tax rate is 1.02%, highlighting the distinctiveness of Tawas City's rate. This higher rate reflects the local government's budgeting needs and the value of taxable property in the area. Understanding these differences can help property owners make informed decisions about their investments and potential savings through property tax appeals or exemptions. Comparing Tawas City's rate to the broader state and national figures underscores the importance of exploring property tax consulting services to navigate these complexities effectively.

Property Tax Rates Across Tawas City, Iosco County, Michigan

Source: Ownwell

0.83%

1.08%

1.33%

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 Tawas City Tax Rate

1.05%

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 Tawas City, Iosco County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
48763	0.66%	0.78%	1.05%	1.46%	1.90%

Source: Ownwell

Property Tax Assessment Values Across Tawas City, Iosco County, Michigan

When examining property taxes in Tawas City, 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 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 Tawas City. For example, the median home price in Tawas City is $60,050, with tax bills ranging significantly across the county. 48763 has the highest median home price at $60,100.

Property Tax Assessment Values Across Tawas City, Iosco County, Michigan

Source: Ownwell

$86,100

$146,050

$206,000

Median Tawas City Market Value

$157,400

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 Tawas City, Iosco County, Michigan

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
48763	$52,500	$98,200	$157,400	$248,150	$365,600

Source: Ownwell

Property Tax Bills Across Tawas City, Iosco County, Michigan

In Tawas City, located in Iosco County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in this region is $60,050. Homeowners here face property tax bills that can vary significantly, with the 25th percentile at $847 and the 75th percentile reaching $2,068. For those in the 90th percentile, the tax bill can be as high as $3,703. Compared to the national median property tax bill of $2,400, Tawas City presents a range of tax burdens for its residents. Factors influencing these bills include local tax rates and property assessments. High property taxes can place a financial strain on homeowners, especially in areas where the tax bill exceeds the national median. Ownwell can assist homeowners in Tawas City by providing expert property tax appeal services, potentially reducing their tax burden and ensuring they pay only what is fair. By leveraging local market knowledge and tax expertise, Ownwell helps homeowners save money on their property tax bills.

Property Tax Bills Across Tawas City, Iosco County, Michigan

Source: Ownwell

$733

$1,551

$2,369

Median Tawas City Tax Bill

$1,570

Median Iosco County Tax Bill

$1,419

Median Michigan Tax Bill

$2,084

Median United States Tax Bill

$2,400

Property Tax Bills Across Tawas City, Iosco County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
48763	$464	$972	$1,570	$2,582	$4,515

Source: Ownwell