Amasa, Iron County, Michigan Property Taxes
Median Amasa, MI effective property tax rate: 0.50%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Amasa, MI home value: $41,220
Median annual Amasa, MI tax bill: $192, $2,208 lower than the national median property tax bill of $2,400.
How are property taxes in Iron calculated?
Property taxes in Amasa, 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 Amasa’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Amasa, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Amasa, Iron County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.96%
Estimate Property Tax Bill
$617
$572
Property Tax Rates Across Amasa, Iron County, Michigan
Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
You can compare Amasa’s effective property tax rate to other cities in Michigan and the median property tax rates in Michigan and the U.S. In Amasa, located in Iron County, the effective property tax rate stands at 0.50%, which is significantly lower than the national median property tax rate of 1.02%. This means that homeowners in Amasa may find themselves paying less in property taxes compared to the national average. The lower tax rate can be an attractive factor for potential homebuyers looking for affordable property tax options. With this competitive rate, Amasa offers a financial advantage for residents, making it an appealing location for those considering relocation within Michigan or from other states.
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 Amasa Tax Rate
0.96%
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 Iron County Tax Rate
1.29%
Median Effective Michigan Tax Rate
1.05%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Amasa, Iron County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49903 | 0.26% | 0.56% | 0.96% | 1.61% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Amasa, Iron County, Michigan
When examining property taxes in Amasa, Michigan, 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 Iron 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 Iron 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 Amasa. For example, the median home price in Amasa is $41,220, with tax bills ranging significantly across the county. Zip code 49903 has the highest median home price at $41,220.
Property Tax Assessment Values Across Amasa, Iron County, Michigan
Source: Ownwell
$50,180
$106,100
$162,020
Median Amasa Market Value
$64,250
Median Iron County Market Value
$103,000
Median Michigan Market Value
$213,740
Median United States Market Value
$235,294
Property Tax Assessment Values Across Amasa, Iron County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49903 | $14,370 | $34,445 | $64,250 | $110,430 | $167,390 |
Source: Ownwell
Property Tax Bills Across Amasa, Iron County, Michigan
Median Amasa Tax Bill
$473
Median Iron County Tax Bill
$781
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across Amasa, Iron County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49903 | $182 | $278 | $473 | $888 | $1,310 |
Source: Ownwell