Iron River, Iron County, Michigan Property Taxes
Property Taxes in Iron River, Michigan
Median Iron River, Michigan effective property tax rate: 1.33%, significantly higher than the national median of 1.02%, and higher than the Michigan state median of 1.05%.
Median Iron River, Michigan home value: $103,020
Median annual Iron River, Michigan tax bill: $813, lower than the national median property tax bill of $2,400.
How are property taxes in Iron County calculated?
Property taxes in Iron River, Michigan 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 Iron River's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Iron River, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Iron River, Iron County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.33%
Estimate Property Tax Bill
$1,370
$1,271
How Does the Iron River Property Tax Calculator Work?
Use this Iron River property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Iron River's median effective tax rate of 1.33% — based on actual property records in Iron County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessor uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Iron River's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Iron River: rates range from 1.33% in 49935 to 1.33% in 49935, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Iron River.
About Iron River Property Taxes
About Property Taxes in Iron River, Iron, Michigan
Iron River's median effective property tax rate of 1.33% is higher than the Michigan state median of 1.05% and higher than the national median of 1.02%. This rate reflects the Iron County base levy combined with local school district levies and Tax increment finance districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Iron River. Homeowners in the 49935 ZIP code carry a median effective rate of 1.33%, while those in 49935 pay 1.33%. This spread — 0 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Iron County. Understanding which part of Iron River you live in can make a meaningful difference to your annual tax bill.
Iron River homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the March 9, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Iron River, Iron County, Michigan
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because 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.
Below, you can compare Iron River's effective property tax rate to other cities in Michigan and the median property tax rates in Michigan and the U.S.
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 River Tax Rate
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 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 Iron River, Iron County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49935 | 0.24% | 0.47% | 1.33% | 1.90% | 2.48% |
Source: Ownwell
Property Tax Assessment Values Across Iron River, Iron County, Michigan
When examining property taxes in Iron River, 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 assessor 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.
Assessment notices:
In Iron County, assessment notices are sent in February each year.
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 Iron River.
For example, the median home price in Iron River is $103,020, with tax bills ranging significantly across the county. 49935 has the highest median home price at $103,020.
Property Tax Assessment Values Across Iron River, Iron County, Michigan
Source: Ownwell
$50,180
$106,100
$162,020
Median Iron River Market Value
$103,020
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 Iron River, Iron County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49935 | $33,644 | $60,600 | $103,020 | $187,424 | $315,800 |
Source: Ownwell
Property Tax Bills Across Iron River, Iron County, Michigan
Property tax bills in Iron River are calculated from the assessed value of a home and the local tax rate set by the county and other taxing authorities. The assessed value is based on the market value of the property, and that figure is multiplied by the applicable tax rate to determine the annual bill. For homeowners, this means a higher assessed value generally leads to a higher property tax bill, while a lower assessed value can reduce what is owed.
In Iron River, the median home price is $103,020, and the median property tax bill is $813, which is below the national median property tax bill of $2,400. The 25th percentile tax bill is $316, while the 75th percentile is $1,335 and the 90th percentile is $2,176. These differences show how property taxes can vary based on a home’s assessed value and location within the city.
Median Iron River Tax Bill
$813
Median Iron County Tax Bill
$781
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across Iron River, Iron County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49935 | $104 | $316 | $813 | $1,335 | $2,176 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | March 9 |
Links | |
|---|---|
| Iron Tax Assessor | |
| Website | bsaonline.com |