Newberry, Luce County, Michigan Property Taxes
Median Newberry, MI effective property tax rate: 0.93%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Newberry, MI home value: $58,000
Median annual Newberry, MI tax bill: $597, $1,803 lower than the national median property tax bill of $2,400.
How are property taxes in Luce calculated?
Property taxes in Newberry, 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 Newberry’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Newberry, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Newberry, Luce County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.93%
Estimate Property Tax Bill
$539
$501
Property Tax Rates Across Newberry, Luce County, Michigan
Local government entities set tax rates, which can vary widely within a state. This is 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, resulting 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.
In Newberry, located in Luce County, Michigan, the effective property tax rate aligns with the county's median tax rate of 0.93%, which is notably below the national median property tax rate of 1.02%. This figure highlights the relatively lower property tax burden in this region compared to the national average. While Michigan's property tax rates can vary, Newberry's rate reflects the county's budgetary needs and property values.
For homeowners in Newberry, understanding how these rates are determined can provide valuable insight into their property tax bills. With the national median property tax bill at $2400, Newberry residents may find their tax obligations to be more manageable, offering a financial advantage in comparison to other regions across the United 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 Newberry Tax Rate
0.93%
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 Luce County Tax Rate
0.96%
Median Effective Michigan Tax Rate
1.07%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Newberry, Luce County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49868 | 0.55% | 0.70% | 0.93% | 1.45% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Newberry, Luce County, Michigan
When examining property taxes in Newberry, 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 Luce 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 Luce 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 Newberry. For example, the median home price in Newberry is $58,000, with tax bills ranging significantly across the county. 49868 has the highest median home price at $58,000.
Property Tax Assessment Values Across Newberry, Luce County, Michigan
Source: Ownwell
$58,000
$74,750
$91,500
Median Newberry Market Value
$58,000
Median Luce County Market Value
$65,400
Median Michigan Market Value
$177,800
Median United States Market Value
$235,294
Property Tax Assessment Values Across Newberry, Luce County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49868 | $13,000 | $31,600 | $58,000 | $93,400 | $136,080 |
Source: Ownwell
Property Tax Bills Across Newberry, Luce County, Michigan
Median Newberry Tax Bill
$597
Median Luce County Tax Bill
$597
Median Michigan Tax Bill
$1,795
Median United States Tax Bill
$2,400
Property Tax Bills Across Newberry, Luce County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49868 | $205 | $359 | $597 | $955 | $1,486 |
Source: Ownwell