Cedar River, Menominee County, Michigan Property Taxes
Median Cedar River, MI effective property tax rate: 0.36%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Cedar River, MI home value: $114,600
Median annual Cedar River, MI tax bill: $359, $2,041 lower than the national median property tax bill of $2,400.
How are property taxes in Menominee calculated?
Property taxes in Cedar River, 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 Cedar River’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Cedar River, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Cedar River, Menominee County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.36%
Estimate Property Tax Bill
$413
$383
Property Tax Rates Across Cedar River, Menominee County, Michigan
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 Cedar River Tax Rate
0.36%
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 Menominee County Tax Rate
0.31%
Median Effective Michigan Tax Rate
1.07%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Cedar River, Menominee County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49887 | 0.18% | 0.26% | 0.36% | 0.45% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Cedar River, Menominee County, Michigan
When examining property taxes in Cedar River, 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 Menominee 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 Menominee County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of the season. 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 Cedar River. For example, the median home price in Cedar River is $114,600, with tax bills ranging significantly across the county. Zip code 49887 has the highest median home price at $114,600.
Property Tax Assessment Values Across Cedar River, Menominee County, Michigan
Source: Ownwell
$51,400
$88,732
$126,064
Median Cedar River Market Value
$114,600
Median Menominee County Market Value
$92,200
Median Michigan Market Value
$177,800
Median United States Market Value
$235,294
Property Tax Assessment Values Across Cedar River, Menominee County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49887 | $31,200 | $66,550 | $114,600 | $175,450 | $288,660 |
Source: Ownwell
Property Tax Bills Across Cedar River, Menominee County, Michigan
In Cedar River, located in Menominee County, MI, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. Homeowners in Cedar River face varying tax bills, with the 25th percentile at $209 and the 75th percentile at $629, reflecting differences in property values and tax rates. The median tax bill in the area is notably lower than the national median of $2400, providing some financial relief for homeowners. However, tax bills can still be a burden, especially for those at the 90th percentile, facing bills as high as $1055.
Ownwell can assist homeowners in Cedar River by offering property tax appeal and exemption services. By analyzing individual property assessments and identifying potential discrepancies, Ownwell helps ensure homeowners are not overpaying. This service can lead to significant savings, reducing the financial strain of property taxes and helping homeowners manage their expenses more effectively.
Median Cedar River Tax Bill
$359
Median Menominee County Tax Bill
$274
Median Michigan Tax Bill
$1,795
Median United States Tax Bill
$2,400
Property Tax Bills Across Cedar River, Menominee County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49887 | $114 | $209 | $359 | $629 | $1,055 |
Source: Ownwell