Ida, Monroe County, Michigan Property Taxes
Median IDA, MI effective property tax rate: 0.90%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median IDA, MI home value: $210,200
Median annual IDA, MI tax bill: $1,973, $427 lower than the national median property tax bill of $2,400.
How are property taxes in Monroe calculated?
Property taxes in IDA, 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 IDA’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in IDA, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Ida, Monroe County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.9%
Estimate Property Tax Bill
$1,892
$1,756
Property Tax Rates Across Ida, Monroe County, Michigan
Local government entities are responsible for setting tax rates, leading to significant variations within a state. Each year, county officials estimate the budget needed to provide essential services and then divide this figure by the total assessed value of all taxable property within the county. This calculation yields the property tax rate. While voting and legal regulations play roles in determining tax rates and budgets, this is essentially how rates are set annually.
In Ida, located in Monroe County, Michigan, you can compare the effective property tax rate to other cities within the state and national averages. Ida's median property tax rate stands at 0.90%, which is below the national median property tax rate of 1.02%. This lower rate can be advantageous for property owners in Ida, potentially resulting in lower annual tax bills compared to the national median property tax bill of $2,400. Understanding these rates can help property owners make informed decisions about property tax appeals and exemptions, ensuring they are not overpaying on their tax obligations.
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 Ida Tax Rate
0.90%
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 Monroe County Tax Rate
1.21%
Median Effective Michigan Tax Rate
1.07%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Ida, Monroe County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48140 | 0.79% | 0.84% | 0.90% | 1.03% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Ida, Monroe County, Michigan
When examining property taxes in IDA, 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 Monroe County assessment 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 Monroe 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 IDA.
For example, the median home price in IDA is $210,200, with tax bills ranging significantly across the county. Zip code 48140 has the highest median home price at $210,200.
Property Tax Assessment Values Across Ida, Monroe County, Michigan
Source: Ownwell
$112,800
$175,400
$238,000
Median Ida Market Value
$210,200
Median Monroe County Market Value
$165,800
Median Michigan Market Value
$177,800
Median United States Market Value
$235,294
Property Tax Assessment Values Across Ida, Monroe County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48140 | $105,144 | $148,800 | $210,200 | $288,400 | $382,240 |
Source: Ownwell
Property Tax Bills Across Ida, Monroe County, Michigan
In Ida, MI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is typically a percentage of the property's market value. Homeowners in Monroe County can expect a median property tax bill of $1,973, which is below the national median of $2,400. Factors such as property improvements, neighborhood changes, and local tax rates influence the final tax bill. For some, like those in the 90th percentile, property tax bills can reach up to $3,567, reflecting higher property values or rates.
These tax bills can significantly impact homeowners' finances, making it crucial to ensure they are fair and accurate. Ownwell offers services to help homeowners appeal their property tax assessments, potentially lowering their tax bills. By analyzing property data and providing expert guidance, Ownwell ensures that homeowners pay only their fair share, offering peace of mind and potential savings. This can make a substantial difference in managing yearly expenses for residents of Ida.
Median Ida Tax Bill
$1,973
Median Monroe County Tax Bill
$2,179
Median Michigan Tax Bill
$1,795
Median United States Tax Bill
$2,400
Property Tax Bills Across Ida, Monroe County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48140 | $1,028 | $1,446 | $1,973 | $2,699 | $3,567 |
Source: Ownwell