Marenisco, Ontonagon County, Michigan Property Taxes
Median MARENISCO, MI effective property tax rate: 0.66%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median MARENISCO, MI home value: $164,200
Median annual MARENISCO, MI tax bill: $1,007, $1,393 lower than the national median property tax bill of $2,400.
How are property taxes in Ontonagon calculated?
Property taxes in MARENISCO, 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 MARENISCO’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in MARENISCO, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Marenisco, Ontonagon County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.66%
Estimate Property Tax Bill
$1,084
$1,006
Property Tax Rates Across Marenisco, Ontonagon County, Michigan
Local government entities set tax rates, which can vary widely within a state. This is because each county annually 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.
In MARENISCO, located in Ontonagon County, MI, the effective property tax rate is 0.66%, which is significantly below the national median of 1.02%. This lower rate can be an attractive factor for property owners in the area, offering a more affordable property tax bill compared to the national median property tax bill of $2400.
By understanding these local rates, property owners can better assess their financial obligations and make informed decisions. MARENISCO's property tax rate is not only competitive within Michigan but also offers a substantial advantage over the national average. This presents an opportunity for potential homeowners and investors to consider the financial benefits of owning property in this region.
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 Marenisco Tax Rate
0.66%
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 Ontonagon County Tax Rate
0.86%
Median Effective Michigan Tax Rate
1.07%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Marenisco, Ontonagon County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49947 | 0.39% | 0.52% | 0.66% | 0.72% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Marenisco, Ontonagon County, Michigan
When examining property taxes in MARENISCO, 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 Ontonagon 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 Ontonagon 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 MARENISCO. For example, the median home price in MARENISCO is $164,200, with tax bills ranging significantly across the county. The zip code 49947 has the highest median home price at $164,200.
Property Tax Assessment Values Across Marenisco, Ontonagon County, Michigan
Source: Ownwell
$44,260
$104,230
$164,200
Median Marenisco Market Value
$164,200
Median Ontonagon County Market Value
$68,300
Median Michigan Market Value
$177,800
Median United States Market Value
$235,294
Property Tax Assessment Values Across Marenisco, Ontonagon County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49947 | $60,350 | $99,275 | $164,200 | $242,350 | $323,500 |
Source: Ownwell
Property Tax Bills Across Marenisco, Ontonagon County, Michigan
In MARENISCO, located in Ontonagon County, MI, property tax bills are determined by assessing the market value of a home and applying the local tax rate. With a median home price of $164,200, property tax bills vary significantly, ranging from the 25th percentile at $568 to the 90th percentile at $2,537. The median tax bill here is $1,007, considerably lower than the national median of $2,400. This discrepancy highlights the relatively low property tax burden for homeowners in this area. Factors influencing the tax bill include the assessed value of the property and applicable exemptions. Homeowners may find their tax bills affected by changes in property value or local tax rates.
Ownwell assists homeowners by identifying potential savings opportunities through property tax appeals and exemptions. Our expertise ensures that homeowners pay only their fair share, potentially reducing their tax burden. By leveraging local knowledge and industry expertise, Ownwell helps homeowners navigate the complexities of property taxes, ensuring they benefit from any available reductions.
Median Marenisco Tax Bill
$1,007
Median Ontonagon County Tax Bill
$577
Median Michigan Tax Bill
$1,795
Median United States Tax Bill
$2,400
Property Tax Bills Across Marenisco, Ontonagon County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49947 | $401 | $568 | $1,007 | $1,585 | $2,537 |
Source: Ownwell