Michigamme, Schoolcraft County, Michigan Property Taxes
Median Michigamme, MI effective property tax rate: 0.97%, significantly lower than the national median of 1.02%, and lower than the Michigan state median of 1.05%.
Median Michigamme, MI home value: $330,400
Median annual Michigamme, MI tax bill: $3,247, $847 higher than the national median property tax bill of $2,400.
How are property taxes in Schoolcraft County calculated?
Property taxes in Michigamme, 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 Michigamme's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Michigamme, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Michigamme, Schoolcraft County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.97%
Estimate Property Tax Bill
$3,205
$2,974
Ownwell’s Michigamme Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Michigamme with just two data points.
By entering your property's estimated assessed value, our calculator applies Michigamme’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.
This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Schoolcraft County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Michigamme, Schoolcraft County, Michigan
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 Michigamme’s effective property tax rate to other cities in Michigan and the median property tax rates in Michigan and the U.S. Michigamme, located in Marquette County, has a property tax rate of 0.97%, which aligns with the state median. This rate is slightly below the national median of 1.02%, offering some relief to residents compared to other parts of the country. Additionally, within the county, Michigamme's tax rate is considered lower than some neighboring areas, making it an attractive place for property owners concerned about tax expenses. Overall, Michigamme provides a balanced approach to property taxation, reflecting the local government's efforts to maintain services without imposing excessive tax burdens.
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 Michigamme Tax Rate
0.97%
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 Schoolcraft County Tax Rate
1.00%
Median Effective Michigan Tax Rate
1.05%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Michigamme, Schoolcraft County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49861 | 0.68% | 0.90% | 0.97% | 1.49% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Michigamme, Schoolcraft County, Michigan
When examining property taxes in Michigamme, 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 Schoolcraft 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 Schoolcraft 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 Michigamme. For example, the median home price in Michigamme is $330,400, with tax bills ranging significantly across the county. Zip code 49861 has the highest median home price at $330,400.
Property Tax Assessment Values Across Michigamme, Schoolcraft County, Michigan
Source: Ownwell
$87,200
$208,800
$330,400
Median Michigamme Market Value
$330,400
Median Schoolcraft County Market Value
$118,200
Median Michigan Market Value
$213,740
Median United States Market Value
$235,294
Property Tax Assessment Values Across Michigamme, Schoolcraft County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49861 | $183,200 | $245,800 | $330,400 | $402,200 | $517,280 |
Source: Ownwell
Property Tax Bills Across Michigamme, Schoolcraft County, Michigan
In Michigamme, located in Schoolcraft County, MI, property tax bills are determined by assessing the property's market value and applying the local tax rate. The median home price in this area is $330,400, and the property tax rate is applied to this assessed value to calculate the tax bill. Factors influencing the tax bill include property size, location, and improvements. Homeowners in Michigamme face a median tax bill of $3,247, which is notably higher than the national median property tax bill of $2,400. Tax bills in this area range from the 25th percentile at $2,102 to the 90th percentile at $6,624, reflecting the variation in property values and assessments.
Ownwell offers a valuable service to homeowners by providing expert property tax appeal and exemption services, potentially lowering their tax obligations. By analyzing property assessments and identifying discrepancies, Ownwell helps homeowners ensure they are not overpaying on their property taxes, offering peace of mind and financial savings.
Median Michigamme Tax Bill
$3,247
Median Schoolcraft County Tax Bill
$1,214
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across Michigamme, Schoolcraft County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49861 | $1,518 | $2,102 | $3,247 | $4,820 | $6,624 |
Source: Ownwell