Gaastra, Iron County, Michigan Property Taxes
Property Taxes in Gaastra, Michigan
Median Gaastra, Michigan effective property tax rate: 2.31%, significantly higher than the national median of 1.02%, and higher than the Michigan state median of 1.05%.
Median Gaastra, Michigan home value: $50,180
Median annual Gaastra, Michigan tax bill: $565, lower than the national median property tax bill of $2,400.
How are property taxes in Iron calculated?
Property taxes in Gaastra, Michigan 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 Gaastra's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Gaastra, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Gaastra, Iron County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.31%
Estimate Property Tax Bill
$1,159
$1,076
How Does the Gaastra Property Tax Calculator Work?
Use this Gaastra property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Gaastra's median effective tax rate of 2.31% — based on actual property records in Iron County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment process uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Gaastra's median effective rate across local levies, providing a more accurate estimate than using a single county rate.
Your bill may vary by ZIP code within Gaastra, though the available data shows the same median property tax bill of $565 in 49927. Gaastra's tax rate is higher than Michigan's 1.05% median rate, while the median bill is $1,835 lower than the state median property tax bill.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Gaastra.
About Gaastra Property Taxes
About Property Taxes in Gaastra, Iron, Michigan
Gaastra’s median effective property tax rate of 2.31% is higher than the Michigan state median of 1.05% and higher than the national median of 1.02%. This rate reflects the Iron County levy combined with local school district levies and tax increment finance districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Gaastra. Homeowners in ZIP code 49927 carry a median effective rate of 2.31%, while the lowest rate is also 2.31%. Understanding how your property is assessed can still make a meaningful difference to your annual tax bill.
Gaastra homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before March 9, 2026.
If your estimated bill seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Gaastra, Iron County, Michigan
As noted earlier, 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 Gaastra's effective property tax rate to other cities in Michigan and the median property tax rates in Michigan and the U.S.
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 Gaastra Tax Rate
2.31%
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 Iron County Tax Rate
1.29%
Median Effective Michigan Tax Rate
1.05%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Gaastra, Iron County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49927 | 0.26% | 1.06% | 2.31% | 3.28% | 4.68% |
Source: Ownwell
Property Tax Assessment Values Across Gaastra, Iron County, Michigan
When examining property taxes in Gaastra, 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 Iron County tax authority 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.
Assessment notices:
In Iron County, assessment notices are sent in February each year. They'll typically reach your mailbox by the middle of February.
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 Gaastra.
For example, the median home price in Gaastra is $50,180, with tax bills ranging significantly across the county. 49927 has the highest median home price at $50,180.
Property Tax Assessment Values Across Gaastra, Iron County, Michigan
Source: Ownwell
$50,180
$106,100
$162,020
Median Gaastra Market Value
$50,180
Median Iron County Market Value
$103,000
Median Michigan Market Value
$213,740
Median United States Market Value
$235,294
Property Tax Assessment Values Across Gaastra, Iron County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49927 | $3,780 | $25,180 | $50,180 | $88,660 | $171,800 |
Source: Ownwell
Property Tax Bills Across Gaastra, Iron County, Michigan
Property tax bills in Gaastra are based on the assessed value of a home, not its market price, and the local tax rate applied to that value. For a home with a median price of $50,180, the bill can vary widely depending on the property’s assessed value and any local taxing rates. In Iron County, the median property tax bill is $565.00, which is well below the national median property tax bill of $2,400 and below the national median property tax rate of 1.02%.
What you pay is shaped by the home’s assessed value, local levies, and any exemptions that may reduce the taxable amount. That means two similar homes can have different tax bills if their assessments differ or if one qualifies for relief. For homeowners, this directly affects annual housing costs and can make a meaningful difference in affordability. Bills in the area also show a wide range, with the 25th percentile at $102 and the 75th percentile at $1,090.
Median Gaastra Tax Bill
$565
Median Iron County Tax Bill
$781
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across Gaastra, Iron County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49927 | $47 | $102 | $565 | $1,090 | $1,897 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | March 9 |
Links | |
|---|---|
| Iron Tax Assessor | |
| Website | bsaonline.com |