Trout Creek, Ontonagon County, Michigan Property Taxes
Median Trout Creek, MI effective property tax rate: 0.85%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Trout Creek, MI home value: $61,790
Median annual Trout Creek, MI tax bill: $463, $1,937 lower than the national median property tax bill of $2,400.
How are property taxes in Ontonagon calculated?
Property taxes in Trout Creek, 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 Trout Creek’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Trout Creek, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Trout Creek, Ontonagon County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.76%
Estimate Property Tax Bill
$556
$516
Property Tax Rates Across Trout Creek, Ontonagon County, Michigan
Local government entities determine tax rates, which can vary significantly within Michigan. Each year, counties estimate their budgetary needs for services and divide this by the total value of all taxable properties within their jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the core of the annual process.
In Trout Creek, the effective property tax rate stands at 0.85%, which is notably lower than the national median rate of 1.02%. This rate is consistent across Ontonagon County, as evidenced by the uniformity of tax rates in the area. Compared to other cities in Michigan, Trout Creek offers a favorable tax environment, aligning with the county's overall approach to property taxation.
For residents of Trout Creek, this means a more manageable property tax bill compared to the national median of $2,400. Such favorable rates can make a significant difference for homeowners, potentially easing the financial burden and making homeownership more accessible.
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 Trout Creek Tax Rate
0.76%
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
0.63%
Median Effective Michigan Tax Rate
1.05%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Trout Creek, Ontonagon County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49967 | 0.34% | 0.43% | 0.76% | 1.17% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Trout Creek, Ontonagon County, Michigan
When examining property taxes in Trout Creek, 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 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 Trout Creek. For example, the median home price in Trout Creek is $61,790, with tax bills ranging significantly across the county. Zip code 49967 has the highest median home price at $61,790.
Property Tax Assessment Values Across Trout Creek, Ontonagon County, Michigan
Source: Ownwell
$46,400
$138,190
$229,980
Median Trout Creek Market Value
$73,120
Median Ontonagon County Market Value
$85,280
Median Michigan Market Value
$213,740
Median United States Market Value
$235,294
Property Tax Assessment Values Across Trout Creek, Ontonagon County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49967 | $14,520 | $43,735 | $73,120 | $121,980 | $171,060 |
Source: Ownwell
Property Tax Bills Across Trout Creek, Ontonagon County, Michigan
In Trout Creek, MI, property tax bills are determined by assessing the property's value and applying the local tax rate. The assessed value is often a fraction of the market value, and the tax rate is applied to this assessed value to calculate the tax bill. In Ontonagon County, where Trout Creek is located, the median tax bill is $463, which is significantly lower than the national median of $2,400. Homeowners in this area may find their tax obligations manageable, but understanding the nuances of property assessments and tax rates is crucial for ensuring fair taxation.
Factors influencing the tax bill include changes in property value, local government budgets, and any applicable exemptions or appeals. Homeowners may face varying tax bills, with the 25th percentile at $228 and the 90th percentile reaching $1,306. Ownwell can assist homeowners by identifying potential savings through appeals or exemptions, ensuring they pay only what is necessary. This service can be particularly beneficial in areas with fluctuating property values, helping homeowners manage their finances more effectively.
Median Trout Creek Tax Bill
$506
Median Ontonagon County Tax Bill
$549
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across Trout Creek, Ontonagon County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49967 | $135 | $256 | $506 | $808 | $1,345 |
Source: Ownwell