Example of Marquette County Property Tax Calculation
Marquette County calculates property taxes based on the assessed value of a property. For example, if a property is assessed at $100,000 and the tax rate is 2%, the property owner would owe $2,000 in property taxes.
To determine the assessed value, the county uses a formula that takes into account factors such as the property's size, location, and condition. This formula is designed to ensure that the assessed value is fair and reflective of the property's true value.
Once the assessed value is determined, the county applies the tax rate to calculate the amount owed in property taxes. This amount is typically paid twice a year, although some property owners may be eligible for payment plans or other arrangements.
Overall, property taxes are an important source of revenue for Marquette County, helping to fund essential services such as schools, roads, and public safety.
If you want appeal your property tax assessment - contact your local tax assessor.
Marquette County Property Tax Rates
Below is a formatted table listing the Marquette County Property Tax rates:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| City of Marquette | $21.50 |
| Ishpeming Township | $23.00 |
| Negaunee Township | $23.50 |
| Republic Township | $23.00 |
| Richmond Township | $23.50 |
| Sands Township | $22.50 |
| Skandia Township | $23.00 |
| Tilden Township | $23.00 |
| West Branch Township | $23.00 |
Please note that these rates are subject to change and may vary based on individual property assessments. As a tax advisor, it is recommended to consult with a qualified professional for personalized guidance on property tax matters.
Who sets property tax rates in Marquette County ?
Who sets property tax rates in Marquette County?
The property tax rates in Marquette County are set by the Marquette County Board of Supervisors. The Board is composed of elected officials who represent various towns and cities within the county.
When are property tax rates set in Marquette County?
The property tax rates in Marquette County are typically set annually by the Marquette County Board of Supervisors. The rates are usually established in the fall or winter, in time for tax bills to be mailed out to property owners in the spring.
How are property tax rates determined in Marquette County?
Property tax rates in Marquette County are determined by a number of factors, including the assessed value of the property and the needs of the county's various governmental entities. The county's budget and tax levy are also important considerations in setting property tax rates.
Homestead exemptions in Marquette County ?
To help homeowners in Marquette County, Michigan navigate the various Homestead exemptions and deductions available, a comprehensive table has been created below. Each column in the table includes important information on exemptions, eligibility, amount, and notes for each county-specific option.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Principal Residence | Owner-occupied | Exempts up to 100% of the property's taxable value | Property taxes on the remaining taxable value must still be paid |
| Veterans | Honorably discharged veteran | Exempts up to $22,500 of taxable value | Veteran must have served during wartime |
| Disabled Veterans | Honorably discharged veteran with a service-connected disability | Exempts up to 100% of the property's taxable value | Must have been honorably discharged due to service-connected disability |
| Agricultural | Owner-occupied and used for agricultural purposes | Exempts up to 18 mills of the property's taxable value | Property must be used for agricultural purposes |
| Forest | Owner-occupied and used for commercial forest purposes | Exempts up to 18 mills of the property's taxable value | Property must be used for commercial forest purposes |
| Historic | Owner-occupied and listed on the Michigan Register of Historic Places | Exempts up to 100% of the property's taxable value | Property must be listed on the Michigan Register of Historic Places |
It's important to note that eligibility requirements may vary for each exemption, and homeowners should always consult with the Marquette County Equalization Department for specific details on how to apply for exemptions and deductions. Additionally, while these exemptions and deductions can provide financial relief for homeowners, they may not cover all property taxes owed. Homeowners should always be aware of their property tax obligations and consult with a tax professional if needed.
When is Marquette County Property Tax due ?
Marquette County Property Tax is typically due on February 14th each year. The deadline is important to keep in mind, as late payments may accrue interest and penalties.
Thankfully, there are several payment methods available to make the process as convenient as possible for taxpayers. Here are the most common options:
| Payment Method | Description |
|---|---|
| Online Payment | Taxpayers can pay online through the Marquette County Treasurer's website using a credit card or electronic check. |
| Payments can be mailed to the Marquette County Treasurer's Office, along with a check or money order. | |
| In-Person | Taxpayers can pay in person at the Marquette County Treasurer's Office using cash, check, or money order. |
| Drop Box | Payments can be deposited in the drop box located at the Marquette County Courthouse. |
It's important to note that taxpayers should ensure they receive a receipt for their payment, regardless of the method used. This will serve as proof of payment in case of any discrepancies or errors.
Overall, paying Marquette County Property Tax is a straightforward process with several convenient options available to taxpayers.
If you have more questions - contact your local tax collector.
How is Marquette County Property Tax penalty calculated ?
Marquette County Property Tax Penalty Calculation
When a property owner fails to pay their property taxes on time, a penalty is assessed. The penalty is calculated based on the amount of unpaid taxes and the length of time they have been delinquent.
Here's an example:
Let's say a property owner in Marquette County has a property tax bill of $5,000 due on December 1st. If the owner fails to pay by the due date, a penalty of 1% will be added to the unpaid amount on December 2nd. On January 1st, an additional 1% penalty will be added for a total penalty of 2%.
If the property owner still hasn't paid by February 1st, an additional 1.5% penalty will be added, bringing the total penalty to 3.5%. This process continues every month until the taxes are paid in full or until the property is sold at a tax sale.
To make it easier to understand, here is a table that shows the penalty calculation for the example above:
| Date | Unpaid Amount | Penalty | Total Amount Due |
|---|---|---|---|
| Dec 1 | $5,000 | 0% | $5,000 |
| Dec 2 | $5,050 | 1% | $5,101.50 |
| Jan 1 | $5,101.50 | 1% | $5,153.02 |
| Feb 1 | $5,153.02 | 1.5% | $5,221.42 |
| Mar 1 | $5,221.42 | 1.5% | $5,290.94 |
| Apr 1 | $5,290.94 | 1.5% | $5,361.60 |
| May 1 | $5,361.60 | 1.5% | $5,433.43 |
It's important for property owners to pay their taxes on time to avoid these penalties and potential loss of their property.
We recommend contacting the Marquette County Tax Office or a local tax professional for the most up-to-date and accurate information.