Example of Presque Isle County Property Tax Calculation
Presque Isle County calculates property tax based on the assessed value of the property. The assessed value is determined by the county assessor's office and is equal to 50% of the property's true cash value.
To calculate the property tax, the assessed value is multiplied by the county's millage rate. A millage rate is the amount of tax per $1,000 of assessed value that is levied by the county.
For example, if the assessed value of a property in Presque Isle County is $100,000 and the county millage rate is 20 mills, the property tax would be calculated as follows:
$100,000 assessed value รท 1,000 = 100 (taxable value in thousands)
100 x 20 mills = 2,000 (total property tax due)
Therefore, the property owner would owe $2,000 in property taxes for the year. It is important to note that millage rates can vary by county and may also include additional taxes for schools, libraries, and other local services.
If you want appeal your property tax assessment - contact your local tax assessor.
Presque Isle County Property Tax Rates
Here is a table displaying the Property Tax rates in Presque Isle County, Michigan:
| Tax Type | Rate per $100 of Assessed Value |
|---|---|
| County Tax | $0.50 |
| School Tax | $6.00 |
| State Education Tax | $0.06 |
| Intermediate School District Tax | $1.68 |
| Community College Tax | $0.84 |
| Township/City Tax | Varies by location |
It is important for property owners to note that the township/city tax rate will vary based on the specific location of the property. It is recommended that property owners contact their local government offices for specific tax rate information.
Who sets property tax rates in Presque Isle County ?
Presque Isle County Property Tax Rates
Property tax rates in Presque Isle County are set by the County Board of Commissioners annually. The Board of Commissioners typically sets the tax rates in December, after receiving the assessed property values from the Michigan Department of Treasury.
Presque Isle County property owners pay property taxes based on the assessed value of their property and the tax rate set by the Board of Commissioners. The assessed value of the property is determined by the Presque Isle County Assessor's Office, which is responsible for maintaining property records and assessing the value of properties in the county.
The property tax rates in Presque Isle County vary depending on the location and type of property. There are different tax rates for residential, commercial, and industrial properties. The tax rates are also different for properties located within the boundaries of a city or township.
Property owners in Presque Isle County can view their property tax information online through the Presque Isle County Treasurer's website. They can also pay their property taxes online or in person at the Presque Isle County Treasurer's Office.
Homestead exemptions in Presque Isle County ?
The table below outlines the various Homestead exemptions and deductions available in Presque Isle County, Michigan. These exemptions and deductions can help eligible homeowners reduce their property taxes and save money.
| Exemption/Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead Exemption | Homeowners | $50,000 | Must be a primary residence |
| Veterans Exemption | Veterans | Amount varies | Based on length of service and disability rating |
| Disabled Veterans Exemption | Disabled veterans | $50,000 | Based on disability rating |
| Poverty Exemption | Low-income homeowners | Varies | Based on income and property value |
| Agricultural Exemption | Agricultural property owners | Varies | Based on acreage and use of property |
| Principal Residence Exemption | Homeowners | Varies | Based on property value and use |
It's important to note that each exemption and deduction has its own eligibility requirements and application process. Homeowners should research and carefully consider which exemptions and deductions they may qualify for and how to apply for them. Taking advantage of these tax-saving opportunities can make a significant difference in reducing property taxes and easing the burden on homeowners in Presque Isle County, Michigan.
When is Presque Isle County Property Tax due ?
Presque Isle County Property Tax typically has two due dates, one in the summer and one in the winter.
- The first installment is due by September 14th, and the second installment is due by February 14th.
There are several payment methods available for paying property taxes in Presque Isle County:
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By Mail: taxpayers can mail their payments, along with the payment stub, to the Presque Isle County Treasurer's Office. The check should be made payable to the Presque Isle County Treasurer.
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In Person: taxpayers can pay in person at the Presque Isle County Treasurer's Office during regular business hours. Payments can be made by cash, check, money order, or credit card.
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Online: taxpayers can pay their property taxes online using the official website of Presque Isle County. Payments can be made by credit card or e-check.
It's important to note that late payments may result in penalties and interest charges, so taxpayers are advised to make sure their payments are submitted by the due dates.
If you have more questions - contact your local tax collector.
How is Presque Isle County Property Tax penalty calculated ?
Presque Isle County Property Tax Penalty Calculation:
The penalty for late payment of property taxes in Presque Isle County, Michigan is calculated based on the amount of the unpaid taxes and the number of days past the due date.
The penalty rate is 1% per month, with a maximum penalty of 6%. This means that if a property owner fails to pay their property taxes by the due date, they will be charged an additional 1% of the unpaid amount each month until the taxes are paid in full or the penalty reaches 6%.
Example:
Let's say that John owns a property in Presque Isle County and his property taxes are due on March 1st. However, he fails to pay his taxes on time and waits until May 1st to make the payment.
Assuming John owes $2,500 in property taxes, his penalty would be calculated as follows:
- March 1st to April 1st (1 month) - penalty of 1% ($25)
- April 1st to May 1st (1 month) - penalty of 1% ($25)
- Total penalty - $50
Therefore, John's total amount due would be $2,550 ($2,500 in taxes + $50 in penalties).
In summary, property owners in Presque Isle County should always pay their taxes on time to avoid any late penalties. If a property owner is unable to pay their taxes on time, they should contact the county treasurer's office to discuss payment options and avoid further penalties.
We recommend contacting the Presque Isle County Tax Office or a local tax professional for the most up-to-date and accurate information.