49757 Property Tax Rate

Property owners in ZIP code 49757 (Mackinac Island, Michigan) pay a median of $7,589/year in property taxes on homes valued at $834,600. This translates to an effective tax rate of 0.91%, which is 26% below the Michigan state average of 1.22%.

The monthly property tax burden for a median-valued home in 49757 is approximately $632, which factors into escrow payments on mortgages. This ZIP code is located within Mackinac County. This is $5,163 more than the Michigan average of $2,426/year.

Compared to similar ZIP codes in Michigan, 49757 has lower property taxes. ZIP codes with similar effective rates include 49709 (0.91%) and 49232 (0.91%).

In Mackinac Island, property taxes represent approximately 7.6% of the median household income of $100,125, providing context for the relative tax burden on homeowners in this area.

Under Michigan's Proposal A, your purchase reassesses the property to market value, eliminating the inflation-only increases the previous owner enjoyed. The Principle Residence Exemption (PRE) exempts owner-occupied primary residences from school operating taxes — file with the Mackinac County Assessor by March 1 of the year following your purchase. Request your PRE form from the Mackinac County Assessor within 30 days of closing and submit it before March 1 to activate school tax savings.