49920 Property Tax Rate

Property owners in ZIP code 49920 (Crystal Falls, Michigan) pay a median of $1,666/year in property taxes on homes valued at $119,800. This translates to an effective tax rate of 1.39%, which is 14% above the Michigan state average of 1.22%.

The monthly property tax burden for a median-valued home in 49920 is approximately $139, which factors into escrow payments on mortgages. This ZIP code is located within Iron County. This is $760 less than the Michigan average of $2,426/year.

Compared to similar ZIP codes in Michigan, 49920 has lower property taxes. ZIP codes with similar effective rates include 48433 (1.39%) and 48658 (1.39%).

In Crystal Falls, property taxes represent approximately 2.7% of the median household income of $61,028, providing context for the relative tax burden on homeowners in this area.

Iron County properties reassess to purchase price at sale under Proposal A, with future annual increases capped at the lesser of 5% or CPI. File the Principle Residence Exemption (PRE) with the Iron County Assessor immediately—this exemption removes school operating taxes from your primary residence and is your primary tax relief tool. Request a copy of your assessment notice from the Iron County Assessor's office to confirm PRE status and verify the base year assessment.