49927 Property Tax Rate

Property owners in ZIP code 49927 (Gaastra, Michigan) pay a median of $1,144/year in property taxes on homes valued at $65,500. This translates to an effective tax rate of 1.75%, which is 43% above the Michigan state average of 1.22%.

The monthly property tax burden for a median-valued home in 49927 is approximately $95, which factors into escrow payments on mortgages. This ZIP code is located within Iron County. This is $1,282 less than the Michigan average of $2,426/year.

Compared to similar ZIP codes in Michigan, 49927 has higher property taxes. ZIP codes with similar effective rates include 48732 (1.76%) and 48507 (1.74%).

In Gaastra, property taxes represent approximately 2.1% of the median household income of $54,583, providing context for the relative tax burden on homeowners in this area.

If you're considering purchasing a home in 49927, keep in mind that property taxes are based on the assessed value assigned by the local assessor, which may differ from the purchase price. In some states, properties are reassessed at or near the sale price upon transfer of ownership. For the most current tax information for a specific property, consult Iron County's tax assessor directly.