49947 Property Tax Rate

Property owners in ZIP code 49947 (Marenisco, Michigan) pay a median of $1,990/year in property taxes on homes valued at $193,800. This translates to an effective tax rate of 1.03%, which is 16% below the Michigan state average of 1.22%.

The monthly property tax burden for a median-valued home in 49947 is approximately $166, which factors into escrow payments on mortgages. This ZIP code is located within Gogebic County. This is $436 less than the Michigan average of $2,426/year.

Compared to similar ZIP codes in Michigan, 49947 has higher property taxes. ZIP codes with similar effective rates include 48727 (1.03%) and 48822 (1.03%).

In Marenisco, property taxes represent approximately 3.9% of the median household income of $50,682, providing context for the relative tax burden on homeowners in this area.

Gogebic County properties undergo full reassessment to market value at purchase under Proposal A, with subsequent annual increases limited to the lesser of 5% or inflation. File your Principle Residence Exemption (PRE) with the Gogebic County Assessor immediately after closing—this exemption removes school operating taxes from your primary home and is the most valuable tax relief available in Michigan. Request your assessment record from the Gogebic County Assessor to verify PRE status and confirm the base year value.