49950 Property Tax Rate

Property owners in ZIP code 49950 (Mohawk, Michigan) pay a median of $1,851/year in property taxes on homes valued at $221,600. This translates to an effective tax rate of 0.84%, which is 32% below the Michigan state average of 1.22%.

The monthly property tax burden for a median-valued home in 49950 is approximately $154, which factors into escrow payments on mortgages. This ZIP code is located within Keweenaw County. This is $575 less than the Michigan average of $2,426/year.

Compared to similar ZIP codes in Michigan, 49950 has lower property taxes. ZIP codes with similar effective rates include 49643 (0.84%) and 49958 (0.84%).

In Mohawk, property taxes represent approximately 3.4% of the median household income of $54,931, providing context for the relative tax burden on homeowners in this area.

Michigan Proposal A resets your assessment to purchase price and limits future annual increases to the lesser of 5% or inflation, protecting owners from sudden spikes. Keweenaw County's Principle Residence Exemption (PRE) eliminates school operating taxes on your primary home—apply through the Keweenaw County Assessor's office no later than 45 days after closing to secure this year's exemption. Request an assessment summary from the assessor to confirm your base year value and ensure the exemption was properly recorded on your property record.