49965 Property Tax Rate

Property owners in ZIP code 49965 (Toivola, Michigan) pay a median of $1,785/year in property taxes on homes valued at $222,900. This translates to an effective tax rate of 0.80%, which is 34% below the Michigan state average of 1.22%.

The monthly property tax burden for a median-valued home in 49965 is approximately $149, which factors into escrow payments on mortgages. This ZIP code is located within Houghton County. This is $641 less than the Michigan average of $2,426/year.

Compared to similar ZIP codes in Michigan, 49965 has higher property taxes. ZIP codes with similar effective rates include 49775 (0.80%) and 49848 (0.80%).

In Toivola, property taxes represent approximately 2.3% of the median household income of $77,604, providing context for the relative tax burden on homeowners in this area.

Houghton County assessments reset to full market value at purchase under Proposal A and increase annually at the lesser of 5% or inflation, protecting you from unlimited future hikes. The Principle Residence Exemption (PRE) exempts school operating taxes on your primary home—file with the Houghton County Assessor within 45 days of closing to activate this benefit for the current tax year. Request your property record from the Houghton County Assessor to confirm PRE exemption coding and verify the purchase-price base year.