Q: When are property taxes due in Iosco County for the 2024-2025 tax year?
A: Property taxes are due by December 31st each year. For the 2024-2025 tax year, taxes were due December 31, 2024.
Q: What tax credits are available and do I need to apply?
A: The Principal Residence Exemption is the primary credit, requiring application with the local assessor. Senior citizens may qualify for additional credits. Veterans with disabilities may qualify for exemptions. All credits require separate applications and are not automatic.
Q: How does the Principal Residence Exemption work?
A: This credit limits assessment increases on your primary residence to the lesser of 5% annually or the inflation rate, helping keep taxable value below assessed value. You must file Form 2368 with your local assessor to qualify.
Q: When can I appeal my property assessment?
A: Assessment appeals must be filed with the local Board of Review, typically meeting in March. Contact your township or city assessor for specific dates and procedures.
Q: What are the penalties for late payment?
A: Late payments incur interest and penalties. Properties with delinquent taxes may eventually face foreclosure proceedings through the county treasurer's office.
Q: Can I pay my property taxes online?
A: Yes, Iosco County offers online payment options through the county treasurer's website. Credit card and electronic check payments are typically accepted with associated convenience fees.
Q: Why do tax rates vary within Iosco County?
A: Different areas are served by different combinations of school districts, fire districts, library districts, and special assessment districts, creating varying total millage rates across the county.
Q: What triggers a supplemental tax bill?
A: Property sales, new construction completion, major improvements, or discovery of previously unassessed structures can trigger supplemental taxes for the remainder of the tax year.
Q: How do I apply for the homestead exemption?
A: File Form 2368 (Principal Residence Exemption Affidavit) with your local city or township assessor. This must be done for each property and is not automatically transferred.
Q: What happens if I disagree with a supplemental tax assessment?
A: You can appeal supplemental assessments through the same process as regular assessments, typically through your local Board of Review or the Michigan Tax Tribunal for higher-value disputes.
