Lamont, Michigan Property Taxes
The median property tax rate in Lamont, Michigan is 0.38%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Lamont at $199,400, the typical annual property tax bill comes to $752, which is well below the national median of $2,690. Property taxes in Lamont are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lamont's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lamont or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lamont, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$758
Ownwell’s Lamont Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Lamont with just two simple inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Lamont to provide an estimate of your property tax bill. This valuable tool helps you gauge potential tax liabilities, making it easier to plan your finances. For those interested in neighborhood-specific trends, additional localized information is available below. Your property’s assessed value is the value assigned by Ottawa County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Lamont, Michigan
Property taxes in Lamont, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lamont is 0.38%, significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Lamont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lamont estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Lamont's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in Ottawa County has the highest median property tax rate of 0.38%, while the lowest median tax rate is also 0.38%. Understanding how these cities compare with Lamont provides valuable insights into the varying tax landscape across Ottawa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lamont Tax Rate
0.38%
Average Ottawa County Tax Rate
0.90%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lamont, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49430 | 0.38% | 0.38% | 0.38% | 0.38% | 0.38% |
Source: Ownwell
Property Tax Assessment Values Across Lamont, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lamont, Michigan. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Ottawa County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Lamont are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Lamont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Lamont is $199,400, with the highest and lowest median tax bills both at $752 in the 49430 zip code.
Average Lamont Assessed Value
$199,400
Average Ottawa County Assessed Value
$276,000
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lamont, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49430 | $199,400 | $199,400 | $199,400 | $199,400 | $199,400 |
Source: Ownwell
Property Tax Bills Across Lamont, Michigan
In Lamont, property tax bills are primarily calculated based on the assessed value of a property. The local tax assessor determines this value, which is typically a percentage of the property's market value. For homeowners in Lamont, located in Ottawa County, the median home price is $199,400. The property tax rate is applied to the assessed value to determine the annual tax bill. Factors such as property improvements, neighborhood trends, and market conditions can influence the assessed value, thereby affecting the tax bill. Interestingly, the median property tax bill in Lamont is $752, which is notably lower than the national median property tax rate of 0.99%. This means that homeowners in Lamont benefit from relatively lower property tax expenses compared to many other regions. Understanding how these factors interplay can help homeowners anticipate their tax liabilities and plan accordingly. Lower property tax bills can make homeownership more affordable and appealing in Lamont, enhancing the overall quality of life for its residents.
Average Lamont Tax Bill
$752
Average Ottawa County Tax Bill
$2,533
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Lamont, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49430 | $752 | $752 | $752 | $752 | $752 |
Source: Ownwell