Pleasant Lake, Michigan Property Taxes
The median property tax rate in Pleasant Lake, MI is 0.56%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $208,200 in Pleasant Lake, the typical annual property tax bill amounts to $1,192, which is substantially below the national median of $2,690. Property taxes in Pleasant Lake are determined based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Pleasant Lake's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Pleasant Lake or another part of Jackson County, mastering the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pleasant Lake, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$1,166
Ownwell’s Pleasant Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pleasant Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pleasant Lake to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Pleasant Lake, Michigan
Property taxes in Pleasant Lake, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pleasant Lake is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Pleasant Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pleasant Lake 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 Pleasant Lake's effective property tax rate to other areas and the national median. For comparison, the 49272 zip code has the same median property tax rate of 0.56%. Understanding how these areas compare with Pleasant Lake provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pleasant Lake Tax Rate
0.56%
Average Jackson County Tax Rate
0.86%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pleasant Lake, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49272 | 0.38% | 0.49% | 0.56% | 0.68% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Pleasant Lake, Michigan
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pleasant Lake, Michigan. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Jackson 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 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 Pleasant Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Pleasant Lake is $1,192 in the 49272 zip code, while the lowest median tax bill is also $1,192 in the same zip code.
Average Pleasant Lake Assessed Value
$208,200
Average Jackson County Assessed Value
$149,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pleasant Lake, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49272 | $74,480 | $144,200 | $208,200 | $285,400 | $370,560 |
Source: Ownwell
Property Tax Bills Across Pleasant Lake, Michigan
In Pleasant Lake, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is typically a percentage of the market value of the property. Homeowners in Pleasant Lake can expect property tax bills to vary significantly depending on the value of their homes. For instance, the tax bill at the 25th percentile is around $773, while at the 75th percentile, it rises to approximately $1,694. Those in the 90th percentile can see tax bills as high as $2,275. The median home price in Pleasant Lake is $208,200, which influences the tax calculations. Compared to the national median property tax rate of 0.99%, homeowners in Pleasant Lake may find their tax bills relatively moderate. Factors such as property improvements, neighborhood developments, and changes in market conditions can affect the assessed value, thereby impacting the overall tax bill. Understanding these factors can help homeowners anticipate their property tax obligations better.
Average Pleasant Lake Tax Bill
$1,192
Average Jackson County Tax Bill
$1,283
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Pleasant Lake, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49272 | $344 | $773 | $1,192 | $1,694 | $2,275 |
Source: Ownwell