Baldwin, Michigan Property Taxes
The median property tax rate in Baldwin, MI is 0.38%, considerably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Baldwin at $74,400, the typical annual property tax bill reaches $280, significantly below the national median of $2,690. Property taxes in Baldwin are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Baldwin'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 Baldwin or another part of Lake County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Baldwin, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$283
Ownwell’s Baldwin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Baldwin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Baldwin 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 Baldwin, Michigan
Property taxes in Baldwin, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Baldwin is 0.38%, significantly lower than the Michigan state median and the U.S. national median of 0.99%. Local government entities within Baldwin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Baldwin 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 Baldwin's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in Michigan is found in 48009 with a rate of 1.89%, while the lowest is in 49946 with a rate of 0.28%. Understanding how these cities compare with Baldwin provides valuable insights into the varying tax landscape across Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Baldwin Tax Rate
0.38%
Average Lake County Tax Rate
0.38%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Baldwin, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49304 | 0.26% | 0.34% | 0.38% | 0.44% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Baldwin, Michigan
In Baldwin, Michigan, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. 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 Lake 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 Baldwin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Baldwin is $74,400, with tax bills ranging from $138 at the 25th percentile to $999 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 49304, at $280.
Average Baldwin Assessed Value
$74,400
Average Lake County Assessed Value
$80,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Baldwin, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49304 | $14,860 | $36,400 | $74,400 | $141,400 | $269,800 |
Source: Ownwell
Property Tax Bills Across Baldwin, Michigan
Property tax bills in Baldwin, located in Lake County, MI, are calculated based on the assessed value of the property, which is typically a percentage of the market value. Homeowners in Baldwin can expect varying tax bills depending on the assessed value of their homes and the local tax rate. The median home price in Baldwin is $74,400, and the median property tax rate in the area is 0.99%, which aligns with the national median property tax rate. For example, homeowners in the 25th percentile of tax bills pay around $138 annually, while those in the 75th percentile pay approximately $541. At the 90th percentile, the tax bill can reach up to $999. The highest and lowest median tax bills in Baldwin are both $280, as seen in the 49304 zip code. These tax bills directly impact homeowners by influencing their annual budget and potentially affecting the affordability of homeownership in the area. Understanding these factors helps residents plan and manage their property tax obligations effectively.
Average Baldwin Tax Bill
$280
Average Lake County Tax Bill
$302
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Baldwin, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49304 | $60 | $138 | $280 | $541 | $999 |
Source: Ownwell