Lachine, Michigan Property Taxes
The median property tax rate in Lachine, MI 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 Lachine at $119,700, the typical annual property tax bill is $477, well below the national median of $2,690. Property taxes in Lachine are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Lachine'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 Lachine or another part of Alpena County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lachine, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$455
Ownwell’s Lachine Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lachine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lachine 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 Lachine, Michigan
Property taxes in Lachine, Michigan, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Lachine is 1.25%, notably higher than both the Michigan state median of 1.14% and the U.S. national median of 0.99%. Local government entities within Lachine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lachine 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 Lachine's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48103 zip code has the highest median property tax rate of 2.22%, while the 48505 zip code has the lowest median tax rate of 0.78%. Understanding how these cities compare with Lachine provides valuable insights into the varying tax landscape across Alpena County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lachine Tax Rate
0.38%
Average Alpena County Tax Rate
0.46%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lachine, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49753 | 0.27% | 0.33% | 0.38% | 0.45% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Lachine, Michigan
In Lachine, 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 Alpena 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. In Lachine, 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 Lachine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 49753, both at $477.
Average Lachine Assessed Value
$119,700
Average Alpena County Assessed Value
$107,600
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lachine, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49753 | $36,180 | $71,800 | $119,700 | $179,750 | $246,220 |
Source: Ownwell
Property Tax Bills Across Lachine, Michigan
In Lachine, located in Alpena County, MI, property tax bills are calculated based on the assessed value of your home, which is determined by local assessors. The assessed value is a percentage of the market value of your property. This assessed value is then multiplied by the local tax rate to determine your annual property tax bill. For example, with a median home price of $119,700 in Lachine, the property tax rate significantly impacts homeowners' annual bills. The tax bill for the 25th percentile is around $275, while those in the 75th percentile pay approximately $707. At the 90th percentile, the tax bill can reach up to $1,010. The highest and lowest median tax bills in the area both stand at $477, indicating a consistent tax rate across different properties. These property taxes fund essential local services, including schools, infrastructure, and emergency services, directly affecting the quality of life for homeowners in Lachine. Comparing this to the national median property tax rate of 0.99%, Lachine's property taxes can be seen as relatively moderate.
Average Lachine Tax Bill
$477
Average Alpena County Tax Bill
$661
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Lachine, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49753 | $137 | $275 | $477 | $707 | $1,010 |
Source: Ownwell