Lake County, Michigan Property Taxes

Name: Property Tax Bills Across Lake County, Michigan
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Lake County effective property tax rate: 0.38%, significantly lower than the national median of 1.02%.
Median Lake County home value: $80,200
Median annual Lake County tax bill: $302, $2,098 lower than the national median property tax bill of $2,400.

How are property taxes in Lake County calculated?

Property taxes in Lake County are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding your county's property tax system, exemptions, and reduction opportunities can lead to significant savings. Whether you live in Baldwin or another part of Lake County, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Lake County, Michigan Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.38%

Estimate Property Tax Bill

$305

$283

Ownwell’s Lake County Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lake County with just two data points. By entering your property's estimated assessed value, our calculator applies Lake County’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a more precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Lake County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Lake County, Michigan

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Lake County's effective property tax rate to other counties in Michigan or the U.S. median property tax rate. Lake County's median property tax rate is significantly lower than the national median of 1.02%, making it an attractive option for property owners seeking lower tax obligations. With the highest and lowest median tax rates in Lake County being the same, at 0.43% in Cadillac, it offers consistency across the board. This stability in property tax rates can provide peace of mind to homeowners, making it a desirable location for those looking to manage their property expenses effectively.

Property Tax Rates Across Lake County, Michigan

Source: Ownwell

0.32%

0.38%

0.43%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Lake County Taxx Rate

0.38%

Median Effective Michigan Taxx Rate

1.07%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Lake County, Michigan

City	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
Baldwin	0.26%	0.34%	0.38%	0.44%	0.49%
Bitely	0.20%	0.26%	0.38%	0.43%	0.51%
Branch	0.23%	0.28%	0.38%	0.46%	0.50%
Cadillac	0.35%	0.36%	0.43%	0.49%	0.50%
Chase	0.24%	0.30%	0.35%	0.41%	0.49%
Idlewild	0.23%	0.31%	0.39%	0.44%	0.50%
Irons	0.24%	0.33%	0.39%	0.43%	0.49%
Leroy	0.23%	0.29%	0.32%	0.38%	0.44%
Luther	0.23%	0.29%	0.36%	0.43%	0.50%
Reed City	0.25%	0.30%	0.35%	0.41%	0.48%
Tustin	0.21%	0.29%	0.36%	0.40%	0.46%

Source: Ownwell

Property Tax Assessment Values Across Lake County, Michigan

When examining property taxes in Lake County, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Lake County Equalization Department estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Lake County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Lake County. For example, the median tax bill in Lake County is $422, with tax bills ranging significantly across the county. Tustin has the highest median home price at $122,700.

Property Tax Assessment Values Across Lake County, Michigan

Source: Ownwell

$41,400

$82,050

$122,700

Median Lake County Market Value

$80,200

Median Michigan Market Value

$177,800

Median United States Market Value

$244,900

Property Tax Assessment Values Across Lake County, Michigan

City	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
Baldwin	$14,860	$36,400	$74,400	$141,400	$269,800
Bitely	$14,600	$37,650	$59,200	$109,300	$175,600
Branch	$12,880	$44,450	$98,700	$168,100	$252,960
Cadillac	$14,480	$27,800	$41,400	$56,600	$135,600
Chase	$31,800	$58,400	$104,200	$165,400	$248,800
Idlewild	$14,200	$29,200	$49,400	$82,300	$125,720
Irons	$31,000	$55,050	$104,300	$177,350	$282,400
Leroy	$36,480	$65,000	$118,600	$174,400	$230,960
Luther	$16,000	$40,600	$79,000	$138,600	$216,600
Reed City	$31,620	$57,600	$108,900	$186,100	$280,580
Tustin	$41,780	$78,650	$122,700	$176,250	$255,180

Source: Ownwell

Property Tax Bills Across Lake County, Michigan

In Lake County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the home's market value, and local tax rates are applied to this assessed value to calculate the tax bill. Homeowners in Lake County experience a range of tax bills, with the 25th percentile at $155 and the 75th percentile at $551, reflecting the variation in property values and tax rates across the county. The 90th percentile tax bill reaches $944, showing that some homeowners face significantly higher taxes. Compared to the national median property tax bill of $2,400, Lake County's tax bills are relatively low. However, the highest median tax bill in the county is found in Tustin at $422, while Cadillac has the lowest at $165. These variations can impact homeowners' financial planning and influence decisions on property investments within the county. Understanding these factors is crucial for homeowners to anticipate their property tax obligations accurately.

Property Tax Bills Across Lake County, Michigan

Source: Ownwell

$165

$294

$422

Median Lake County Tax Bill

$302

Median Michigan Tax Bill

$1,795

Median United States Tax Bill

$2,690

Property Tax Bills Across Lake County, Michigan

City	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
Baldwin	$60	$138	$280	$541	$999
Bitely	$65	$137	$224	$376	$614
Branch	$106	$194	$387	$640	$1,117
Cadillac	$54	$102	$165	$272	$575
Chase	$104	$194	$357	$573	$888
Idlewild	$47	$97	$180	$316	$485
Irons	$125	$209	$385	$661	$1,085
Leroy	$106	$220	$387	$574	$798
Luther	$76	$154	$284	$492	$795
Reed City	$115	$214	$393	$644	$979
Tustin	$136	$234	$422	$628	$871

Source: Ownwell