Lake Leelanau, Leelanau County, Michigan Property Taxes

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

Median Lake Leelanau, MI effective property tax rate: 0.61%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Lake Leelanau, MI home value: $470,800
Median annual Lake Leelanau, MI tax bill: $2,944, $544 higher than the national median property tax bill of $2,400.

How are property taxes in Leelanau County calculated?

Property taxes in Lake Leelanau, MI 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 Lake Leelanau’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lake Leelanau, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Lake Leelanau, Leelanau County, Michigan Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.61%

Estimate Property Tax Bill

$2,872

$2,665

Ownwell’s Lake Leelanau Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lake Leelanau with just two data points. By entering your property's estimated assessed value, our calculator applies Lake Leelanau’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 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 Leelanau County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Lake Leelanau, Leelanau County, Michigan

Local government entities are responsible for setting tax rates, which can vary significantly within a state. Each year, counties estimate their budgetary needs for public services and divide this by the total assessed value of all taxable property within their jurisdiction. This calculation determines the property tax rate. Although the process involves votes and legislation, this is the core method used annually. In Lake Leelanau, located in Leelanau County, Michigan, the effective property tax rate is a key point of comparison. Michigan's median property tax rate is below the national median of 1.02%, and Lake Leelanau reflects this trend with its own rate. When compared to other cities in Michigan, Lake Leelanau offers a competitive rate that aligns with the state's overall lower property tax environment. This comparison highlights the potential savings for property owners in Lake Leelanau, making it an attractive option for those seeking lower property tax liabilities within Michigan and the U.S.

Property Tax Rates Across Lake Leelanau, Leelanau County, Michigan

Source: Ownwell

0.31%

0.51%

0.71%

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 Leelanau Tax Rate

0.61%

Median Effective Leelanau County Tax Rate

0.48%

Median Effective Michigan Tax Rate

1.07%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lake Leelanau, Leelanau County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
49653	0.37%	0.48%	0.61%	0.79%	1.11%

Source: Ownwell

Property Tax Assessment Values Across Lake Leelanau, Leelanau County, Michigan

When examining property taxes in Lake Leelanau, MI, 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 Leelanau County Appraisal District 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 Leelanau 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 Leelanau.

For example, the median home price in Lake Leelanau is $470,800, with tax bills ranging significantly across the county. Zip code 49653 has the highest median home price at $470,800.

Property Tax Assessment Values Across Lake Leelanau, Leelanau County, Michigan

Source: Ownwell

$300,800

$547,450

$794,100

Median Lake Leelanau Market Value

$470,800

Median Leelanau County Market Value

$389,200

Median Michigan Market Value

$177,800

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lake Leelanau, Leelanau County, Michigan

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
49653	$154,600	$243,200	$470,800	$972,000	$1,604,600

Source: Ownwell

Property Tax Bills Across Lake Leelanau, Leelanau County, Michigan

In Lake Leelanau, located in Leelanau County, MI, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the property's market value, which in this area has a median home price of $470,800. Tax rates can vary, but they are applied uniformly across the assessed value to calculate the final bill. Homeowners in this region face a wide range of tax bills, with the 25th percentile at $1,434 and the 90th percentile reaching $10,548. The highest and lowest median tax bills are both recorded at $2,944 in the 49653 zip code, which is above the national median property tax bill of $2,400. These tax bills can significantly impact homeowners' finances, making it crucial to ensure they're accurate. Ownwell offers services that help homeowners appeal incorrect assessments and secure exemptions, potentially saving them money on their property tax bills. By leveraging local expertise, Ownwell can effectively reduce the financial burden of property taxes for Lake Leelanau homeowners.

Property Tax Bills Across Lake Leelanau, Leelanau County, Michigan

Source: Ownwell

$1,176

$3,170

$5,163

Median Lake Leelanau Tax Bill

$2,944

Median Leelanau County Tax Bill

$1,958

Median Michigan Tax Bill

$1,795

Median United States Tax Bill

$2,400

Property Tax Bills Across Lake Leelanau, Leelanau County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
49653	$884	$1,434	$2,944	$5,955	$10,548

Source: Ownwell