Long Lake, Michigan Property Taxes
The median property tax rate in Long Lake, MI is 0.99%, aligning with the national median but lower than the Michigan state median of 1.07%. With a median home value of $84,600 in Long Lake, the typical annual property tax bill amounts to $871, which is significantly below the national median of $2,690. Property taxes in Long Lake are determined based on the tax assessed value, which is generally lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Long Lake'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 Long Lake or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Long Lake, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$838
Ownwell’s Long Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Long Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Long 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 Long Lake, Michigan
Property taxes in Long Lake, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Long Lake is 1.33%, higher than both the Michigan state median of 1.31% and the U.S. national median of 0.99%. Local government entities within Long Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Long 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 Long Lake'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 in Luce County at 2.15%, while the lowest median tax rate is in Leelanau County at 0.73%. Understanding how these counties compare with Long Lake provides valuable insights into the varying tax landscape across Ogemaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Long Lake Tax Rate
0.99%
Average Ogemaw County Tax Rate
0.91%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Long Lake, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48743 | 0.73% | 0.75% | 0.99% | 1.47% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Long Lake, Michigan
In Long Lake, 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 Ogemaw 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 Long Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Long Lake, the highest median tax bill is $871 in the 48743 zip code, while the lowest median tax bill is also $871 in the same zip code. The 25th percentile tax bill is $531, the 75th percentile tax bill is $1174, and the 90th percentile tax bill is $1320. The median home price is $84,600, providing a clear picture of property tax trends in the area.
Average Long Lake Assessed Value
$84,600
Average Ogemaw County Assessed Value
$47,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Long Lake, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48743 | $40,540 | $64,900 | $84,600 | $85,800 | $87,480 |
Source: Ownwell
Property Tax Bills Across Long Lake, Michigan
In Long Lake, located in Ogemaw County, MI, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the market value. The median home price in Long Lake is $84,600. Property tax rates in this area can vary, but the tax bill is influenced by several factors, including local government budgets, school funding needs, and public services. For example, homeowners in Long Lake can expect their property tax bills to fall within a range, with the 25th percentile paying around $531 and the 75th percentile paying approximately $1,174. At the 90th percentile, the tax bill can reach up to $1,320. These figures are influenced by the assessed value of the property and the local tax rate. Compared to the national median property tax rate of 0.99%, Long Lake's property tax bills reflect the specific economic and budgetary needs of the local community. Homeowners should be aware that their tax bills directly contribute to maintaining and improving local amenities and services.
Average Long Lake Tax Bill
$871
Average Ogemaw County Tax Bill
$466
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Long Lake, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48743 | $318 | $531 | $871 | $1,174 | $1,320 |
Source: Ownwell