Carp Lake, Cheboygan County, Michigan Property Taxes
Median Carp Lake, MI effective property tax rate: 0.84%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Carp Lake, MI home value: $129,800
Median annual Carp Lake, MI tax bill: $906, $1,494 lower than the national median property tax bill of $2,400.
How are property taxes in Cheboygan calculated?
Property taxes in Carp Lake, 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 Carp Lake’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Carp Lake, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Carp Lake, Cheboygan County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.08%
Estimate Property Tax Bill
$1,493
$1,385
Property Tax Rates Across Carp Lake, Cheboygan County, Michigan
Local government entities in Michigan, like those in other states, set property tax rates, which can vary widely. Each year, counties estimate the budget needed to provide essential services and divide this by the total value of all taxable property within their jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the annual process in a nutshell.
In Carp Lake, located in Cheboygan County, the effective property tax rate is 0.84%. This rate is below the national median property tax rate of 1.02%, offering property owners in Carp Lake a more favorable tax environment compared to many other areas in the country. When compared to other cities in Michigan, Carp Lake's rate is consistent with the state median, which also stands at 0.84%. This stability in tax rates can be beneficial for property owners seeking predictability in their annual expenses. By understanding these rates, property owners can better plan for their financial commitments and potentially explore opportunities for tax appeals or exemptions.
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 Carp Lake Tax Rate
1.08%
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 Cheboygan County Tax Rate
0.86%
Median Effective Michigan Tax Rate
1.05%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Carp Lake, Cheboygan County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49718 | 0.65% | 0.80% | 1.08% | 1.70% | 2.12% |
Source: Ownwell
Property Tax Assessment Values Across Carp Lake, Cheboygan County, Michigan
When examining property taxes in Carp Lake, 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 Cheboygan 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 Cheboygan County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Carp Lake.
For example, the median home price in Carp Lake is $129,800, with tax bills ranging significantly across the county. 49718 has the highest median home price at $129,800.
Property Tax Assessment Values Across Carp Lake, Cheboygan County, Michigan
Source: Ownwell
$126,200
$495,050
$863,900
Median Carp Lake Market Value
$138,200
Median Cheboygan County Market Value
$193,800
Median Michigan Market Value
$213,740
Median United States Market Value
$235,294
Property Tax Assessment Values Across Carp Lake, Cheboygan County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49718 | $7,600 | $85,250 | $138,200 | $243,750 | $352,960 |
Source: Ownwell
Property Tax Bills Across Carp Lake, Cheboygan County, Michigan
Property tax bills in Carp Lake, located in Cheboygan County, Michigan, are determined by assessing the value of a property and applying the local tax rate. The median home price in Carp Lake is $129,800, which influences the assessed value used to calculate the tax bill. Homeowners in this area experience a range of tax bills, with the 25th percentile at $463 and the 75th percentile at $1,630, while the 90th percentile reaches $2,777. Compared to the national median property tax bill of $2,400, many residents in Carp Lake face lower tax bills, though some can exceed the national average.
Factors such as property size, location, and improvements can impact the assessed value, thus affecting the tax bill. Ownwell offers services to help homeowners in Carp Lake potentially reduce their property tax bills by appealing assessments and identifying applicable exemptions. By leveraging expert knowledge of local tax regulations and providing personalized assistance, Ownwell can help homeowners achieve significant savings on their property taxes, ensuring they pay only their fair share.
Median Carp Lake Tax Bill
$1,400
Median Cheboygan County Tax Bill
$1,565
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across Carp Lake, Cheboygan County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49718 | $161 | $763 | $1,400 | $2,744 | $4,063 |
Source: Ownwell