Mullett Lake, Cheboygan County, Michigan Property Taxes
Median Mullett Lake, MI effective property tax rate: 0.94%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Mullett Lake, MI home value: $575,800
Median annual Mullett Lake, MI tax bill: $4,238, $1,838 higher than the national median property tax bill of $2,400.
How are property taxes in Cheboygan calculated?
Property taxes in Mullett 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 Mullett Lake’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Mullett Lake, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Mullett Lake, Cheboygan County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.94%
Estimate Property Tax Bill
$5,413
$5,023
Property Tax Rates Across Mullett Lake, Cheboygan County, Michigan
Local government entities are responsible for setting property tax rates, which can differ significantly across various regions. Annually, each county estimates its budgetary needs for public services and divides this amount by the total value of all taxable properties within its boundaries, resulting in the property tax rate. This process, while simplified, involves votes and legal considerations to finalize the rates and budgets.
In Mullett Lake, located in Cheboygan County, Michigan, the effective property tax rate is a reflection of this process. When compared to other areas within Michigan and the national median, Mullett Lake's rate provides insight into the local fiscal landscape. The property tax rate here aligns closely with the state median, offering a perspective on how local taxes compare to broader benchmarks.
Understanding these rates is crucial for property owners as they directly impact annual tax bills. By examining Mullett Lake's property tax rate in conjunction with state and national figures, residents can gain a clearer picture of their financial obligations and how they stack up against other regions.
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 Mullett Lake Tax Rate
0.94%
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
0.50%
Median Effective Michigan Tax Rate
1.07%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Mullett Lake, Cheboygan County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49761 | 0.48% | 0.61% | 0.94% | 1.13% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Mullett Lake, Cheboygan County, Michigan
When examining property taxes in Mullett 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 Mullett Lake. For example, the median home price in Mullett Lake is $575,800, with tax bills ranging significantly across the county. 49761 has the highest median home price at $575,800.
Property Tax Assessment Values Across Mullett Lake, Cheboygan County, Michigan
Source: Ownwell
$100,600
$350,500
$600,400
Median Mullett Lake Market Value
$575,800
Median Cheboygan County Market Value
$151,800
Median Michigan Market Value
$177,800
Median United States Market Value
$235,294
Property Tax Assessment Values Across Mullett Lake, Cheboygan County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49761 | $246,380 | $303,400 | $575,800 | $848,250 | $1,074,240 |
Source: Ownwell
Property Tax Bills Across Mullett Lake, Cheboygan County, Michigan
Median Mullett Lake Tax Bill
$4,238
Median Cheboygan County Tax Bill
$843
Median Michigan Tax Bill
$1,795
Median United States Tax Bill
$2,400
Property Tax Bills Across Mullett Lake, Cheboygan County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49761 | $1,164 | $2,950 | $4,238 | $6,924 | $10,293 |
Source: Ownwell