Otter Lake, Genesee County, Michigan Property Taxes

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

Median Otter Lake, MI effective property tax rate: 0.38%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Otter Lake, MI home value: $260,400
Median annual Otter Lake, MI tax bill: $945, $1,455 lower than the national median property tax bill of $2,400.

How are property taxes in Genesee County calculated?

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

Last Updated March 1, 2025

Otter Lake, Genesee 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

$990

$918

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

Property Tax Rates Across Otter Lake, Genesee County, Michigan

Local government entities determine tax rates, and these can vary significantly within a state. Each year, counties estimate the budget necessary to provide services and divide it by the total assessed value of all taxable property within their jurisdiction. This calculation yields the property tax rate. Although voting and legislation play roles in setting tax rates and budgets, this is essentially the annual process. In Otter Lake, located in Genesee County, MI, the effective property tax rate is notably lower than both the state and national medians. With Michigan's median property tax rate at 1.54%, Otter Lake offers a more affordable option for property owners. This is especially significant when compared to the national median property tax rate of 1.02%. The lower tax rate in Otter Lake could make it an attractive destination for potential homeowners looking to reduce their annual property tax bills. By providing a favorable tax environment, Otter Lake stands out as a community that balances the need for public services with the financial well-being of its residents.

Property Tax Rates Across Otter Lake, Genesee County, Michigan

Source: Ownwell

0.32%

1.36%

2.40%

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 Otter Lake Tax Rate

0.38%

Median Effective Genesee County Tax Rate

0.93%

Median Effective Michigan Tax Rate

1.07%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Otter Lake, Genesee County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
48464	0.29%	0.32%	0.38%	0.43%	0.49%

Source: Ownwell

Property Tax Assessment Values Across Otter Lake, Genesee County, Michigan

When examining property taxes in Otter 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 Genesee 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.

Assessment notices: In Genesee 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 Otter Lake.

For example, the median home price in Otter Lake is $260,400, with tax bills ranging significantly across the county. Zip code 48464 has the highest median home price at $260,400.

Property Tax Assessment Values Across Otter Lake, Genesee County, Michigan

Source: Ownwell

$42,400

$166,700

$291,000

Median Otter Lake Market Value

$260,400

Median Genesee County Market Value

$139,200

Median Michigan Market Value

$177,800

Median United States Market Value

$235,294

Property Tax Assessment Values Across Otter Lake, Genesee County, Michigan

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
48464	$148,520	$191,600	$260,400	$318,100	$408,640

Source: Ownwell

Property Tax Bills Across Otter Lake, Genesee County, Michigan

In Otter Lake, property tax bills are calculated based on the assessed value of a home, which is determined by Genesee County. This assessed value is then multiplied by the local property tax rate to determine the tax bill. With a median home price of $260,400, homeowners in Otter Lake can expect varying tax bills. The 25th percentile tax bill is around $748, while the 75th percentile tax bill reaches approximately $1,110. For those in the 90th percentile, tax bills can rise to $1,502, indicating a range that reflects different property values and tax rates within the area. Comparatively, the national median property tax bill stands at $2,400, showcasing Otter Lake's relatively lower property tax burden. However, homeowners can still benefit from ensuring their assessments are accurate and fair. Ownwell offers valuable property tax appeal services, helping homeowners potentially lower their tax bills by ensuring their property's assessed value is accurate, leading to significant savings in the long run.

Property Tax Bills Across Otter Lake, Genesee County, Michigan

Source: Ownwell

$375

$1,286

$2,196

Median Otter Lake Tax Bill

$945

Median Genesee County Tax Bill

$1,090

Median Michigan Tax Bill

$1,795

Median United States Tax Bill

$2,400

Property Tax Bills Across Otter Lake, Genesee County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
48464	$596	$748	$945	$1,110	$1,502

Source: Ownwell