Long Lake, Iosco County, Michigan Property Taxes

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

Median Long Lake, MI effective property tax rate: 2.41%, significantly higher than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Long Lake, MI home value: $47,600
Median annual Long Lake, MI tax bill: $995, $1,405 lower than the national median property tax bill of $2,400.

How are property taxes in Iosco County calculated?

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

Last Updated March 1, 2025

Long Lake, Iosco County, Michigan Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.41%

Estimate Property Tax Bill

$1,147

$1,065

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

Property Tax Rates Across Long Lake, Iosco County, Michigan

Local government entities are responsible for setting property tax rates, which can vary significantly across Michigan. Each county determines its budgetary needs for public services and divides this requirement by the total assessed value of all taxable properties within its borders. This division results in the property tax rate. Although setting tax rates and budgets involves various votes and legal considerations, this is essentially the process followed each year.

In Long Lake, located in Iosco County, the effective property tax rate stands at 2.41%, which is considerably higher than both the Michigan state median and the national median of 1.02%. This rate reflects the county's budgetary requirements and the total assessed property value within the jurisdiction. While some areas in Michigan may have lower rates, Long Lake's rate is among the highest in the state. This makes it crucial for property owners in the area to explore potential tax exemptions and appeals to manage their tax liabilities effectively.

Property Tax Rates Across Long Lake, Iosco County, Michigan

Source: Ownwell

2.00%

2.63%

3.26%

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 Long Lake Tax Rate

2.41%

Median Effective Iosco County Tax Rate

2.40%

Median Effective Michigan Tax Rate

1.07%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Long Lake, Iosco County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
48743	1.30%	1.64%	2.41%	2.99%	3.55%

Source: Ownwell

Property Tax Assessment Values Across Long Lake, Iosco County, Michigan

When examining property taxes in Long 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 Iosco 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 Iosco 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 Long Lake. For example, the median home price in Long Lake is $47,600, with tax bills ranging significantly across the county. Zip code 48743 has the highest median home price at $47,600.

Property Tax Assessment Values Across Long Lake, Iosco County, Michigan

Source: Ownwell

$32,050

$49,275

$66,500

Median Long Lake Market Value

$47,600

Median Iosco County Market Value

$51,600

Median Michigan Market Value

$177,800

Median United States Market Value

$235,294

Property Tax Assessment Values Across Long Lake, Iosco County, Michigan

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
48743	$13,160	$21,800	$47,600	$89,700	$178,960

Source: Ownwell

Property Tax Bills Across Long Lake, Iosco County, Michigan

In Long Lake, Iosco County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value. The tax rate, set by local taxing authorities, is then applied to this assessed value to calculate the annual tax bill. Homeowners in Long Lake typically face tax bills ranging from $589 at the 25th percentile to $2,976 at the 90th percentile, with a median bill of $995. This is significantly lower than the national median property tax bill of $2,400. Factors such as property improvements, neighborhood changes, and local government budgets can influence tax bills, impacting the financial burden on homeowners. Ownwell can assist homeowners in Long Lake by reviewing their property assessments and ensuring they are not overpaying. By identifying discrepancies or opportunities for exemptions, Ownwell helps clients potentially reduce their property tax bills, providing valuable savings and financial relief.

Property Tax Bills Across Long Lake, Iosco County, Michigan

Source: Ownwell

$726

$1,416

$2,106

Median Long Lake Tax Bill

$995

Median Iosco County Tax Bill

$1,150

Median Michigan Tax Bill

$1,795

Median United States Tax Bill

$2,400

Property Tax Bills Across Long Lake, Iosco County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
48743	$375	$589	$995	$1,672	$2,976

Source: Ownwell