Lake, Isabella County, Michigan Property Taxes
Median LAKE, MI effective property tax rate: 1.00%, slightly lower than the national median of 1.02%, but also lower than the Michigan state median of 1.07%.
Median LAKE, MI home value: $140,000
Median annual LAKE, MI tax bill: $1,330, $1,070 lower than the national median property tax bill of $2,400.
How are property taxes in Isabella calculated?
Property taxes in 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 LAKE’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in LAKE, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lake, Isabella County, Michigan Property Tax Bill Calculator
$100,000
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Median Effective Tax Rate
1%
Estimate Property Tax Bill
$1,400
$1,299
Property Tax Rates Across Lake, Isabella County, Michigan
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 Lake Tax Rate
1.00%
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 Isabella County Tax Rate
0.80%
Median Effective Michigan Tax Rate
1.07%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lake, Isabella County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48632 | 0.61% | 0.80% | 1.00% | 1.34% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Lake, Isabella County, Michigan
When examining property taxes in Lake, Michigan, 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 Isabella 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 Isabella 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 Lake.
For example, the median home price in Lake is $140,000, with tax bills ranging significantly across the county. Zip code 48632 has the highest median home price at $140,000.
Property Tax Assessment Values Across Lake, Isabella County, Michigan
Source: Ownwell
$64,000
$108,600
$153,200
Median Lake Market Value
$140,000
Median Isabella County Market Value
$140,600
Median Michigan Market Value
$177,800
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lake, Isabella County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48632 | $38,600 | $74,250 | $140,000 | $204,350 | $286,380 |
Source: Ownwell
Property Tax Bills Across Lake, Isabella County, Michigan
In Lake, located in Isabella County, MI, property tax bills are determined by assessing the property's market value and applying the local tax rate. The median home price in this area is $140,000, which influences the overall tax bill. Homeowners in Lake can expect tax bills that vary widely, with the 25th percentile at $790 and the 75th percentile reaching $2,022. Notably, the 90th percentile tax bill can be as high as $3,048, indicating a significant range based on property value and local assessments. Compared to the national median property tax bill of $2,400, Lake's tax bills can be lower or higher depending on specific circumstances.
For homeowners looking to manage their property tax expenses, Ownwell offers tailored services to appeal and potentially reduce tax bills. By analyzing property assessments and identifying discrepancies, Ownwell can help ensure that homeowners are not overpaying. This service can be particularly beneficial in areas like Lake, where tax bills can vary significantly, providing an opportunity for substantial savings.
Median Lake Tax Bill
$1,330
Median Isabella County Tax Bill
$1,118
Median Michigan Tax Bill
$1,795
Median United States Tax Bill
$2,400
Property Tax Bills Across Lake, Isabella County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48632 | $368 | $790 | $1,330 | $2,022 | $3,048 |
Source: Ownwell