Branch, Lake County, Michigan Property Taxes
Median BRANCH, 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 BRANCH, MI home value: $98,700
Median annual BRANCH, MI tax bill: $387, $2,013 lower than the national median property tax bill of $2,400.
How are property taxes in Lake calculated?
Property taxes in BRANCH, 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 BRANCH’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in BRANCH, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Branch, Lake County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.78%
Estimate Property Tax Bill
$1,239
$1,149
Property Tax Rates Across Branch, Lake County, Michigan
Local government entities are responsible for setting tax rates, which can differ significantly within a state. The annual process involves each county estimating its required budget to provide essential services and then dividing that by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. While there are votes and laws involved in setting tax rates and budgets, this is essentially how it works each year.
In BRANCH, located in Lake County, Michigan, the effective property tax rate is a notable point of comparison. While Michigan's median property tax rate is 0.38%, it is significantly lower than the national median property tax rate of 1.02%. This means residents in BRANCH benefit from a more favorable tax rate compared to many other areas in the United States. Understanding these differences can be crucial for property owners seeking to manage their tax liabilities effectively. Whether you're a homeowner or an investor, being aware of these rates can provide valuable insights into your financial planning and property investment strategies.
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 Branch Tax Rate
0.78%
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 County Tax Rate
0.99%
Median Effective Michigan Tax Rate
1.05%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Branch, Lake County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49402 | 0.48% | 0.60% | 0.78% | 1.08% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Branch, Lake County, Michigan
When examining property taxes in BRANCH, 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 Lake County Assessor's Office 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 Lake 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 BRANCH. For example, the median home price in BRANCH is $98,700, with tax bills ranging significantly across the county. Zip code 49402 has the highest median home price at $98,700.
Property Tax Assessment Values Across Branch, Lake County, Michigan
Source: Ownwell
$67,600
$115,900
$164,200
Median Branch Market Value
$158,800
Median Lake County Market Value
$112,000
Median Michigan Market Value
$213,740
Median United States Market Value
$235,294
Property Tax Assessment Values Across Branch, Lake County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49402 | $45,800 | $84,100 | $158,800 | $263,100 | $405,160 |
Source: Ownwell
Property Tax Bills Across Branch, Lake County, Michigan
In the city of Branch, located in Lake County, MI, property tax bills are determined by assessing the property's market value and applying the local tax rate. Homeowners in this area experience a range of tax bills, with the 25th percentile at $194 and the 75th percentile reaching $640. The 90th percentile tax bill can go as high as $1,117. The highest and lowest median tax bill in the region is $387, which is significantly lower than the national median property tax bill of $2,400. This calculation considers factors such as the property's assessed value and any applicable exemptions.
For homeowners, these tax bills can represent a substantial financial obligation. Ownwell offers property tax appeal and exemption services, helping homeowners potentially reduce their tax burden. By analyzing the assessed value and identifying possible discrepancies or exemptions, Ownwell assists in ensuring that homeowners pay only what they owe. This service can lead to significant savings, providing financial relief and peace of mind for property owners in Branch.
Median Branch Tax Bill
$1,182
Median Lake County Tax Bill
$1,026
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across Branch, Lake County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49402 | $360 | $655 | $1,182 | $1,918 | $3,391 |
Source: Ownwell