Chase, Lake County, Michigan Property Taxes
Median CHASE, MI effective property tax rate: 0.35%, significantly lower than the national median of 1.02%, and also lower than the Michigan state median of 1.07%.
Median CHASE, MI home value: $104,200
Median annual CHASE, MI tax bill: $357, $2,043 lower than the national median property tax bill of $2,400.
How are property taxes in Lake County calculated?
Property taxes in CHASE, 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 CHASE’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in CHASE, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Chase, Lake County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.76%
Estimate Property Tax Bill
$1,082
$1,004
Property Tax Rates Across Chase, Lake 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 Chase Tax Rate
0.76%
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 Chase, Lake County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49623 | 0.46% | 0.61% | 0.76% | 1.04% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Chase, Lake County, Michigan
When examining property taxes in Chase, 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 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 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 Chase. For example, the median home price in Chase is $104,200, with tax bills ranging significantly across the county. 49623 has the highest median home price at $104,200.
Property Tax Assessment Values Across Chase, Lake County, Michigan
Source: Ownwell
$67,600
$115,900
$164,200
Median Chase Market Value
$142,400
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 Chase, Lake County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49623 | $44,800 | $82,950 | $142,400 | $230,700 | $329,940 |
Source: Ownwell
Property Tax Bills Across Chase, Lake County, Michigan
In Chase, located in Lake County, MI, property tax bills are calculated based on the assessed value of a home. This assessed value is typically a percentage of the market value, and the local tax rate is applied to determine the annual tax bill. In Chase, the median property tax bill is $357, significantly lower than the national median property tax bill of $2,400. This difference highlights the relatively lower tax burden on homeowners in this area.
Factors influencing the tax bill include the property's assessed value and the local tax rate. Homeowners in Chase benefit from a tax rate that is below the national median of 1.02%, making it an attractive location for those seeking lower property taxes. However, even with lower rates, it's crucial for homeowners to ensure their property is assessed accurately to avoid overpaying.
Ownwell assists homeowners by reviewing their property assessments and identifying potential discrepancies. By appealing incorrect assessments, Ownwell helps homeowners secure fair tax bills and potentially save hundreds of dollars annually.
Median Chase Tax Bill
$1,102
Median Lake County Tax Bill
$1,026
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across Chase, Lake County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49623 | $376 | $638 | $1,102 | $1,792 | $2,580 |
Source: Ownwell