Irons, Lake County, Michigan Property Taxes

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

Median Irons, MI effective property tax rate: 0.39%, significantly lower than the national median of 1.02%, and also lower than the Michigan state median of 1.07%.
Median Irons, MI home value: $104,300
Median annual Irons, MI tax bill: $385, $2,015 lower than the national median property tax bill of $2,400.

How are property taxes in Lake County calculated?

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

Last Updated March 1, 2025

Irons, Lake County, Michigan Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.39%

Estimate Property Tax Bill

$407

$377

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

Property Tax Rates Across Irons, Lake County, Michigan

Local government entities determine tax rates, which can significantly differ within a state. Each county calculates its required budget for services and divides it by the total value of all taxable property within its jurisdiction. This process establishes the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is the essence of the annual procedure. In Irons, located in Lake County, Michigan, the effective property tax rate is significantly lower than both the state's median and the national median property tax rate of 1.02%. The median property tax rate in Michigan is 0.39%, which is also below the national average. This lower rate can be attributed to the specific budgetary needs and property values within the county. Comparing Irons' property tax rate to other cities in Michigan and across the U.S. highlights the variations that can exist even within a single state, emphasizing the importance of understanding local tax dynamics.

Property Tax Rates Across Irons, Lake County, Michigan

Source: Ownwell

0.32%

0.38%

0.43%

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 Irons Tax Rate

0.39%

Median Effective Lake County Tax Rate

0.38%

Median Effective Michigan Tax Rate

1.07%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Irons, Lake County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
49644	0.24%	0.33%	0.39%	0.43%	0.49%

Source: Ownwell

Property Tax Assessment Values Across Irons, Lake County, Michigan

When examining property taxes in Irons, 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 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. Assessment notices: Assessment notices in Lake County are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Irons. For example, the median home price in Irons is $104,300, with tax bills ranging significantly across the county. 49644 has the highest median home price at $104,300.

Property Tax Assessment Values Across Irons, Lake County, Michigan

Source: Ownwell

$41,400

$82,050

$122,700

Median Irons Market Value

$104,300

Median Lake County Market Value

$80,200

Median Michigan Market Value

$177,800

Median United States Market Value

$235,294

Property Tax Assessment Values Across Irons, Lake County, Michigan

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
49644	$31,000	$55,050	$104,300	$177,350	$282,400

Source: Ownwell

Property Tax Bills Across Irons, Lake County, Michigan

In Irons, located in Lake County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the market value and is multiplied by the local tax rate to determine the annual tax bill. For homeowners in Irons, the median home price is $104,300, with property tax bills ranging from $209 at the 25th percentile to $1,085 at the 90th percentile. The median property tax bill stands at $385, notably lower than the national median of $2,400. This variation can significantly affect homeowners, as higher tax bills can impact affordability and long-term financial planning. Ownwell assists homeowners by providing expert property tax appeal services, potentially lowering their assessed value and, consequently, their tax bills. By leveraging local market insights and a deep understanding of tax regulations, Ownwell aims to help homeowners achieve significant savings, ensuring they only pay their fair share in property taxes.

Property Tax Bills Across Irons, Lake County, Michigan

Source: Ownwell

$165

$294

$422

Median Irons Tax Bill

$385

Median Lake County Tax Bill

$302

Median Michigan Tax Bill

$1,795

Median United States Tax Bill

$2,400

Property Tax Bills Across Irons, Lake County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
49644	$125	$209	$385	$661	$1,085

Source: Ownwell