Reed City, Lake County, Michigan Property Taxes

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

Median Reed City, MI effective property tax rate: 0.35%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Reed City, MI home value: $108,900
Median annual Reed City, MI tax bill: $393, $2,007 lower than the national median property tax bill of $2,400.

How are property taxes in Lake County calculated?

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

Last Updated March 1, 2025

Reed City, Lake County, Michigan Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.75%

Estimate Property Tax Bill

$1,125

$1,044

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

Property Tax Rates Across Reed City, Lake County, Michigan

Local government entities in Reed City, located in Lake County, MI, determine their property tax rates, which can vary significantly within the state. This variation happens because each county annually estimates its required budget to provide essential services and divides this by the total value of all taxable properties within its jurisdiction. This calculation determines the property tax rate. While voting and legislation play roles in setting these rates and budgets, this is the fundamental process followed each year.

Reed City's effective property tax rate can be compared to other cities in Michigan and to the median property tax rates in Michigan and the U.S. The median property tax rate in Michigan is 1.54%, which is higher than the national median of 1.02%. This makes Reed City's rate notably lower than both the state and national averages. Understanding these differences can help property owners make informed decisions about their investments and potential savings.

Property Tax Rates Across Reed City, Lake County, Michigan

Source: Ownwell

0.75%

0.90%

1.06%

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 Reed City Tax Rate

0.75%

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 Reed City, Lake County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
49677	0.51%	0.63%	0.75%	1.01%	1.28%

Source: Ownwell

Property Tax Assessment Values Across Reed City, Lake County, Michigan

When examining property taxes in Reed City, 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.

In Lake County, assessment notices 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 Reed City. For example, the median home price in Reed City is $108,900, with tax bills ranging significantly across the county. ZIP code 49677 has the highest median home price at $108,900.

Property Tax Assessment Values Across Reed City, Lake County, Michigan

Source: Ownwell

$67,600

$115,900

$164,200

Median Reed City Market Value

$150,000

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 Reed City, Lake County, Michigan

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
49677	$50,160	$85,400	$150,000	$253,600	$363,760

Source: Ownwell

Property Tax Bills Across Reed City, Lake County, Michigan

In Reed City, located in Lake County, MI, property tax bills are determined by assessing the property's value and applying the local tax rate. The assessed value is a percentage of the market value, which is then multiplied by the local tax rate to calculate the annual tax bill. The median home price in Reed City is $108,900, with tax bills ranging from $214 at the 25th percentile to $979 at the 90th percentile. Compared to the national median property tax bill of $2,400, Reed City homeowners enjoy relatively lower tax bills. However, even within this range, there is potential for savings. Factors such as property improvements, neighborhood changes, and market fluctuations can influence assessed values, potentially leading to higher tax bills. Ownwell offers expert property tax consulting services to help homeowners navigate these complexities. By providing personalized assessments and filing appeals when necessary, Ownwell can help homeowners in Reed City reduce their property tax burdens and ensure they are not overpaying.

Property Tax Bills Across Reed City, Lake County, Michigan

Source: Ownwell

$695

$1,086

$1,476

Median Reed City Tax Bill

$1,230

Median Lake County Tax Bill

$1,026

Median Michigan Tax Bill

$2,084

Median United States Tax Bill

$2,400

Property Tax Bills Across Reed City, Lake County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
49677	$406	$704	$1,230	$1,840	$2,811

Source: Ownwell