Tustin, Lake County, Michigan Property Taxes
Median Tustin, MI effective property tax rate: 0.36%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Tustin, MI home value: $122,700
Median annual Tustin, MI tax bill: $422, $1,978 lower than the national median property tax bill of $2,400.
How are property taxes in Lake County calculated?
Property taxes in Tustin, 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 Tustin’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Tustin, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Tustin, Lake County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.91%
Estimate Property Tax Bill
$1,438
$1,334
Property Tax Rates Across Tustin, Lake County, Michigan
Local government entities are responsible for setting tax rates, which can vary significantly within a state. This variation is due to each county's process of estimating its required budget to provide essential services and then dividing that budget by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is the core of the annual process.
In Tustin, located in Lake County, Michigan, the effective property tax rate is notably lower than both the state and national medians. With Michigan's median property tax rate at 1.54% and the national median at 1.02%, Tustin's rate of 0.36% offers significant savings. This means homeowners in Tustin pay a lower percentage of their property's assessed value in taxes compared to many other areas. The reduced tax burden can be an attractive factor for potential homebuyers or current residents looking to manage their expenses. Comparing Tustin's rate to other cities in Michigan and the U.S. highlights its affordability and potential as a desirable location for property investment.
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 Tustin Tax Rate
0.91%
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 Tustin, Lake County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49688 | 0.63% | 0.77% | 0.91% | 1.25% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Tustin, Lake County, Michigan
When examining property taxes in Tustin, 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 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 Tustin.
For example, the median home price in Tustin is $122,700, with tax bills ranging significantly across the county. Zip code 49688 has the highest median home price at $122,700.
Property Tax Assessment Values Across Tustin, Lake County, Michigan
Source: Ownwell
$67,600
$115,900
$164,200
Median Tustin Market Value
$158,000
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 Tustin, Lake County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49688 | $47,760 | $95,000 | $158,000 | $235,400 | $413,080 |
Source: Ownwell
Property Tax Bills Across Tustin, Lake County, Michigan
Median Tustin Tax Bill
$1,476
Median Lake County Tax Bill
$1,026
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across Tustin, Lake County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49688 | $561 | $962 | $1,476 | $2,188 | $3,899 |
Source: Ownwell