Bear Lake, Manistee County, Michigan Property Taxes
Median Bear Lake, MI effective property tax rate: 0.97%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Bear Lake, MI home value: $177,800
Median annual Bear Lake, MI tax bill: $1,653, $747 lower than the national median property tax bill of $2,400.
How are property taxes in Manistee calculated?
Property taxes in Bear Lake, 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 Bear Lake’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bear Lake, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Bear Lake, Manistee County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.84%
Estimate Property Tax Bill
$2,013
$1,868
Property Tax Rates Across Bear Lake, Manistee County, Michigan
Local government entities determine tax rates, which can differ significantly within a state. This variation stems from each county's annual budget assessment, where they calculate the funds needed for public services. The total budget is then divided by the cumulative value of all taxable property in the area, resulting in the property tax rate. This process, while influenced by votes and legislation, is essentially how annual property tax rates are set.
Comparing Bear Lake's effective property tax rate to other cities in Michigan, it's important to note that Bear Lake's rate is slightly below the national median of 1.02%. The median property tax rate across Michigan is 0.97%, which aligns with Bear Lake's rate. This indicates that residents in Bear Lake enjoy a relatively favorable tax rate compared to the national average. However, within Michigan, Bear Lake's rate is consistent, neither the highest nor the lowest, which suggests a balanced approach to property taxation in the area.
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 Bear Lake Tax Rate
0.84%
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 Manistee County Tax Rate
1.05%
Median Effective Michigan Tax Rate
1.05%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Bear Lake, Manistee County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49614 | 0.52% | 0.65% | 0.84% | 1.18% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Bear Lake, Manistee County, Michigan
When examining property taxes in Bear Lake, 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 Manistee 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 Manistee 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 Bear Lake.
For example, the median home price in Bear Lake is $177,800, with tax bills ranging significantly across the county. Zip code 49614 has the highest median home price at $177,800.
Property Tax Assessment Values Across Bear Lake, Manistee County, Michigan
Source: Ownwell
$106,400
$200,600
$294,800
Median Bear Lake Market Value
$239,600
Median Manistee County Market Value
$186,000
Median Michigan Market Value
$213,740
Median United States Market Value
$235,294
Property Tax Assessment Values Across Bear Lake, Manistee County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49614 | $67,860 | $138,450 | $239,600 | $374,900 | $557,140 |
Source: Ownwell
Property Tax Bills Across Bear Lake, Manistee County, Michigan
In Bear Lake, located in Manistee County, MI, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as local government budgets, school funding needs, and public services influence the tax rate. Homeowners in Bear Lake face a median property tax bill of $1,653, which is below the national median of $2,400, making it relatively affordable compared to many other areas.
However, tax bills can vary significantly, with the 25th percentile at $953 and the 90th percentile reaching up to $4,601. This variability can be challenging for homeowners to navigate. Ownwell offers valuable assistance by helping homeowners appeal their property tax assessments and identify potential exemptions. By leveraging expertise in local tax regulations and assessment practices, Ownwell can help homeowners reduce their tax burden, ensuring they only pay their fair share and potentially saving them hundreds or even thousands of dollars annually.
Median Bear Lake Tax Bill
$1,974
Median Manistee County Tax Bill
$1,871
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across Bear Lake, Manistee County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49614 | $593 | $1,089 | $1,974 | $3,428 | $5,747 |
Source: Ownwell