Lake City, Missaukee County, Michigan Property Taxes
Median Lake City, MI effective property tax rate: 1.06%, slightly higher than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Lake City, MI home value: $114,600
Median annual Lake City, MI tax bill: $1,181, $1,219 lower than the national median property tax bill of $2,400.
How are property taxes in Missaukee County calculated?
Property taxes in Lake 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 Lake City’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lake City, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lake City, Missaukee County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.06%
Estimate Property Tax Bill
$1,215
$1,127
Ownwell’s Lake City Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lake City with just two data points. By entering your property's estimated assessed value, our calculator applies Lake 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 Missaukee County. For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Lake City, Missaukee County, Michigan
Local government entities determine tax rates, which can vary significantly within a state. Each year, counties estimate their budget needs to provide essential services and divide that by the total value of all taxable properties within their jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the annual process.
In Lake City, located in Missaukee County, Michigan, the effective property tax rate stands at 1.06%. This rate is slightly above the national median property tax rate of 1.02%. When compared to the median property tax rate in Michigan, which is also 1.06%, Lake City aligns closely with the state average. This consistency reflects the uniform approach to property tax assessment within the region.
For property owners in Lake City, understanding these rates is crucial for effective financial planning. By staying informed, they can better anticipate their annual tax liabilities and explore opportunities for appeals or exemptions, ensuring they are not overburdened by property taxes.
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 City Tax Rate
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 Missaukee County Tax Rate
0.95%
Median Effective Michigan Tax Rate
1.07%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lake City, Missaukee County, Michigan
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
49651 | 0.68% | 0.81% | 1.06% | 1.44% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Lake City, Missaukee County, Michigan
When examining property taxes in Lake City, 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 Missaukee 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 Missaukee County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Lake City. For example, the median home price in Lake City is $114,600, with tax bills ranging significantly across the county. Zip code 49651 has the highest median home price at $114,600.
Property Tax Assessment Values Across Lake City, Missaukee County, Michigan
Source: Ownwell

$98,300
$125,850
$153,400
Median Lake City Market Value
$114,600
Median Missaukee County Market Value
$117,600
Median Michigan Market Value
$177,800
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lake City, Missaukee County, Michigan
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
49651 | $33,920 | $60,800 | $114,600 | $201,800 | $326,360 |
Source: Ownwell
Property Tax Bills Across Lake City, Missaukee County, Michigan
Median Lake City Tax Bill
$1,181
Median Missaukee County Tax Bill
$1,099
Median Michigan Tax Bill
$1,795
Median United States Tax Bill
$2,400
Property Tax Bills Across Lake City, Missaukee County, Michigan
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
49651 | $353 | $651 | $1,181 | $2,100 | $3,899 |
Source: Ownwell