Lakeview, Montcalm County, Michigan Property Taxes
Median Lakeview, MI effective property tax rate: 0.97%, significantly lower than the national median of 1.02%, and higher than the Michigan state median of 1.05%.
Median Lakeview, MI home value: $172,000
Median annual Lakeview, MI tax bill: $1,628, $772 lower than the national median property tax bill of $2,400.
How are property taxes in Montcalm calculated?
Property taxes in Lakeview, 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 Lakeview's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lakeview, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lakeview, Montcalm County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.97%
Estimate Property Tax Bill
$1,668
$1,548
Property Tax Rates Across Lakeview, Montcalm County, Michigan
Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
In Lakeview, located in Montcalm County, Michigan, the effective property tax rate offers a unique perspective when compared to other cities in the state and nationally. With Michigan’s median property tax rate slightly below the national median of 1.02%, residents in Lakeview benefit from a tax rate that is lower than the national average. This can be a significant advantage for homeowners seeking to optimize their property tax expenses.
Understanding how these rates compare can help residents make informed decisions about property investments and tax appeals. By recognizing the nuances in property tax assessments, Lakeview residents can better navigate their financial obligations and potentially reduce their tax liabilities.
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 Lakeview Tax Rate
0.97%
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 Montcalm County Tax Rate
0.91%
Median Effective Michigan Tax Rate
1.05%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lakeview, Montcalm County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48850 | 0.67% | 0.78% | 0.97% | 1.29% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Lakeview, Montcalm County, Michigan
When examining property taxes in Lakeview, 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 Montcalm 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 Montcalm 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 Lakeview. For example, the median home price in Lakeview is $172,000, with tax bills ranging significantly across the county. Zip code 48850 has the highest median home price at $172,000.
Property Tax Assessment Values Across Lakeview, Montcalm County, Michigan
Source: Ownwell
$97,300
$180,550
$263,800
Median Lakeview Market Value
$172,000
Median Montcalm County Market Value
$183,200
Median Michigan Market Value
$213,740
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lakeview, Montcalm County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48850 | $53,960 | $106,400 | $172,000 | $261,400 | $353,800 |
Source: Ownwell
Property Tax Bills Across Lakeview, Montcalm County, Michigan
In Lakeview, Montcalm County, Michigan, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is typically a percentage of the property's market value. Homeowners in Lakeview face a median property tax bill of $1,628, which is below the national median of $2,400. Factors such as the home's location, size, and any improvements made can influence the assessed value, impacting the overall tax bill. For example, tax bills range from $1,002 at the 25th percentile to $3,822 at the 90th percentile, reflecting the variability in property values and tax rates.
Ownwell can assist homeowners in Lakeview by reviewing their property assessments and identifying opportunities for tax savings. By filing appeals and securing exemptions, Ownwell helps ensure homeowners are not overpaying on their property taxes. This service can be particularly beneficial for those whose tax bills are on the higher end, as even small reductions can lead to significant savings over time.
Median Lakeview Tax Bill
$1,628
Median Montcalm County Tax Bill
$1,657
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across Lakeview, Montcalm County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48850 | $584 | $1,002 | $1,628 | $2,591 | $3,822 |
Source: Ownwell