Lake, Clare County, Michigan Property Taxes

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

Median Lake, 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 Lake, MI home value: $84,600
Median annual Lake, MI tax bill: $278, $2,122 lower than the national median property tax bill of $2,400.

How are property taxes in Clare calculated?

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

Last Updated March 1, 2025

Lake, Clare County, Michigan Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.25%

Estimate Property Tax Bill

$1,303

$1,209

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

Property Tax Rates Across Lake, Clare County, Michigan

Local government entities set tax rates, which can vary widely within a state. Annually, 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. Although votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell.

In Lake, located in Clare County, Michigan, the effective property tax rate is remarkably low compared to other cities in Michigan and the national average. With a median property tax rate of 0.35%, Lake stands out as a more affordable option for property owners. This is significantly lower than the national median property tax rate of 1.02%, offering a considerable advantage for residents in terms of tax savings.

When considering relocation or investment in real estate, it's important to compare property tax rates, as they can have a substantial impact on overall expenses. Lake's favorable tax rate can lead to significant savings, making it an attractive option for homeowners and investors alike.

Property Tax Rates Across Lake, Clare County, Michigan

Source: Ownwell

0.77%

1.01%

1.25%

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 Tax Rate

1.25%

Median Effective Clare County Tax Rate

1.21%

Median Effective Michigan Tax Rate

1.05%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lake, Clare County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
48632	0.72%	0.91%	1.25%	1.59%	1.95%

Source: Ownwell

Property Tax Assessment Values Across Lake, Clare County, Michigan

When examining property taxes in Lake, 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 Clare 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. Assessment notices: In Clare 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. For example, the median home price in Lake is $84,600, with tax bills ranging significantly across the county. Zip code 48632 has the highest median home price at $84,600.

Property Tax Assessment Values Across Lake, Clare County, Michigan

Source: Ownwell

$87,900

$162,150

$236,400

Median Lake Market Value

$104,200

Median Clare County Market Value

$107,200

Median Michigan Market Value

$213,740

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lake, Clare County, Michigan

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
48632	$24,723	$51,000	$104,200	$194,362	$314,560

Source: Ownwell

Property Tax Bills Across Lake, Clare County, Michigan

In Lake, Michigan, property tax bills are determined by assessing the value of a home and applying the local tax rate. With a median home price of $84,600, the property tax bill can vary significantly based on the assessed value and local levies. Factors such as location within Clare County and any applicable exemptions also influence the final tax bill. For instance, the tax bill at the 25th percentile is $135, while at the 75th percentile, it rises to $532, and at the 90th percentile, it reaches $858. These figures highlight the variability homeowners face. Compared to the national median property tax rate of 1.02% and a median bill of $2,400, Lake's tax bills can be relatively lower. However, homeowners may still find their tax liabilities burdensome. Ownwell offers a solution by providing property tax appeal services that can help reduce these bills. By leveraging expertise in local tax regulations and appealing assessed values, Ownwell assists homeowners in potentially lowering their tax obligations, ensuring they pay only their fair share.

Property Tax Bills Across Lake, Clare County, Michigan

Source: Ownwell

$1,068

$1,518

$1,967

Median Lake Tax Bill

$1,196

Median Clare County Tax Bill

$1,244

Median Michigan Tax Bill

$2,084

Median United States Tax Bill

$2,400

Property Tax Bills Across Lake, Clare County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
48632	$333	$640	$1,196	$2,320	$3,771

Source: Ownwell