Otter Lake, Tuscola County, Michigan Property Taxes
Median Otter Lake, MI effective property tax rate: 0.31%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Otter Lake, MI home value: $171,300
Median annual Otter Lake, MI tax bill: $517, $1,883 lower than the national median property tax bill of $2,400.
How are property taxes in Tuscola calculated?
Property taxes in Otter 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 Otter Lake’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Otter Lake, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Otter Lake, Tuscola County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.75%
Estimate Property Tax Bill
$1,565
$1,453
Property Tax Rates Across Otter Lake, Tuscola County, Michigan
Local government entities are responsible for setting property tax rates, which can vary significantly within Michigan. Each year, Tuscola County determines its necessary budget to fund services and divides this by the total assessed value of all taxable property in the area, resulting in the property tax rate. While votes and legislation play a role in establishing these rates and budgets, this is essentially the annual procedure.
In Otter Lake, situated in Tuscola County, the effective property tax rate is 0.31%. This is considerably lower than the national median property tax rate of 1.02%. When compared to other cities in Michigan, Otter Lake’s rate stands out for its affordability. The median property tax bill in Michigan is often lower than the national median of $2,400, making Otter Lake an attractive option for property owners looking to reduce their tax burden.
Understanding these rates can help property owners make informed decisions and potentially save money through property tax appeals or exemptions.
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 Otter Lake Tax Rate
0.75%
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 Tuscola County Tax Rate
0.92%
Median Effective Michigan Tax Rate
1.05%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Otter Lake, Tuscola County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48464 | 0.42% | 0.56% | 0.75% | 1.07% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Otter Lake, Tuscola County, Michigan
When examining property taxes in Otter 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 Tuscola 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 Tuscola 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 Otter Lake.
For example, the median home price in Otter Lake is $171,300, with tax bills ranging significantly across the county. Zip code 48464 has the highest median home price at $171,300.
Property Tax Assessment Values Across Otter Lake, Tuscola County, Michigan
Source: Ownwell
$10,700
$119,350
$228,000
Median Otter Lake Market Value
$208,700
Median Tuscola County Market Value
$151,400
Median Michigan Market Value
$213,740
Median United States Market Value
$235,294
Property Tax Assessment Values Across Otter Lake, Tuscola County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48464 | $112,600 | $160,550 | $208,700 | $272,200 | $331,300 |
Source: Ownwell
Property Tax Bills Across Otter Lake, Tuscola County, Michigan
Median Otter Lake Tax Bill
$1,463
Median Tuscola County Tax Bill
$1,305
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across Otter Lake, Tuscola County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48464 | $629 | $1,039 | $1,463 | $2,222 | $3,361 |
Source: Ownwell