48861 Property Tax Rate

Property owners in ZIP code 48861 (Mulliken, Michigan) pay a median of $2,082/year in property taxes on homes valued at $173,500. This translates to an effective tax rate of 1.20%, which is near the Michigan state average of 1.22%.

The monthly property tax burden for a median-valued home in 48861 is approximately $174, which factors into escrow payments on mortgages. This ZIP code is located within Eaton County. This is $344 less than the Michigan average of $2,426/year.

Compared to similar ZIP codes in Michigan, 48861 has lower property taxes. ZIP codes with similar effective rates include 48865 (1.20%) and 48005 (1.20%).

In Mulliken, property taxes represent approximately 2.4% of the median household income of $88,056, providing context for the relative tax burden on homeowners in this area.

Michigan's Proposal A triggers a full reassessment to market value when you purchase, eliminating the prior owner's 5% or CPI cap and potentially doubling your assessed value. Apply for the Principle Residence Exemption (PRE) with the Eaton County Assessor to lower your school operating tax portion — this exemption is the single most valuable relief available to homeowners here. File your PRE application within 45 days of purchase to avoid losing the exemption for that tax year.