49304 Property Tax Rate

Property owners in ZIP code 49304 (Baldwin, Michigan) pay a median of $1,318/year in property taxes on homes valued at $110,700. This translates to an effective tax rate of 1.19%, which is near the Michigan state average of 1.22%.

The monthly property tax burden for a median-valued home in 49304 is approximately $110, which factors into escrow payments on mortgages. This ZIP code is located within Lake County. This is $1,108 less than the Michigan average of $2,426/year.

Compared to similar ZIP codes in Michigan, 49304 has higher property taxes. ZIP codes with similar effective rates include 48729 (1.19%) and 48386 (1.19%).

In Baldwin, property taxes represent approximately 3.3% of the median household income of $39,567, providing context for the relative tax burden on homeowners in this area.

If you're considering purchasing a home in 49304, keep in mind that property taxes are based on the assessed value assigned by the local assessor, which may differ from the purchase price. In some states, properties are reassessed at or near the sale price upon transfer of ownership. For the most current tax information for a specific property, consult Lake County's tax assessor directly.