49402 Property Tax Rate

Property owners in ZIP code 49402 (Branch, Michigan) pay a median of $1,511/year in property taxes on homes valued at $162,200. This translates to an effective tax rate of 0.93%, which is 24% below the Michigan state average of 1.22%.

The monthly property tax burden for a median-valued home in 49402 is approximately $126, which factors into escrow payments on mortgages. This ZIP code is located within Lake County. This is $915 less than the Michigan average of $2,426/year.

Compared to similar ZIP codes in Michigan, 49402 has lower property taxes. ZIP codes with similar effective rates include 48041 (0.93%) and 49620 (0.93%).

In Branch, property taxes represent approximately 3.0% of the median household income of $50,563, providing context for the relative tax burden on homeowners in this area.

Under Proposal A, your property assessment resets to market value upon purchase in Lake County, eliminating any cap the prior owner benefited from. Apply for the Principle Residence Exemption (PRE) with the Lake County Assessor within 45 days of closing to reduce school operating taxes on your primary residence. File your PRE promptly with the Lake County Assessor to ensure eligibility for tax savings.