49651 Property Tax Rate

Property owners in ZIP code 49651 (Lake City, Michigan) pay a median of $1,674/year in property taxes on homes valued at $165,100. This translates to an effective tax rate of 1.01%, which is 17% below the Michigan state average of 1.22%.

The monthly property tax burden for a median-valued home in 49651 is approximately $140, which factors into escrow payments on mortgages. This ZIP code is located within Missaukee County. This is $752 less than the Michigan average of $2,426/year.

Compared to similar ZIP codes in Michigan, 49651 has higher property taxes. ZIP codes with similar effective rates include 48064 (1.01%) and 48619 (1.01%).

In Lake City, property taxes represent approximately 2.7% of the median household income of $61,524, providing context for the relative tax burden on homeowners in this area.

Proposal A triggers full market-value reassessment when you purchase, ending the prior owner's annual capped increase privilege. The Principle Residence Exemption (PRE) reduces school operating taxes for primary residences — file with the Missaukee County Assessor by March 1 of the year following your purchase date. Apply for your PRE with the Missaukee County Assessor immediately after closing and submit before March 1 to avoid losing the exemption for that tax year.