49796 Property Tax Rate

Property owners in ZIP code 49796 (Walloon Lake, Michigan) pay a median of $2,083/year in property taxes on homes valued at $267,700. This translates to an effective tax rate of 0.78%, which is 36% below the Michigan state average of 1.22%.

The monthly property tax burden for a median-valued home in 49796 is approximately $174, which factors into escrow payments on mortgages. This ZIP code is located within Charlevoix County. This is $343 less than the Michigan average of $2,426/year.

Compared to similar ZIP codes in Michigan, 49796 has lower property taxes. ZIP codes with similar effective rates include 48416 (0.78%) and 48177 (0.78%).

In Walloon Lake, property taxes represent approximately 2.5% of the median household income of $84,667, providing context for the relative tax burden on homeowners in this area.

Proposal A triggers full reassessment to market value when you buy, ending the prior owner's annual capped increases. The Principle Residence Exemption (PRE) reduces school operating taxes for primary residences — submit your application to the Charlevoix County Assessor by March 1 of the year after you purchase. Contact the Charlevoix County Assessor within 60 days of closing to obtain and file your PRE application before the March 1 deadline.