Invest in Michigan Vacation Property in This City, Study Says

The Midwest is a beautiful place to spend the summer months. If you're a snow enthusiast, the winter can be nice, too, but even those who hate cold temperatures have to admit that summer in Michigan is pretty perfect. I personally love hitting the beach during the summer months, whether it's a Lake Michigan beach or one of our great inland water options.

As it turns out, one Michigan city is one of the best in the Midwest to own vacation property. According to the crew at GoBankingRates.com, this Michigan town is picturesque and a great place to purchase property for investment purposes.

"The Midwest isn't often regarded as a vacation hotspot, even in terms of avid stateside travelers," the publication states in the study. "While coastal cities tend to get all the attention, there’s plenty to offer in what are often regarded as flyover states. Known for warm summers and snow-covered winters, you’ll find plenty of year-round activities worth planning a trip for."

They add, "Of course, with Midwest real estate prices that generally skew lower than average, owning a vacation property could prove to be a lucrative endeavor. After all, lots of these tourist-friendly hotspots draw in travelers 12 months out of the year, so it can provide some great additional income when you're not taking time off. Here’s a look at eight of the overall best cities to invest in real estate in the Midwest."

The Michigan city that GoBankingRates.com highlights as one of the best in the Midwest to own vacation property is Traverse Bay. "Another Great Lakes coastal area, this one is in the far north of Michigan," they state. "The picturesque location offers everything from sandy beaches to snow-capped skiing in addition to all the usual lakefront activities you can imagine. It’s a collection of communities, including Harbor Springs, Petoskey and Charlevoix. Each offers its own unique charms and are located a few miles away from one another, giving potential buyers some options when looking for a vacation property." Find the full list of Midwest cities here.

With the housing market still red hot and no end in site, chances are if you're buying a home, you're going to have to pay more than you were expecting. If that's the case, then you're going to want to make sure to purchase a house in a county with low property taxes, or at least not the highest ones.

So, which Michigan counties have the highest average property taxes? To find out, the crew at HRBlock.com has put together an extensive list of every Michigan county with their average property taxes. There's a huge discrepancy, with the lowest taxes being $901 and the highest at $4,079.

If you're wondering what "Real Property Tax" is, HRBlock.com explains that, "Real property tax is a system of taxation that requires owners of land and buildings to pay an amount of money based on the value of their land and buildings." They add, "While the federal tax brackets are the same across the board (based on your filing status), state real property taxes are a different story. Any individual who owns real property in Michigan is subject to Michigan real property taxes."

As for who owes property taxes in Michigan, according to HRBlock.com, if you own real property in Michigan, you have to pay taxes on it. "Even if the real property was gifted to you through an estate or you own a rental real property, you are still required to pay it," they add. "There is no minimum or maximum amount to pay on your real property in Michigan to pay real property taxes." Read on for the full list of the 25 Michigan counties with the most expensive average property taxes. We've also included information on the county with the lowest average income taxes at the bottom of the list. Best of luck with your home-buying search.

This list is via H&R Block.

Median Annual Real property Tax Payment: $1,845
Average Effective Real property Tax Rate: 1.91%

https://www.gc4me.com/

Median Annual Real property Tax Payment: $1,819
Average Effective Real property Tax Rate: 1.51%

https://www.mijackson.org/

Median Annual Real property Tax Payment: $1,898
Average Effective Real property Tax Rate: 1.48%

https://www.isabellacounty.org/

Median Annual Real property Tax Payment: $1,975
Average Effective Real property Tax Rate: 1.32%

https://www.co.monroe.mi.us/

Median Annual Real property Tax Payment: $1,949
Average Effective Real property Tax Rate: 1.44%

https://www.stclaircounty.org/

Median Annual Real property Tax Payment: $1,946
Average Effective Real property Tax Rate: 1.14%

https://www.emmetcounty.org/

Median Annual Real property Tax Payment: $1,944
Average Effective Real property Tax Rate: 1.89%

https://www.calhouncountymi.gov/

Median Annual Real property Tax Payment: $1,934
Average Effective Real property Tax Rate: 1.57%

https://www.vanburencountymi.gov/

Median Annual Real property Tax Payment: $1,903
Average Effective Real property Tax Rate: 1.30%

https://www.barrycounty.org/

Median Annual Real property Tax Payment: $2,761
Average Effective Real property Tax Rate: 2.23%

https://www.ingham.org/

Median Annual Real property Tax Payment: $2,681
Average Effective Real property Tax Rate: 1.23%

https://www.livgov.com/

Median Annual Real property Tax Payment: $2,576
Average Effective Real property Tax Rate: 1.76%

https://www.kalamazoocity.org/

Median Annual Real property Tax Payment: $2,570
Average Effective Real property Tax Rate: 1.75%

https://www.macombgov.org/

Median Annual Real property Tax Payment: $2,521
Average Effective Real property Tax Rate: 1.53%

https://www.clinton-county.org/

Median Annual Real property Tax Payment: $2,411
Average Effective Real property Tax Rate: 1.69%

https://www.eatoncounty.org/

Median Annual Real property Tax Payment: $2,385
Average Effective Real property Tax Rate: 1.55%

https://www.accesskent.com/

Median Annual Real property Tax Payment: $2,359
Average Effective Real property Tax Rate: 2.55%

https://www.waynecounty.com/

Median Annual Real property Tax Payment: $2,364
Average Effective Real property Tax Rate: 1.41%

https://www.miottawa.org/

Median Annual Real property Tax Payment: $2,348
Average Effective Real property Tax Rate: 1.28%

https://www.gtcountymi.gov/

Median Annual Real property Tax Payment: $2,282
Average Effective Real property Tax Rate: 1.72%

https://www.co.midland.mi.us/

Median Annual Real property Tax Payment: $2,244
Average Effective Real property Tax Rate: 0.90%

https://www.leelanau.gov/

Median Annual Real property Tax Payment: $2,057
Average Effective Real property Tax Rate: 1.37%

https://www.allegancounty.org/

Median Annual Real property Tax Payment: $2,011
Average Effective Real property Tax Rate: 1.61%

https://www.lenawee.mi.us/

Median Annual Real property Tax Payment: $3,429
Average Effective Real property Tax Rate: 1.63%

https://www.oakgov.com/Pages/default.aspx

Median Annual Real property Tax Payment: $4,079
Average Effective Real property Tax Rate: 1.76%

https://www.washtenaw.org/

Median Annual Real property Tax Payment: $901
Average Effective Real property Tax Rate: 1.08%

https://oscoda.com/