Charlevoix, Michigan Property Taxes
The median property tax rate in Charlevoix, MI is 0.48%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $239,100 in Charlevoix, the typical annual property tax bill is around $1,198, which is well below the national median of $2,690. Property taxes in Charlevoix are calculated based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Charlevoix's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Charlevoix or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Charlevoix, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$1,148
Ownwell’s CHARLEVOIX Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CHARLEVOIX with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CHARLEVOIX to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Charlevoix, Michigan
Property taxes in Charlevoix, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Charlevoix is 0.48%, which is lower than the U.S. national median of 0.99%. Local government entities within Charlevoix set these rates annually, and they can vary significantly across different neighborhoods. Each year, Charlevoix estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Charlevoix's effective property tax rate to other counties in Michigan and the national median. For comparison, the zip code 49720 has both the highest and lowest median property tax rate of 0.48%. Understanding how these areas compare with Charlevoix provides valuable insights into the varying tax landscape across Antrim County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Charlevoix Tax Rate
0.48%
Average Antrim County Tax Rate
0.72%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Charlevoix, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49720 | 0.34% | 0.39% | 0.48% | 0.57% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Charlevoix, Michigan
In CHARLEVOIX, Michigan, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the county appraisal district for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In CHARLEVOIX, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in CHARLEVOIX helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in CHARLEVOIX, zip code 49720, is $1198, which is significantly lower than the national median property tax rate of 0.99%.
Average Charlevoix Assessed Value
$239,100
Average Antrim County Assessed Value
$211,000
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Charlevoix, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49720 | $83,580 | $135,250 | $239,100 | $400,300 | $614,020 |
Source: Ownwell
Property Tax Bills Across Charlevoix, Michigan
In Charlevoix, property tax bills are calculated based on the assessed value of your home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of your property. Various factors such as property size, location, and improvements contribute to this assessment. Charlevoix homeowners typically experience a range of property tax bills. For example, the 25th percentile tax bill is around $664, while the 75th percentile reaches up to $2,163. At the higher end, the 90th percentile tax bill can be as much as $4,248. The median home price in Charlevoix is approximately $239,100, which influences the overall tax obligation. Comparatively, Charlevoix's median property tax bill of $1,198 falls below the national median property tax rate of 0.99%. This relatively lower tax burden can make homeownership more affordable for residents. Understanding these factors can help homeowners anticipate their annual tax responsibilities and plan accordingly.
Average Charlevoix Tax Bill
$1,198
Average Antrim County Tax Bill
$1,488
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Charlevoix, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49720 | $393 | $664 | $1,198 | $2,163 | $4,248 |
Source: Ownwell