Beulah, Michigan Property Taxes
The median property tax rate in Beulah, MI is 0.29%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Beulah at $277,300, the typical annual property tax bill amounts to $769, well below the national median of $2,690. Property taxes in Beulah are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Beulah's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Beulah 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
Beulah, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.29%
Estimate Property Tax Bill
$804
Ownwell’s Beulah Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beulah with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beulah 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 Beulah, Michigan
Property taxes in Beulah, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Beulah is 0.29%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Beulah set these rates annually, and they can vary significantly across different neighborhoods. Each year, Beulah 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 Beulah's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in Michigan is significantly higher, while the lowest median tax rate is much lower. Understanding how these cities compare with Beulah provides valuable insights into the varying tax landscape across Benzie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beulah Tax Rate
0.29%
Average Benzie County Tax Rate
0.34%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beulah, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49617 | 0.19% | 0.24% | 0.29% | 0.36% | 0.43% |
Source: Ownwell
Property Tax Assessment Values Across Beulah, Michigan
In Beulah, 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 Benzie 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 Beulah, 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. For instance, the median home price in Beulah is $277,300, with tax bills ranging from $460 at the 25th percentile to $2,327 at the 90th percentile. The zip code 49617 has both the highest and lowest median tax bill at $769. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Beulah Assessed Value
$277,300
Average Benzie County Assessed Value
$250,400
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beulah, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49617 | $103,420 | $177,900 | $277,300 | $441,750 | $749,400 |
Source: Ownwell
Property Tax Bills Across Beulah, Michigan
In Beulah, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the Benzie County tax assessor. The assessed value is typically a percentage of the market value of the property. Homeowners in Beulah can expect a wide range of property tax bills depending on the value of their homes. For example, the 25th percentile tax bill is $460, while the 75th percentile tax bill is $1344. At the higher end, the 90th percentile tax bill can reach up to $2327. Compared to the national median property tax rate of 0.99%, Beulah's property tax rates can be quite variable, impacting homeowners differently based on their property values. Factors such as improvements to the property, changes in market conditions, and local tax rates all influence the final tax bill. Homeowners should be aware of these variables as they can significantly affect annual property tax expenses, potentially making homeownership more costly or affordable depending on individual circumstances.
Average Beulah Tax Bill
$769
Average Benzie County Tax Bill
$868
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Beulah, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49617 | $271 | $460 | $769 | $1,344 | $2,327 |
Source: Ownwell