Ellsworth, Michigan Property Taxes
The median property tax rate in Ellsworth, MI is 0.61%, notably lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $173,200 in Ellsworth, the typical annual property tax bill amounts to $1,051, which is significantly below the national median of $2,690. Property taxes in Ellsworth are calculated based on the assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. By understanding Ellsworth's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're located in the center of Ellsworth or in another part of Charlevoix County, gaining insight into the local property tax structure will be beneficial.
Last Updated June 14, 2024
Ellsworth, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$1,057
Ownwell’s Ellsworth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ellsworth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ellsworth 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 Ellsworth, Michigan
Property taxes in Ellsworth, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ellsworth is 0.61%, which is lower than the U.S. national median of 0.99%. Local government entities within Ellsworth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ellsworth 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 Ellsworth's effective property tax rate to other areas in Michigan and the national median. For comparison, the zip code 49729 has both the highest and lowest median property tax rate of 0.61%, reflecting the uniformity within the region. Understanding how these areas compare with Ellsworth provides valuable insights into the varying tax landscape across Charlevoix County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ellsworth Tax Rate
0.61%
Average Charlevoix County Tax Rate
0.50%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ellsworth, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49729 | 0.34% | 0.41% | 0.61% | 1.08% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Ellsworth, Michigan
In Ellsworth, 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 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 Ellsworth, 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. The median home price in Ellsworth is $173,200, with tax bills ranging from $722 at the 25th percentile to $3014 at the 90th percentile. The highest and lowest median tax bills are both $1051 in the 49729 zip code. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ellsworth Assessed Value
$173,200
Average Charlevoix County Assessed Value
$226,100
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ellsworth, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49729 | $79,900 | $119,750 | $173,200 | $251,050 | $347,900 |
Source: Ownwell
Property Tax Bills Across Ellsworth, Michigan
In Ellsworth, located in Charlevoix County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Ellsworth is $173,200. Homeowners in this area see a range of property tax bills, with the 25th percentile at $722 and the 75th percentile at $1,846. The tax bill can reach as high as $3,014 for those in the 90th percentile. Several factors influence the property tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. The local tax rate in Ellsworth is influenced by county-level decisions and can vary year to year. This variability can significantly impact homeowners, with some facing higher tax bills despite owning homes of similar market value. Compared to the national median property tax rate of 0.99%, Ellsworth's tax rates can offer some relief or pose a burden depending on individual circumstances.
Average Ellsworth Tax Bill
$1,051
Average Charlevoix County Tax Bill
$1,211
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Ellsworth, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49729 | $479 | $722 | $1,051 | $1,846 | $3,014 |
Source: Ownwell