Maple City, Michigan Property Taxes
The median property tax rate in Maple City, MI is 0.31%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Maple City at $362,700, the typical annual property tax bill is $1,176, well below the national median of $2,690. Property taxes in Maple City 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 Maple City'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 Maple City or another part of Leelanau County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Maple City, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.31%
Estimate Property Tax Bill
$1,124
Ownwell’s Maple City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Maple City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Maple City 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 Maple City, Michigan
Property taxes in Maple City, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Maple City is 0.31%, significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Maple City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Maple City 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. Understanding how these cities compare with Maple City provides valuable insights into the varying tax landscape across Leelanau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Maple City Tax Rate
0.31%
Average Leelanau County Tax Rate
0.48%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Maple City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49664 | 0.19% | 0.25% | 0.31% | 0.39% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Maple City, Michigan
In Maple City, 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 Leelanau 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 Maple City, 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. In Maple City, the median home price is $362,700, with tax bills ranging from $668 at the 25th percentile to $4,417 at the 90th percentile. The highest and lowest median tax bills both occur in zip code 49664, at $1,176. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Maple City Assessed Value
$362,700
Average Leelanau County Assessed Value
$389,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Maple City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49664 | $135,600 | $221,900 | $362,700 | $627,050 | $1,332,600 |
Source: Ownwell
Property Tax Bills Across Maple City, Michigan
In Maple City, MI, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including property size, location, and market conditions. For homeowners in Maple City, the median home price stands at $362,700. Property tax bills can vary significantly. For example, the tax bill at the 25th percentile is $668, while at the 75th percentile, it rises to $2,306. Those at the 90th percentile see tax bills as high as $4,417. The highest and lowest median tax bills in the region are both $1,176, indicating some consistency within certain areas of Leelanau County. Comparatively, the national median property tax rate is 0.99%, making it crucial for homeowners to understand how local rates and assessed values impact their financial obligations. This knowledge helps them better anticipate annual expenses and budget accordingly.
Average Maple City Tax Bill
$1,176
Average Leelanau County Tax Bill
$1,958
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Maple City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49664 | $396 | $668 | $1,176 | $2,306 | $4,417 |
Source: Ownwell