Kingsley, Michigan Property Taxes
The median property tax rate in Kingsley, MI is 0.37%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Kingsley at $218,162, the typical annual property tax bill is $810, well below the national median of $2,690. Property taxes in Kingsley 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 Kingsley'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 Kingsley 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
Kingsley, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.37%
Estimate Property Tax Bill
$807
Ownwell’s Kingsley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kingsley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kingsley 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 Kingsley, Michigan
Property taxes in Kingsley, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kingsley is 0.37%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Kingsley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kingsley 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 Kingsley'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 found in a different region, while another area has the lowest median tax rate. Understanding how these cities compare with Kingsley provides valuable insights into the varying tax landscape across Grand Traverse County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kingsley Tax Rate
0.37%
Average Grand Traverse County Tax Rate
0.70%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kingsley, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49649 | 0.28% | 0.33% | 0.37% | 0.43% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Kingsley, Michigan
In Kingsley, 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 Grand Traverse 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 Kingsley, 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. Kingsley homeowners can expect median tax bills ranging from $539 at the 25th percentile to $1,584 at the 90th percentile. The highest and lowest median tax bills are both $810 in the 49649 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kingsley Assessed Value
$218,162
Average Grand Traverse County Assessed Value
$287,584
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kingsley, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49649 | $100,446 | $151,066 | $218,162 | $293,014 | $395,342 |
Source: Ownwell
Property Tax Bills Across Kingsley, Michigan
In Kingsley, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the market value of the property. For instance, with a median home price of $218,162, the assessed value would be a fraction of this amount, adjusted according to state regulations. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. For example, in Kingsley, the 25th percentile tax bill is $539, while the 75th percentile tax bill is $1150, and the 90th percentile tax bill reaches $1584. These variations reflect differences in property values and applicable tax rates within the area. Homeowners in Kingsley should be aware that their property taxes contribute to essential community services such as schools, infrastructure, and public safety, making it crucial to understand how their tax bills are determined and managed.
Average Kingsley Tax Bill
$810
Average Grand Traverse County Tax Bill
$2,154
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Kingsley, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49649 | $331 | $539 | $810 | $1,150 | $1,584 |
Source: Ownwell