Benzie County, Michigan Property Taxes
The median property tax rate in Benzie County is 0.34%, which is significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $250,400 in Benzie County, the typical annual property tax bill amounts to $868, far below the national median of $2,690. Property taxes in Benzie County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Benzie County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Beulah or another part of Benzie County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Benzie County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$851
$790
Ownwell’s Benzie County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Benzie County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Benzie County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Benzie County, Michigan
Property taxes in Benzie County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Benzie County is 0.34%, which is significantly lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Benzie County set these rates annually, and they can vary significantly between different areas within the county. Each year, Benzie County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Frankfort has one of the higher property tax rates in Michigan at 0.87%, while the city of Arcadia boasts one of the lowest at 0.48%. Analyzing how Benzie County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Benzie County Tax Rate
0.34%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Benzie County, Michigan
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arcadia | 0.27% | 0.37% | 0.48% | 0.77% | 1.15% |
| Benzonia | 0.20% | 0.24% | 0.29% | 0.35% | 0.42% |
| Beulah | 0.19% | 0.24% | 0.29% | 0.36% | 0.43% |
| Elberta | 0.21% | 0.32% | 0.61% | 1.16% | 1.54% |
| Empire | 0.18% | 0.27% | 0.31% | 0.39% | 0.44% |
| Frankfort | 0.34% | 0.49% | 0.87% | 1.32% | 1.63% |
| Honor | 0.20% | 0.25% | 0.31% | 0.37% | 0.44% |
| Interlochen | 0.23% | 0.27% | 0.30% | 0.37% | 0.42% |
| Lake Ann | 0.23% | 0.26% | 0.29% | 0.36% | 0.42% |
| Maple City | N/A | N/A | N/A | N/A | N/A |
| Thompsonville | 0.19% | 0.27% | 0.33% | 0.41% | 0.46% |
| Traverse City | 0.21% | 0.26% | 0.30% | 0.36% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Benzie County, Michigan
In Benzie County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Benzie County Appraisal District. The assessed value, however, 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. Assessment notices in Benzie County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Benzie County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Benzie County, Frankfort has the highest median tax bill at $2,631, while Benzonia has the lowest at $535.
Property Tax Assessment Values Across Benzie County, Michigan
Source: Ownwell
$129,000
$286,500
$444,000
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 Benzie County, Michigan
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arcadia | $121,800 | $194,800 | $299,600 | $514,800 | $678,400 |
| Benzonia | $81,980 | $123,050 | $186,200 | $276,400 | $378,000 |
| Beulah | $103,420 | $177,900 | $277,300 | $441,750 | $749,400 |
| Elberta | $15,520 | $78,400 | $129,000 | $181,800 | $237,400 |
| Empire | $152,960 | $226,600 | $444,000 | $664,200 | $903,000 |
| Frankfort | $119,820 | $194,600 | $322,000 | $578,300 | $1,010,780 |
| Honor | $98,000 | $152,050 | $241,500 | $413,500 | $634,400 |
| Interlochen | $87,360 | $145,700 | $225,000 | $305,000 | $386,440 |
| Lake Ann | $140,560 | $196,800 | $262,600 | $361,400 | $528,600 |
| Maple City | N/A | N/A | N/A | N/A | N/A |
| Thompsonville | $71,600 | $114,100 | $160,000 | $293,500 | $453,320 |
| Traverse City | $138,900 | $208,050 | $271,500 | $328,000 | $423,700 |
Source: Ownwell
Property Tax Bills Across Benzie County, Michigan
In Benzie County, MI, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. Homeowners in Benzie County can expect their property tax bills to vary significantly depending on the assessed value of their homes and the local tax rate. For instance, the median home price in the county is $250,400, and property tax bills can range from $506 at the 25th percentile to $3,907 at the 90th percentile. Factors influencing these bills include the property's location within the county, as different cities may have varying tax rates. For example, Frankfort has the highest median tax bill at $2,631, while Benzonia has the lowest at $535. Compared to the national median property tax rate of 0.99%, Benzie County's rates can result in a wide range of tax bills for homeowners. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Benzie County Tax Bill
$868
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Benzie County, Michigan
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arcadia | $509 | $763 | $1,537 | $3,224 | $4,559 |
| Benzonia | $195 | $332 | $535 | $841 | $1,230 |
| Beulah | $271 | $460 | $769 | $1,344 | $2,327 |
| Elberta | $168 | $263 | $563 | $1,109 | $2,070 |
| Empire | $331 | $598 | $1,313 | $2,177 | $3,070 |
| Frankfort | $732 | $1,293 | $2,631 | $5,540 | $9,787 |
| Honor | $261 | $442 | $742 | $1,280 | $2,137 |
| Interlochen | $224 | $437 | $674 | $993 | $1,351 |
| Lake Ann | $402 | $561 | $812 | $1,136 | $1,613 |
| Maple City | N/A | N/A | N/A | N/A | N/A |
| Thompsonville | $163 | $339 | $588 | $943 | $1,650 |
| Traverse City | $331 | $554 | $802 | $1,032 | $1,435 |
Source: Ownwell