Frankfort, Benzie County, Michigan Property Taxes

Name: Property Tax Bills Across Frankfort, Benzie County, Michigan
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median FRANKFORT, MI effective property tax rate: 0.87%, significantly lower than the national median of 1.02%, but lower than the MI state median of 1.07%.
Median FRANKFORT, MI home value: $322,000
Median annual FRANKFORT, MI tax bill: $2,631, $231 higher than the national median property tax bill of $2,400.

How are property taxes in Benzie calculated?

Property taxes in FRANKFORT, MI are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding FRANKFORT’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in FRANKFORT, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Frankfort, Benzie County, Michigan Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.87%

Estimate Property Tax Bill

$2,801

$2,600

Ownwell’s Frankfort Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Frankfort with just two data points. By entering your property's estimated assessed value, our calculator applies Frankfort’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Benzie County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Frankfort, Benzie County, Michigan

Local government entities are responsible for setting tax rates, and these can vary significantly within a state. This variation occurs because each county annually estimates the budget needed to provide services, which is then divided by the total value of all taxable property in the area. This process determines the property tax rate. While the setting of tax rates and budgets involves votes and laws, this is essentially the annual procedure.

In Frankfort, located in Benzie County, Michigan, the effective property tax rate is 0.87%. This is below both the national median property tax rate of 1.02% and the national median property tax bill of $2,400. Frankfort's rate is consistent across the county, as Benzie County has the same highest and lowest median tax rate of 0.87%. This consistency offers a stable tax environment for property owners in the area. Compared to other cities in Michigan, Frankfort's tax rate provides a competitive advantage, offering potential savings for homeowners. This makes Frankfort an appealing option for those looking to manage their property tax expenses effectively.

Property Tax Rates Across Frankfort, Benzie County, Michigan

Source: Ownwell

0.29%

0.58%

0.87%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Frankfort Tax Rate

0.87%

Median Effective Benzie County Tax Rate

0.34%

Median Effective Michigan Tax Rate

1.07%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Frankfort, Benzie County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
49635	0.34%	0.49%	0.87%	1.32%	1.63%

Source: Ownwell

Property Tax Assessment Values Across Frankfort, Benzie County, Michigan

When examining property taxes in Frankfort, MI, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Benzie County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: In Benzie County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Frankfort. For example, the median home price in Frankfort is $322,000, with tax bills ranging significantly across the county. Zip code 49635 has the highest median home price at $322,000.

Property Tax Assessment Values Across Frankfort, Benzie County, Michigan

Source: Ownwell

$129,000

$286,500

$444,000

Median Frankfort Market Value

$322,000

Median Benzie County Market Value

$250,400

Median Michigan Market Value

$177,800

Median United States Market Value

$235,294

Property Tax Assessment Values Across Frankfort, Benzie County, Michigan

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
49635	$119,820	$194,600	$322,000	$578,300	$1,010,780

Source: Ownwell

Property Tax Bills Across Frankfort, Benzie County, Michigan

In Frankfort, Benzie County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in the area is $322,000, and property taxes are levied accordingly. The local tax rate is applied to the assessed value to determine the annual property tax bill. For homeowners in Frankfort, the tax bill can vary significantly, with the 25th percentile at $1,293 and the 90th percentile reaching $9,787. This variation highlights the importance of understanding how assessments impact tax obligations. Compared to the national median property tax rate of 1.02% and a median bill of $2,400, Frankfort's figures indicate a diverse range of tax burdens. Homeowners can benefit from appealing their property tax assessments to ensure they are fair and accurate. Ownwell provides expert services to help homeowners navigate this process, potentially reducing their tax bills by identifying discrepancies or qualifying for exemptions, thereby offering significant savings.

Property Tax Bills Across Frankfort, Benzie County, Michigan

Source: Ownwell

$535

$1,583

$2,631

Median Frankfort Tax Bill

$2,631

Median Benzie County Tax Bill

$868

Median Michigan Tax Bill

$1,795

Median United States Tax Bill

$2,400

Property Tax Bills Across Frankfort, Benzie County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
49635	$732	$1,293	$2,631	$5,540	$9,787

Source: Ownwell