Maple City, Michigan Property Taxes
The median property tax rate in Maple City, MI is 0.25%, considerably 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 $531,500, the typical annual property tax bill reaches $1,318, well below the national median of $2,690. Property taxes in Maple City are calculated based on the tax assessed value, which typically 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 Benzie 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
0.25%
Estimate Property Tax Bill
$1,329
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, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Maple City is 0.25%, significantly lower than both the Michigan state median of 1.54% 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. The data below compares Maple City's effective property tax rate to other counties in Michigan and the national median. For comparison, ZIP code 48201 has the highest median property tax rate of 2.08%, while ZIP code 49036 has the lowest median tax rate of 0.88%. Understanding how these cities compare with Maple City provides valuable insights into the varying tax landscape across Benzie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Maple City Tax Rate
0.25%
Average Benzie County Tax Rate
0.34%
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 | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
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 Benzie 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. Being aware of these valuation processes in Maple City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 49664 has both the highest and lowest median tax bills at $1,318, reflecting the uniformity in assessed values within the area.
Average Maple City Assessed Value
$531,500
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 Maple City, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49664 | $419,100 | $461,250 | $531,500 | $601,750 | $643,900 |
Source: Ownwell
Property Tax Bills Across Maple City, Michigan
In Maple City, located in Benzie 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 Maple City stands at $531,500, and the tax rate is applied to this assessed value to determine the annual tax bill. Factors such as local government budgets, school funding, and public services influence the tax rate. Homeowners in Maple City can expect a range of tax bills. At the 25th percentile, the tax bill is around $1,158, while at the 75th percentile, it rises to $1,479. The 90th percentile sees tax bills reaching approximately $1,575. Compared to the national median property tax rate of 0.99%, Maple City's rates reflect the specific needs and services of the local community. These tax bills significantly impact homeowners by contributing to essential public services, including education, emergency services, and infrastructure maintenance, thereby enhancing the overall quality of life in the area.
Average Maple City Tax Bill
$1,318
Average Benzie County Tax Bill
$868
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 | $1,062 | $1,158 | $1,318 | $1,479 | $1,575 |
Source: Ownwell