Boyne Falls, Michigan Property Taxes
The median property tax rate in Boyne Falls, MI is 0.38%, significantly lower than both the national median of 0.99% and Michigan's state median of 1.07%. With a median home value of $168,400 in Boyne Falls, the typical annual property tax bill is about $611, well below the national median of $2,690. Property taxes in Boyne Falls are calculated based on the tax-assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Boyne Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Boyne Falls or another part of Charlevoix County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Boyne Falls, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$640
Ownwell’s Boyne Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Boyne Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Boyne Falls 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 Boyne Falls, Michigan
Property taxes in Boyne Falls, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Boyne Falls is 0.38%, which is notably lower than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Boyne Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Boyne Falls 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 Boyne Falls' 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 Ingham County at 2.06%, while the lowest median tax rate is in Luce County at 0.88%. Understanding how these areas compare with Boyne Falls provides valuable insights into the varying tax landscape across Charlevoix County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Boyne Falls Tax Rate
0.38%
Average Charlevoix County Tax Rate
0.50%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Boyne Falls, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49713 | 0.24% | 0.30% | 0.38% | 0.53% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Boyne Falls, Michigan
In Boyne Falls, 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 Charlevoix 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 Boyne Falls, 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. The median home price in Boyne Falls is $168,400, with property tax bills ranging from $402 at the 25th percentile to $1,655 at the 90th percentile. 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 Boyne Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Boyne Falls Assessed Value
$168,400
Average Charlevoix County Assessed Value
$226,100
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Boyne Falls, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49713 | $71,400 | $105,000 | $168,400 | $276,650 | $505,700 |
Source: Ownwell
Property Tax Bills Across Boyne Falls, Michigan
In Boyne Falls, located in Charlevoix County, MI, property tax bills are calculated based on the assessed value of a home, which is typically half of its market value. For instance, with a median home price of $168,400, the assessed value would be around $84,200. The local tax rate is then applied to this assessed value to determine the tax bill. Factors such as property location, improvements, and any applicable exemptions can influence the final amount. Homeowners in Boyne Falls experience a range of property tax bills. At the 25th percentile, the tax bill is approximately $402, while those at the 75th percentile pay around $997. The 90th percentile sees tax bills reaching up to $1,655. Compared to the national median property tax rate of 0.99%, Boyne Falls offers a relatively affordable property tax environment, making it an attractive option for homeowners. Understanding how these factors interplay helps homeowners anticipate their annual property tax obligations and manage their finances more effectively.
Average Boyne Falls Tax Bill
$611
Average Charlevoix County Tax Bill
$1,211
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Boyne Falls, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49713 | $243 | $402 | $611 | $997 | $1,655 |
Source: Ownwell