Boyne Falls, Emmet County, Michigan Property Taxes
The median property tax rate in Boyne Falls, MI is 0.83%, which is lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Boyne Falls at $272,800, the typical annual property tax bill amounts to $2,259, falling below the national median of $2,690. Property taxes in Boyne Falls are calculated based on the 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 significant annual savings. Whether you're in the heart of Boyne Falls 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
Boyne Falls, Emmet County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$2,264
$2,101
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, Emmet County, Michigan
Property taxes in Boyne Falls, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Boyne Falls is 0.83%, lower than both the Michigan state median 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 49713 zip code has both the highest and lowest median property tax rate of 0.83%. Understanding how these cities compare with Boyne Falls provides valuable insights into the varying tax landscape across Emmet County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Boyne Falls Tax Rate
0.83%
Average Emmet County Tax Rate
0.97%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Boyne Falls, Emmet County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49713 | 0.70% | 0.74% | 0.83% | 1.02% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Boyne Falls, Emmet County, 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 Emmet 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. 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. The zip code 49713 has the highest and lowest median tax bill, both at $2259.
Property Tax Assessment Values Across Boyne Falls, Emmet County, Michigan
Source: Ownwell
$135,400
$240,100
$344,800
Average Boyne Falls Assessed Value
$272,800
Average Emmet County Assessed Value
$259,800
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Boyne Falls, Emmet County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49713 | $117,260 | $194,500 | $272,800 | $354,700 | $493,860 |
Source: Ownwell
Property Tax Bills Across Boyne Falls, Emmet County, Michigan
In Boyne Falls, situated in Emmet County, MI, property tax bills are determined by assessing the property's market value and applying the local tax rate. Homeowners in this region see a median home price of $272,800. The assessed value is typically a percentage of this market value, which is then multiplied by the local tax rate to calculate the tax bill. For instance, residents in Boyne Falls experience tax bills ranging from $1,497 at the 25th percentile to $4,568 at the 90th percentile, with the highest median tax bill recorded at $2,259 in the 49713 zip code. Factors influencing the tax bill include property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Boyne Falls' tax rates can significantly affect homeowners' financial planning. Understanding these factors is crucial for homeowners to anticipate their annual tax obligations and manage their budgets effectively.
Average Boyne Falls Tax Bill
$2,259
Average Emmet County Tax Bill
$2,560
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Boyne Falls, Emmet County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49713 | $994 | $1,497 | $2,259 | $3,515 | $4,568 |
Source: Ownwell