Buckley, Michigan Property Taxes
The median property tax rate in Buckley, MI is 0.37%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With a median home value of $206,649 in Buckley, the typical annual property tax bill amounts to $731, well below the national median of $2,690. Property taxes in Buckley are based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural land. Understanding Buckley's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Buckley or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Buckley, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.37%
Estimate Property Tax Bill
$765
$710
Ownwell’s Buckley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Buckley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Buckley 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 Buckley, Michigan
Property taxes in Buckley, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Buckley is 0.37%, which is lower than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Buckley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Buckley 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 Buckley's 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 the zip code 48009 with a rate of 1.51%, while the lowest median tax rate is in the zip code 49684 at 0.32%. Understanding how these cities compare with Buckley provides valuable insights into the varying tax landscape across Grand Traverse County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Buckley Tax Rate
0.37%
Average Grand Traverse County Tax Rate
0.70%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buckley, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49620 | 0.25% | 0.32% | 0.37% | 0.45% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Buckley, Michigan
In Buckley, 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 Grand Traverse 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 Buckley, 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 Buckley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Buckley is $206,649, with tax bills ranging from $438 at the 25th percentile to $1566 at the 90th percentile. The highest and lowest median tax bills are both $731 in the 49620 zip code.
Average Buckley Assessed Value
$206,649
Average Grand Traverse County Assessed Value
$287,584
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buckley, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49620 | $64,964 | $122,417 | $206,649 | $293,001 | $402,450 |
Source: Ownwell
Property Tax Bills Across Buckley, Michigan
In Buckley, located in Grand Traverse County, MI, property tax bills are calculated based on the assessed value of the home, which is determined by the local assessor. The assessed value typically represents 50% of the property's market value. Homeowners in Buckley can expect their tax bills to vary significantly, with the 25th percentile tax bill at $438 and the 75th percentile tax bill at $1,105. The 90th percentile tax bill reaches up to $1,566, indicating higher property values or additional assessments. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Buckley's property tax rates can be relatively moderate, though they can still impact household budgets considerably. Understanding these factors is crucial for homeowners to anticipate and manage their annual property tax expenses effectively.
Average Buckley Tax Bill
$731
Average Grand Traverse County Tax Bill
$2,154
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Buckley, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49620 | $219 | $438 | $731 | $1,105 | $1,566 |
Source: Ownwell