Empire, Michigan Property Taxes
The median property tax rate in Empire, MI is 0.32%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Empire being $398,900, the typical annual property tax bill amounts to $1,304, which is well below the national median of $2,690. Property taxes in Empire are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Empire'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 Empire or another part of Leelanau County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Empire, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.32%
Estimate Property Tax Bill
$1,276
$1,185
Ownwell’s EMPIRE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in EMPIRE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EMPIRE 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 Empire, Michigan
Property taxes in Empire, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Empire is 0.32%, which is lower than both the Michigan state median of 1.54% and the U.S. national median of 0.99%. Local government entities within Empire set these rates annually, and they can vary significantly across different neighborhoods. Each year, Empire 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 Empire's effective property tax rate to other counties in Michigan and the national median. For comparison, the 49621 zip code has the highest median property tax rate of 1.54%, while the 49630 zip code has the lowest median tax rate of 0.32%. Understanding how these cities compare with Empire provides valuable insights into the varying tax landscape across Leelanau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Empire Tax Rate
0.32%
Average Leelanau County Tax Rate
0.48%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Empire, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49630 | 0.20% | 0.26% | 0.32% | 0.38% | 0.44% |
Source: Ownwell
Property Tax Assessment Values Across Empire, Michigan
In Empire, 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 Leelanau 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 Empire, 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. For example, the median home price in Empire is $398,900, with annual tax bills ranging from $769 at the 25th percentile to $3,969 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 49630, with a median tax bill of $1,304. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Empire Assessed Value
$398,900
Average Leelanau County Assessed Value
$389,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Empire, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49630 | $141,900 | $257,350 | $398,900 | $726,950 | $1,282,300 |
Source: Ownwell
Property Tax Bills Across Empire, Michigan
Property tax bills in Empire, located in Leelanau County, MI, are calculated based on the assessed value of the property, which is determined by the local tax assessor. This assessed value is typically a percentage of the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. In Empire, the median home price stands at $398,900, which influences the overall tax burden for homeowners. Several factors are considered when determining the tax bill, including property size, location, and any improvements made to the property. For instance, the tax bill in the 25th percentile is $769, while in the 75th percentile, it reaches $2,264. The 90th percentile tax bill can go up to $3,969, reflecting the variation in property values and tax rates within the area. These property taxes significantly impact homeowners, affecting their annual expenses and the overall affordability of owning a home in Empire.
Average Empire Tax Bill
$1,304
Average Leelanau County Tax Bill
$1,958
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Empire, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49630 | $409 | $769 | $1,304 | $2,264 | $3,969 |
Source: Ownwell