Elberta, Benzie County, Michigan Property Taxes
Median Elberta, MI effective property tax rate: 0.61%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Elberta, MI home value: $129,000
Median annual Elberta, MI tax bill: $563, $1,837 lower than the national median property tax bill of $2,400.
How are property taxes in Benzie calculated?
Property taxes in Elberta, MI are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Elberta’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Elberta, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Elberta, Benzie County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.59%
Estimate Property Tax Bill
$844
$783
Property Tax Rates Across Elberta, Benzie County, Michigan
Local government entities are responsible for setting property tax rates, which can differ significantly within a state. This variation occurs because each county annually estimates its budget needs to provide essential services and then divides that by the total value of all taxable property within its jurisdiction. This calculation yields the property tax rate. While votes and laws play a role in determining tax rates and budgets, this is the core of the annual process.
For a clearer understanding, let's look at Elberta’s effective property tax rate compared to other cities in Michigan and the median property tax rates in Michigan and the U.S. Elberta, located in Benzie County, has a median property tax rate of 0.61%. This is significantly lower than the national median property tax rate of 1.02%. The uniformity in Elberta’s rates is notable, as both the highest and lowest median tax rates in the area are the same. This makes Elberta an attractive location for homeowners seeking lower property tax burdens.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Elberta Tax Rate
0.59%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Benzie County Tax Rate
0.30%
Median Effective Michigan Tax Rate
1.05%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Elberta, Benzie County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49628 | 0.20% | 0.30% | 0.59% | 1.17% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Elberta, Benzie County, Michigan
When examining property taxes in Elberta, MI, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Benzie County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Benzie County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Elberta.
For example, the median home price in Elberta is $129,000, with tax bills ranging significantly across the county. Zip code 49628 has the highest median home price at $129,000.
Property Tax Assessment Values Across Elberta, Benzie County, Michigan
Source: Ownwell
$143,000
$295,300
$447,600
Median Elberta Market Value
$143,000
Median Benzie County Market Value
$304,000
Median Michigan Market Value
$213,740
Median United States Market Value
$235,294
Property Tax Assessment Values Across Elberta, Benzie County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49628 | $16,480 | $88,600 | $143,000 | $196,600 | $257,000 |
Source: Ownwell
Property Tax Bills Across Elberta, Benzie County, Michigan
Median Elberta Tax Bill
$593
Median Benzie County Tax Bill
$935
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across Elberta, Benzie County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49628 | $177 | $276 | $593 | $1,178 | $2,285 |
Source: Ownwell