Thompsonville, Benzie County, Michigan Property Taxes
Median THOMPSONVILLE, MI effective property tax rate: 0.33%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median THOMPSONVILLE, MI home value: $160,000
Median annual THOMPSONVILLE, MI tax bill: $588, $1,812 lower than the national median property tax bill of $2,400.
How are property taxes in Benzie calculated?
Property taxes in THOMPSONVILLE, 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 THOMPSONVILLE’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in THOMPSONVILLE, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Thompsonville, Benzie County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.29%
Estimate Property Tax Bill
$570
$529
Property Tax Rates Across Thompsonville, Benzie County, Michigan
Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
In Thompsonville, located in Benzie County, Michigan, the property tax rate is notably lower than both the state and national medians. Michigan's median property tax rate is below the national average, making it an attractive option for property owners looking to minimize their tax burden. This lower rate can be particularly appealing in a state where property taxes can vary significantly from one area to another.
Below, you can compare Thompsonville’s effective property tax rate to other cities in Michigan and the median property tax rates in Michigan and the U.S. Understanding these differences can help property owners make informed decisions about where to invest or settle, taking into account the potential savings on property taxes in Michigan compared to other states.
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 Thompsonville Tax Rate
0.29%
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 Thompsonville, Benzie County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49683 | 0.20% | 0.25% | 0.29% | 0.35% | 0.42% |
Source: Ownwell
Property Tax Assessment Values Across Thompsonville, Benzie County, Michigan
When examining property taxes in Thompsonville, 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 Thompsonville. For example, the median home price in Thompsonville is $160,000, with tax bills ranging significantly across the county. 49683 has the highest median home price at $160,000.
Property Tax Assessment Values Across Thompsonville, Benzie County, Michigan
Source: Ownwell
$143,000
$295,300
$447,600
Median Thompsonville Market Value
$196,400
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 Thompsonville, Benzie County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49683 | $86,040 | $131,800 | $196,400 | $347,750 | $545,920 |
Source: Ownwell
Property Tax Bills Across Thompsonville, Benzie County, Michigan
In Thompsonville, Benzie County, MI, property tax bills are determined based on the assessed value of a home, which reflects a percentage of its market value. Homeowners in this region experience a range of property tax bills, with amounts varying significantly. For instance, the tax bill at the 25th percentile is $339, while at the 75th percentile, it rises to $943, and at the 90th percentile, it reaches $1,650. The median tax bill in the area is $588, which is significantly lower than the national median property tax bill of $2,400. These variations can impact homeowners' annual financial planning and budgeting.
Ownwell assists homeowners by offering property tax appeal services, potentially reducing their tax burden. By evaluating the assessed value of the property and comparing it to market trends, Ownwell can identify opportunities for tax savings. With expertise in navigating the appeal process, Ownwell helps ensure that homeowners in Thompsonville pay only their fair share, optimizing their property tax bills and contributing to overall financial well-being.
Median Thompsonville Tax Bill
$623
Median Benzie County Tax Bill
$935
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across Thompsonville, Benzie County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49683 | $174 | $364 | $623 | $1,011 | $1,770 |
Source: Ownwell