49635 Property Tax Rate

Property owners in ZIP code 49635 (Frankfort, Michigan) pay a median of $2,705/year in property taxes on homes valued at $332,300. This translates to an effective tax rate of 0.81%, which is 33% below the Michigan state average of 1.22%.

The monthly property tax burden for a median-valued home in 49635 is approximately $225, which factors into escrow payments on mortgages. This ZIP code is located within Benzie County. This is $279 more than the Michigan average of $2,426/year.

Compared to similar ZIP codes in Michigan, 49635 has higher property taxes. ZIP codes with similar effective rates include 49050 (0.81%) and 49760 (0.81%).

In Frankfort, property taxes represent approximately 3.8% of the median household income of $71,875, providing context for the relative tax burden on homeowners in this area.

Michigan's Proposal A reassesses your property to market value at purchase, replacing the prior owner's capped annual increase arrangement. The Principle Residence Exemption (PRE) reduces school operating taxes for owner-occupied homes — submit your claim to the Benzie County Assessor by March 1 of the following year to capture the exemption. File your PRE application with the Benzie County Assessor within 30 days of closing to ensure the exemption takes effect on January 1.