Summer is flying by, and tourists are again strolling the streets of nearby towns. For many of them, summers in northern Michigan turn into four-season residence, and they decide to make any one of our beautiful towns their full-time home. There are many reasons to make that decision - from the year-round beauty and activities in the area, to the friendly community and unique restaurants, breweries, and boutiques that line our downtowns. I'll be introducing you to many of these in the coming weeks, but today I wanted to talk about a thrilling topic: taxes.
One of the more subtle reasons to move here full-time, but most relevant to your wallet, is the difference in tax rates for a home here being your primary residence. For example, in Harbor Springs City township the tax (mill) rate is nearly 40 for a non-Homestead vacation home, but only 25.9 for a home being used as your primary residence. This equates to thousands of dollars' difference in taxes each year. If you are interested in a property and want to estimate your yearly taxes, try this property tax estimator on Michigan.gov. While I admit, taxes are one of the less-romantic aspects of making your decision, keep them in mind when considering purchasing a home in the Little Traverse Bay area!