Franklin, Oakland County, Michigan Property Taxes
Median Franklin, MI effective property tax rate: 1.31%, significantly higher than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Franklin, MI home value: $661,850
Median annual Franklin, MI tax bill: $8,747, $6,347 higher than the national median property tax bill of $2,400.
How are property taxes in Oakland County calculated?
Property taxes in Franklin, 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 Franklin’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Franklin, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Franklin, Oakland County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.31%
Estimate Property Tax Bill
$8,670
$8,046
Property Tax Rates Across Franklin, Oakland County, Michigan
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 Franklin Tax Rate
1.31%
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 Oakland County Tax Rate
1.37%
Median Effective Michigan Tax Rate
1.07%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Franklin, Oakland County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48025 | 0.97% | 1.14% | 1.31% | 1.53% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Franklin, Oakland County, Michigan
When examining property taxes in Franklin, Michigan, 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 Oakland 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 Oakland 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 Franklin.
For example, the median home price in Franklin is $661,850, with tax bills ranging significantly across the county. Zip code 48025 has the highest median home price at $661,850.
Property Tax Assessment Values Across Franklin, Oakland County, Michigan
Source: Ownwell
$64,640
$675,030
$1,285,420
Median Franklin Market Value
$661,850
Median Oakland County Market Value
$273,320
Median Michigan Market Value
$177,800
Median United States Market Value
$235,294
Property Tax Assessment Values Across Franklin, Oakland County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48025 | $355,700 | $490,955 | $661,850 | $944,720 | $1,404,888 |
Source: Ownwell
Property Tax Bills Across Franklin, Oakland County, Michigan
In Franklin, MI, property tax bills are calculated based on the assessed value of a home, which is determined by the Oakland County Assessor. The assessed value is typically a percentage of the property's market value. Factors such as location, property size, and home improvements can influence this valuation. Homeowners in Franklin face a median property tax bill of $8,747, significantly higher than the national median of $2,400. This disparity highlights the financial impact on Franklin residents, making property tax a substantial part of homeownership costs.
Ownwell offers a solution by providing property tax appeal services. By analyzing your property's assessed value and comparing it with similar properties, Ownwell identifies potential discrepancies. If an appeal is warranted, Ownwell guides homeowners through the process, potentially lowering their tax bill. This service can be especially beneficial in Franklin, where tax bills range from $6,178 at the 25th percentile to $20,354 at the 90th percentile. By leveraging Ownwell's expertise, Franklin homeowners can ensure their property tax bills are fair and accurate.
Median Franklin Tax Bill
$8,747
Median Oakland County Tax Bill
$3,833
Median Michigan Tax Bill
$1,795
Median United States Tax Bill
$2,400
Property Tax Bills Across Franklin, Oakland County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48025 | $4,347 | $6,178 | $8,747 | $13,268 | $20,354 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates |
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Links | |
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| Oakland Tax Assessor | |
| Website | app.regrid.com |