Oakland Township, Oakland County, Michigan Property Taxes

Local government entities set tax rates, which can vary widely within a state. Annually, 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. Below, you can compare Oakland Township’s effective property tax rate to other cities in Michigan and the median property tax rates in Michigan and the U.S.

In Oakland Township, located in Oakland County, the effective property tax rate stands at 1.04%. This rate aligns with the highest and lowest median tax rates within the area, both recorded at 1.04% in the 48306 zip code. Comparatively, this rate is slightly above the national median property tax rate of 1.02%. When considering the national median property tax bill of $2400, homeowners in Oakland Township might find their tax bills slightly higher, reflecting the region's specific tax rate and property values. Understanding these rates can empower homeowners to make informed decisions about property taxes and appeals.

In Oakland Township, MI, property tax bills are determined based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the tax bill. Factors such as property size, location, and improvements can influence the assessed value, thus affecting the tax bill. The median property tax bill in Oakland County is significantly higher than the national median, with residents often paying around $5,372 annually. This can pose a financial burden on homeowners, especially when compared to the national median property tax bill of $2,400.

Ownwell offers a valuable service by helping homeowners appeal their property tax assessments and identify potential exemptions. By leveraging our expertise, homeowners can ensure their property is fairly assessed, potentially reducing their tax bill. This service not only helps in lowering expenses but also provides peace of mind, knowing that their tax liabilities are being managed effectively.