South Lyon, Oakland County, Michigan Property Taxes

Name: Property Tax Bills Across South Lyon, Oakland County, Michigan
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median South Lyon, MI effective property tax rate: 1.35%, significantly higher than the national median of 1.02%, but lower than the Michigan state median of 1.07%. Median South Lyon, MI home value: $389,470. Median annual South Lyon, MI tax bill: $4,980, $2,580 higher than the national median property tax bill of $2,400.

How are property taxes in Oakland calculated?

Property taxes in South Lyon, 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 South Lyon’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in South Lyon, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

South Lyon, Oakland County, Michigan Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.35%

Estimate Property Tax Bill

$5,258

$4,879

Ownwell’s South Lyon Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in South Lyon with just two data points. By entering your property's estimated assessed value, our calculator applies South Lyon’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by Oakland County — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Oakland County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across South Lyon, Oakland County, Michigan

Local government entities set tax rates, which can vary widely within a state. This is because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws are involved in setting tax rates and budgets, in a nutshell, this is the annual process.

In South Lyon, located in Oakland County, Michigan, the effective property tax rate is 1.35%, which is notably higher than the national median of 1.02%. This rate is consistent across the area, as both the highest and lowest median tax rates in the region are the same, underscoring a uniform approach to property taxation in this locale.

Comparatively, Michigan's overall median property tax rate is also 1.35%, aligning South Lyon with the state average. For residents, understanding these rates is crucial for financial planning and evaluating the overall cost of property ownership. By staying informed, property owners can better navigate the nuances of property tax obligations and explore potential avenues for appealing or reducing their taxes.

Property Tax Rates Across South Lyon, Oakland County, Michigan

Source: Ownwell

0.91%

1.60%

2.28%

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 South Lyon Tax Rate

1.35%

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 South Lyon, Oakland County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
48178	0.97%	1.15%	1.35%	1.54%	1.82%

Source: Ownwell

Property Tax Assessment Values Across South Lyon, Oakland County, Michigan

When examining property taxes in South Lyon, 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 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. Assessment notices: 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 South Lyon. For example, the median home price in South Lyon is $389,470, with tax bills ranging significantly across the county. 48178 has the highest median home price at $389,470.

Property Tax Assessment Values Across South Lyon, Oakland County, Michigan

Source: Ownwell

$64,640

$675,030

$1,285,420

Median South Lyon Market Value

$389,470

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 South Lyon, Oakland County, Michigan

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
48178	$171,556	$258,170	$389,470	$487,140	$570,704

Source: Ownwell

Property Tax Bills Across South Lyon, Oakland County, Michigan

In South Lyon, located in Oakland County, MI, property tax bills are determined by assessing the property's market value and applying the local tax rate. The assessed value is typically a percentage of the market value, influenced by factors such as location, size, and property condition. Homeowners in South Lyon face a median tax bill of $4,980, significantly higher than the national median of $2,400. This discrepancy highlights the impact of local tax rates on homeowners, potentially straining their finances. The tax bill can vary widely, with the 25th percentile at $3,305 and the 90th percentile reaching $8,398. Such variability underscores the importance of understanding and managing property taxes. Ownwell assists homeowners by identifying potential savings through property tax appeals and exemptions. By leveraging expert knowledge of local tax regulations, Ownwell can help ensure homeowners are not overpaying. This service can lead to substantial savings, providing financial relief and peace of mind to property owners in South Lyon.

Property Tax Bills Across South Lyon, Oakland County, Michigan

Source: Ownwell

$936

$8,192

$15,447

Median South Lyon Tax Bill

$4,980

Median Oakland County Tax Bill

$3,833

Median Michigan Tax Bill

$1,795

Median United States Tax Bill

$2,400

Property Tax Bills Across South Lyon, Oakland County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
48178	$2,206	$3,305	$4,980	$6,803	$8,398

Source: Ownwell