Walled Lake, Oakland County, Michigan Property Taxes

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

Median Walled Lake, 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 Walled Lake, MI home value: $205,380
Median annual Walled Lake, MI tax bill: $2,821, $421 higher than the national median property tax bill of $2,400.

How are property taxes in Oakland calculated?

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

Last Updated March 1, 2025

Walled Lake, Oakland County, Michigan Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.31%

Estimate Property Tax Bill

$2,690

$2,497

Ownwell’s Walled Lake Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Walled Lake with just two data points. By entering your property's estimated assessed value, our calculator applies Walled Lake’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 Walled Lake, Oakland County, Michigan

Local government entities determine property tax rates, leading to significant variations within a state. Each year, counties calculate their budgets to fund services and divide this by the total value of all taxable properties, resulting in the property tax rate. Although laws and votes influence these rates and budgets, this is the essence of the yearly process.

In Walled Lake, located in Oakland County, the effective property tax rate offers a unique perspective when compared to both other cities within Michigan and the national landscape. With Michigan's median tax rate at 1.31%, Walled Lake aligns closely with the state average. This is notably higher than the national median property tax rate of 1.02%, indicating that property owners in this region might experience a heavier tax burden compared to the national average.

Understanding these rates is crucial for property owners looking to manage their expenses effectively. By appealing or seeking exemptions, residents can potentially reduce their property tax bills, making it essential to stay informed about local tax trends and opportunities for savings.

Property Tax Rates Across Walled Lake, 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 Walled Lake Tax Rate

1.31%

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 Walled Lake, Oakland County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
48390	0.75%	0.98%	1.31%	1.65%	1.89%

Source: Ownwell

Property Tax Assessment Values Across Walled Lake, Oakland County, Michigan

When examining property taxes in Walled Lake, 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.

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 Walled Lake.

For example, the median home price in Walled Lake is $205,380, with tax bills ranging significantly across the county. Zip code 48390 has the highest median home price at $205,380.

Property Tax Assessment Values Across Walled Lake, Oakland County, Michigan

Source: Ownwell

$64,640

$675,030

$1,285,420

Median Walled Lake Market Value

$205,380

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 Walled Lake, Oakland County, Michigan

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
48390	$142,172	$165,680	$205,380	$268,300	$423,508

Source: Ownwell

Property Tax Bills Across Walled Lake, Oakland County, Michigan

In Walled Lake, Michigan, property tax bills are calculated based on the assessed value of a home, which is determined by the Oakland County assessor's office. The assessed value is typically about half of the market value of the property. The property tax rate in this area is applied to this assessed value to determine the annual tax bill. For instance, homeowners in Walled Lake might find their tax bills ranging from $2,001 at the 25th percentile to $5,710 at the 90th percentile. The median property tax bill in the area is $2,821, slightly above the national median of $2,400. This can significantly impact homeowners, especially when the assessed value increases or when local tax rates rise, leading to higher bills. Ownwell offers expertise in property tax appeals and exemption services, helping homeowners reduce their tax liabilities. By reviewing assessments and identifying potential savings, Ownwell can assist homeowners in ensuring they pay only their fair share, potentially lowering their property tax bills.

Property Tax Bills Across Walled Lake, Oakland County, Michigan

Source: Ownwell

$936

$8,192

$15,447

Median Walled Lake Tax Bill

$2,821

Median Oakland County Tax Bill

$3,833

Median Michigan Tax Bill

$1,795

Median United States Tax Bill

$2,400

Property Tax Bills Across Walled Lake, Oakland County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
48390	$1,263	$2,001	$2,821	$3,935	$5,710

Source: Ownwell