Oakley, Shiawassee County, Michigan Property Taxes
Median Oakley, MI effective property tax rate: 1.21%, significantly higher than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Oakley, MI home value: $120,400
Median annual Oakley, MI tax bill: $1,446, $954 lower than the national median property tax bill of $2,400.
How are property taxes in Shiawassee calculated?
Property taxes in Oakley, 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 Oakley’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Oakley, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Oakley, Shiawassee County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.21%
Estimate Property Tax Bill
$1,457
$1,352
Ownwell’s Oakley Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Oakley with just two data points. By entering your property's estimated assessed value, our calculator applies Oakley’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your 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 Shiawassee County. For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Oakley, Shiawassee County, Michigan
Local government entities are responsible for setting tax rates, which can vary significantly within a state. This variation occurs because every year, each county estimates its required budget to fund services and divides that by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is the essential annual process.
In Oakley, located in Shiawassee County, the effective property tax rate is a point of comparison to other cities within Michigan and across the United States. Michigan's median property tax rate is 1.21%, which is above the national median of 1.02%. This means that property owners in Michigan, including those in Oakley, generally face higher property tax rates than the national average. Understanding how Oakley’s rates compare can help property owners make informed decisions about property tax appeals and exemptions. By exploring these differences, property owners can better navigate the complexities of property taxes and potentially save money.
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 Oakley Tax Rate
1.21%
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 Shiawassee County Tax Rate
1.23%
Median Effective Michigan Tax Rate
1.07%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Oakley, Shiawassee County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48649 | 1.00% | 1.14% | 1.21% | 1.24% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Oakley, Shiawassee County, Michigan
When examining property taxes in Oakley, 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 Shiawassee 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 Shiawassee County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Oakley.
For example, the median home price in Oakley is $120,400, with tax bills ranging significantly across the county. The zip code 48649 has the highest median home price at $120,400.
Property Tax Assessment Values Across Oakley, Shiawassee County, Michigan
Source: Ownwell
$120,400
$173,850
$227,300
Median Oakley Market Value
$120,400
Median Shiawassee County Market Value
$142,800
Median Michigan Market Value
$177,800
Median United States Market Value
$235,294
Property Tax Assessment Values Across Oakley, Shiawassee County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48649 | $94,760 | $102,000 | $120,400 | $176,800 | $183,040 |
Source: Ownwell
Property Tax Bills Across Oakley, Shiawassee County, Michigan
In Oakley, Shiawassee County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is a percentage of the market value of the property. Homeowners in Oakley typically see property tax bills ranging from $1,154 at the 25th percentile to $2,287 at the 90th percentile. The median property tax bill in the area is $1,446, which is below the national median of $2,400. Factors influencing the tax bill include the home's assessed value and the local tax rate. These taxes fund essential services like schools, infrastructure, and public safety, directly impacting homeowners and the community.
Ownwell offers a valuable service to help homeowners in Oakley potentially reduce their property tax bills. By providing expert property tax appeal and exemption services, Ownwell can assist in ensuring that homeowners are not overpaying. With a comprehensive understanding of local tax laws and assessment practices, Ownwell can guide homeowners through the appeal process, helping them achieve significant savings on their property taxes.
Median Oakley Tax Bill
$1,446
Median Shiawassee County Tax Bill
$1,816
Median Michigan Tax Bill
$1,795
Median United States Tax Bill
$2,400
Property Tax Bills Across Oakley, Shiawassee County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48649 | $1,064 | $1,154 | $1,446 | $1,660 | $2,287 |
Source: Ownwell