Property Taxes

Assessments are estimated at 50% of the property's Market Value. However, property owners pay taxes based on the property's Taxable Value.

Taxable Value is the lesser of the Assessed Value (SEV) or the prior year's taxable value minus losses, increased by the lesser of 5% or the Consumer Price Index, plus additions. A transfer of ownership will change the taxable value to the assessed value in the year following the transfer of ownership.

The following is a simple demonstration of how taxes are calculated. There are two types of property tax levied in the State of Michigan, Homeowner's Principal Residence and Non-Principal Residence.

The formula for calculating taxes is:  Taxable Value x Millage

A sample calculation based on an approximate millage rate for a Principal Residence is illustrated below for your assistance in understanding how property tax bills are calculated.

Example: Assume the Taxable Value of your Principal Residence property is $100,000 and the millage rate is 32.7624. Your tax bill would be calculated as follows:

$100,000 x .0327624 = $3,276.24

Please remember the Assessing Department does not compute or collect property taxes. This example is only intended to provide a simple explanation of the process. For a more detailed explanation, you should contact the Treasurer's Office.

Property tax information may be obtained by visiting the Oakland County Property Gateway link below.