Oakland County Property Tax Rates
The table below lists the Oakland County Property Tax rates per $100 of assessed value.
| Tax | Rate per $100 of Assessed Value |
|---|---|
| General Operating | $1.25 |
| Parks and Recreation | $0.25 |
| Community College | $0.35 |
| Zoo | $0.10 |
| Special Assessment | Varies |
It's important to note that the Special Assessment tax rate varies depending on the specific assessment. Residents can contact the Oakland County Treasurer's Office for more information on their individual property tax rates.
Example of Oakland County Property Tax Calculation
Oakland County Property Tax calculation is the process by which the amount of property tax owed by a property owner in Oakland County, Michigan is determined. The calculation is based on the value of the property and the applicable tax rate for the location of the property.
To determine the property's taxable value, the assessed value is multiplied by the state equalization factor. The assessed value is the value assigned to the property by the local assessor, while the state equalization factor is determined by the State of Michigan. The result is the property's taxable value, which is used to calculate the property tax owed.
Next, the taxable value is multiplied by the local millage rate to determine the amount of property tax owed. A millage rate is a tax rate expressed in mills, which represents one-tenth of one cent. For example, a millage rate of 50 would be equal to $0.05 per $1,000 of taxable value. The local millage rate varies depending on the jurisdiction and can include rates for school districts, municipalities, and other local entities.
Finally, any applicable tax credits or exemptions are subtracted from the property tax owed, resulting in the final amount due.
Overall, the Oakland County Property Tax calculation is a thorough process used to fairly determine the property tax owed by property owners in the county.
If you want appeal your property tax assessment - contact your local tax assessor.
Who sets property tax rates in Oakland County ?
Who sets property tax rates in Oakland County?
The property tax rates in Oakland County are set by several entities, as shown below:
| Entity | Role |
|---|---|
| Oakland County Board of Commissioners | Sets the millage rate for the county operating budget and debt service |
| Local city, village, and township governments | Set their own millage rates for their respective operating budgets |
| School districts | Set their own millage rates to fund their operations, as approved by voters |
When are property tax rates set in Oakland County?
Property tax rates are typically set in the summer or early fall each year, before the tax bills are sent out. The Oakland County Board of Commissioners usually sets the county's millage rate in July or August, while local governments and school districts set their rates in the late summer or early fall. Property owners receive their tax bills in December and have until February 14th of the following year to pay them.
Homestead exemptions in Oakland County ?
In Oakland County, Michigan, there are several Homestead exemptions and deductions that homeowners can take advantage of. Here is a breakdown of the available options:
| Exemption/Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| Principal Residence Exemption | Must be the primary residence | Exempts 18 mills of school operating taxes | Must file an affidavit with the local assessor |
| Senior Citizen Exemption | Must be at least 62 years old | Varies based on assessed value and income | Must meet income requirements |
| Veterans Exemption | Must be a veteran with a disability or surviving spouse | Varies based on assessed value and disability rating | Must have proof of disability |
| Poverty Exemption | Must have a household income at or below the poverty line | Varies based on assessed value | Must apply with the township/city |
It's important to note that while these exemptions and deductions can significantly lower property taxes, homeowners must meet certain eligibility requirements and file the appropriate paperwork. Homeowners should check with their local assessor's office for more information and guidance on how to apply for these exemptions and deductions.
When is Oakland County Property Tax due ?
Oakland County Property Tax is typically due on March 1st of each year. This tax must be paid in full by February 28th of the following year to avoid any penalties or interest charges.
There are several methods of payment available to taxpayers in Oakland County. These methods include:
| Payment Method | Description |
|---|---|
| Online | Taxpayers can pay their property taxes online through the Oakland County Treasurer's website using a credit/debit card or electronic check. |
| Taxpayers can mail their payment to the Oakland County Treasurer's Office. The address is listed on the tax bill. | |
| In Person | Taxpayers can pay their property taxes in person at the Oakland County Treasurer's Office or at any participating bank or credit union. |
It is important to note that partial payments are not accepted and that payments must be made in full. If a taxpayer is unable to pay their property taxes in full, they should contact the Oakland County Treasurer's Office to discuss payment options.
Overall, it is recommended that taxpayers pay their property taxes on time to avoid any additional charges or penalties.
If you have more questions - contact your local tax collector.
How is Oakland County Property Tax penalty calculated ?
Oakland County Property Tax Penalty Calculation
When a property owner fails to pay their property taxes on time in Oakland County, Michigan, they may be subject to penalty charges. The penalty charges are calculated based on the amount of unpaid taxes and the length of time they have been delinquent.
Penalty Calculation Table
| Time Elapsed | Penalty Percentage |
|---|---|
| 1-30 days | 1% |
| 31-60 days | 2% |
| 61-90 days | 3% |
| 91-120 days | 4% |
| 121-150 days | 5% |
| Over 151 days | 6% |
For example, let's say a property owner owes $5,000 in property taxes and fails to pay on time. After 60 days, they still have not paid their taxes. The penalty calculation would look like this:
- $5,000 x 2% = $100 penalty charge
This penalty charge would be added to the original $5,000 for a total amount due of $5,100. If the property owner continued to not pay their taxes, the penalty charge would continue to increase based on the table above.
It is important to note that property owners have the option to appeal penalty charges if they believe they were not properly assessed. Additionally, property owners can set up a payment plan with the Oakland County Treasurer's office to avoid penalty charges in the future.
We recommend contacting the Oakland County Tax Office or a local tax professional for the most up-to-date and accurate information.