Orion, Michigan Property Taxes
The median property tax rate in Orion, MI is 1.10%, noticeably higher than both the national median of 0.99% and Michigan's state median of 1.07%. With the median home value in Orion at $394,260, the typical annual property tax bill reaches $4,516, surpassing the national median of $2,690. Property taxes in Orion are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Orion's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Orion or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Orion, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$4,337
Ownwell’s Orion Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Orion with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Orion to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Orion, Michigan
Property taxes in Orion, Michigan, are essential for funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Orion is 1.10%, which is higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities in Orion set these rates annually, and they can vary significantly across different neighborhoods. Each year, Orion estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Orion's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48359 zip code has both the highest and lowest median property tax rate of 1.10%. Understanding how these cities compare with Orion provides valuable insights into the varying tax landscape across Oakland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Orion Tax Rate
1.10%
Average Oakland County Tax Rate
1.37%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Orion, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48359 | 1.03% | 1.04% | 1.10% | 1.44% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Orion, Michigan
In Orion, Michigan, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Oakland County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Orion, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Orion helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, in the 48359 zip code, the median tax bill is $4,516. By being proactive, homeowners can ensure they are not overpaying on their property taxes.
Average Orion Assessed Value
$394,260
Average Oakland County Assessed Value
$273,320
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Orion, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48359 | $352,120 | $373,380 | $394,260 | $429,400 | $461,580 |
Source: Ownwell
Property Tax Bills Across Orion, Michigan
In Orion, located in Oakland County, MI, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Homeowners in this area face a median property tax rate that often results in significant annual tax bills. For instance, a home with the median price of $394,260 can expect to see tax bills ranging from $4,070 at the 25th percentile to $5,655 at the 75th percentile, with some reaching as high as $6,397 at the 90th percentile. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Homeowners must budget for these expenses to avoid financial strain, as the property tax rate in Orion exceeds the national median of 0.99%, making it a critical consideration for both current residents and potential buyers.
Average Orion Tax Bill
$4,516
Average Oakland County Tax Bill
$3,833
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Orion, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48359 | $3,778 | $4,070 | $4,516 | $5,655 | $6,397 |
Source: Ownwell