White Lake, Michigan Property Taxes
The median property tax rate in White Lake, MI is 1.22%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in White Lake at $310,950, the typical annual property tax bill reaches $3,885, exceeding the national median of $2,690. Property taxes in White Lake are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding White Lake'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 White Lake 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
White Lake, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$3,794
Ownwell’s White Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in White Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in White Lake 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 White Lake, Michigan
Property taxes in White Lake, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in White Lake is 1.22%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within White Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, White Lake 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 White Lake's effective property tax rate to other areas in Michigan and the national median. For comparison, the 48383 zip code has the highest median property tax rate of 1.24%, while the 48386 zip code has the lowest median tax rate of 1.20%. Understanding how these areas compare with White Lake 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 White Lake Tax Rate
1.22%
Average Oakland County Tax Rate
1.37%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across White Lake, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48383 | 0.89% | 1.07% | 1.24% | 1.52% | 1.68% |
| 48386 | 0.87% | 0.99% | 1.20% | 1.46% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across White Lake, Michigan
In White Lake, 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 White Lake, 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. For instance, the highest median tax bill in White Lake is $4,127 in the 48383 zip code, while the lowest is $3,735 in the 48386 zip code. 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 White Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average White Lake Assessed Value
$310,950
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 White Lake, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48383 | $167,134 | $242,890 | $334,220 | $407,165 | $501,438 |
| 48386 | $178,420 | $229,295 | $294,550 | $393,465 | $489,798 |
Source: Ownwell
Property Tax Bills Across White Lake, Michigan
In White Lake, located in Oakland County, MI, property tax bills are calculated based on the assessed value of a home, which is typically 50% of its market value. For instance, with a median home price of $310,950, the assessed value would be approximately $155,475. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Factors such as local government budgets, school funding, and municipal services influence the tax rate. Homeowners in White Lake can expect varying tax bills depending on their property's assessed value. The tax bill at the 25th percentile is around $2,625, while at the 75th percentile, it rises to $5,356. At the 90th percentile, it reaches $6,792. Notably, the highest median tax bill in the area is $4,127 in the 48383 zip code, while the lowest is $3,735 in the 48386 zip code. Compared to the national median property tax rate of 0.99%, White Lake's tax rates can significantly impact homeowners, influencing their financial planning and homeownership costs.
Average White Lake Tax Bill
$3,885
Average Oakland County Tax Bill
$3,833
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across White Lake, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48383 | $1,957 | $2,974 | $4,127 | $5,557 | $7,004 |
| 48386 | $1,823 | $2,487 | $3,735 | $5,202 | $6,655 |
Source: Ownwell