Novi, Oakland County, Michigan Property Taxes

Name: Property Tax Bills Across Novi, Oakland County, Michigan
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median NOVI, MI effective property tax rate: 1.38%, significantly higher than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median NOVI, MI home value: $376,600
Median annual NOVI, MI tax bill: $5,246, $2,846 higher than the national median property tax bill of $2,400.

How are property taxes in Oakland calculated?

Property taxes in NOVI, 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 NOVI’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in NOVI, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Novi, Oakland County, Michigan Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.38%

Estimate Property Tax Bill

$5,197

$4,823

Ownwell’s Novi Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Novi with just two data points. By entering your property's estimated assessed value, our calculator applies Novi’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 Oakland County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Novi, Oakland County, Michigan

Local government entities set tax rates, which can vary significantly within a state. This variation occurs because each county annually estimates its required budget for providing services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, this is the annual process in a nutshell. In Novi, located in Oakland County, Michigan, the effective property tax rate is influenced by these local calculations. Comparing this rate to other cities within Michigan, you'll find differences that reflect each area's unique budgetary needs and property values. The median property tax rate in Michigan is higher than the national median, indicating a more significant financial commitment to local services. Novi itself has a range of tax rates, with some areas experiencing higher rates than others. This local variability underscores the importance of understanding how property taxes are determined and the impact they have on homeowners.

Property Tax Rates Across Novi, Oakland County, Michigan

Source: Ownwell

0.91%

1.60%

2.28%

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 Novi Tax Rate

1.38%

Median Effective Oakland County Tax Rate

1.37%

Median Effective Michigan Tax Rate

1.07%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Novi, Oakland County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
48374	1.19%	1.28%	1.47%	1.62%	1.72%
48375	0.91%	1.09%	1.29%	1.58%	1.72%
48377	0.89%	1.12%	1.38%	1.56%	1.92%

Source: Ownwell

Property Tax Assessment Values Across Novi, Oakland County, Michigan

When examining property taxes in Novi, 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 Oakland 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.

In Oakland County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Novi. For example, the median home price in Novi is $376,600, with tax bills ranging significantly across the county. Zip code 48374 has the highest median home price at $521,870.

Property Tax Assessment Values Across Novi, Oakland County, Michigan

Source: Ownwell

$64,640

$675,030

$1,285,420

Median Novi Market Value

$376,600

Median Oakland County Market Value

$273,320

Median Michigan Market Value

$177,800

Median United States Market Value

$235,294

Property Tax Assessment Values Across Novi, Oakland County, Michigan

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
48374	$329,898	$415,485	$521,870	$638,415	$748,972
48375	$145,260	$207,600	$321,080	$425,000	$532,220
48377	$105,564	$228,975	$287,740	$439,410	$536,936

Source: Ownwell

Property Tax Bills Across Novi, Oakland County, Michigan

In Novi, located in Oakland County, MI, property tax bills are calculated based on the assessed value of the property, which is typically 50% of the market value. With a median home price of $376,600, homeowners face property tax bills that can vary significantly. The 25th percentile tax bill is $3,431, while the 75th percentile reaches $7,609, and the 90th percentile can be as high as $9,884. The highest median tax bill is found in the 48374 zip code at $7,718, whereas the lowest is $4,230 in the 48375 zip code. Compared to the national median property tax rate of 1.02% and the median tax bill of $2,400, Novi's property taxes are notably higher, impacting homeowners' finances significantly. This is where Ownwell can be a valuable ally. By providing expert property tax appeal and exemption services, Ownwell helps homeowners potentially reduce their tax bills, ensuring they pay only their fair share and easing the financial burden associated with homeownership in Novi.

Property Tax Bills Across Novi, Oakland County, Michigan

Source: Ownwell

$936

$8,192

$15,447

Median Novi Tax Bill

$5,246

Median Oakland County Tax Bill

$3,833

Median Michigan Tax Bill

$1,795

Median United States Tax Bill

$2,400

Property Tax Bills Across Novi, Oakland County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
48374	$4,406	$5,788	$7,718	$9,755	$12,065
48375	$1,577	$2,849	$4,230	$6,072	$8,016
48377	$2,070	$3,094	$4,556	$6,281	$8,226

Source: Ownwell