Rochester Hills, Michigan Property Taxes
The median property tax rate in Rochester Hills, MI is 1.20%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Rochester Hills at $330,320, the typical annual property tax bill reaches $3,893, exceeding the national median of $2,690. Property taxes in Rochester Hills 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 Rochester Hills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Rochester Hills 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
Rochester Hills, Michigan Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$2,140
Ownwell’s Rochester Hills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rochester Hills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rochester Hills 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 Rochester Hills, Michigan
Property taxes in Rochester Hills, Michigan, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rochester Hills is 1.20%, higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Rochester Hills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rochester Hills 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 Rochester Hills' effective property tax rate to other counties in Michigan and the national median. For comparison, the 48309 zip code has the highest median property tax rate of 1.22%, while the 48307 zip code has the lowest median tax rate of 1.15%. Understanding how these cities compare with Rochester Hills 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 Rochester Hills Tax Rate
1.20%
Average Oakland County Tax Rate
1.37%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rochester Hills, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48306 | 0.96% | 1.05% | 1.20% | 1.43% | 1.51% |
| 48307 | 0.87% | 0.99% | 1.15% | 1.43% | 1.59% |
| 48309 | 1.00% | 1.07% | 1.22% | 1.49% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Rochester Hills, Michigan
In Rochester Hills, 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 Rochester Hills, 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 Rochester Hills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the highest median tax bill in the area is $4,907 in zip code 48306, while the lowest is $3,319 in zip code 48307. This range highlights the importance of understanding your property's assessed value and exploring all available options to potentially reduce your tax bill.
Property Tax Assessment Values Across Rochester Hills, Michigan
Source: Ownwell
$64,640
$936,355
$1,808,070
Average Rochester Hills Assessed Value
$330,320
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 Rochester Hills, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48306 | $221,602 | $335,035 | $405,840 | $476,525 | $633,390 |
| 48307 | $159,562 | $202,435 | $279,850 | $356,300 | $431,628 |
| 48309 | $167,360 | $234,980 | $338,340 | $393,880 | $471,308 |
Source: Ownwell
Property Tax Bills Across Rochester Hills, Michigan
In Rochester Hills, Oakland County, MI, property tax bills are calculated based on the assessed value of your home, which is typically 50% of its market value. For instance, with a median home price of $330,320, the assessed value would be approximately $165,160. The local property tax rate is then applied to this assessed value to determine your tax bill. Factors that influence the tax bill include the home's location, market conditions, and any applicable exemptions or deductions. Homeowners in Rochester Hills can expect a range of tax bills depending on their property's specifics. The 25th percentile tax bill is around $2,905, while the 75th percentile reaches $5,237, and the 90th percentile can go up to $6,718. The highest median tax bill in the area is $4,907 in the 48306 zip code, compared to the lowest median tax bill of $3,319 in the 48307 zip code. These taxes fund essential public services, impacting homeowners' overall living costs and community benefits.
Average Rochester Hills Tax Bill
$3,893
Average Oakland County Tax Bill
$3,833
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Rochester Hills, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48306 | $2,902 | $3,712 | $4,907 | $6,311 | $8,499 |
| 48307 | $1,669 | $2,454 | $3,319 | $4,598 | $5,786 |
| 48309 | $2,241 | $3,101 | $4,020 | $5,237 | $6,677 |
Source: Ownwell