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Farmington, Oakland County, Michigan Property Taxes

  • Median Farmington, MI effective property tax rate: 1.60%, significantly higher than the national median of 1.02%, but lower than the Michigan state median of 1.07%.

  • Median Farmington, MI home value: $251,400

  • Median annual Farmington, MI tax bill: $4,195, $1,795 higher than the national median property tax bill of $2,400.

How are property taxes in Oakland calculated?

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

Last Updated March 1, 2025

Farmington, Oakland County, Michigan Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.39%

Estimate Property Tax Bill

$3,782

$3,510

SAVE WITH OWNWELL

$1,102

Average Tax Savings

Ownwell’s Farmington Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Farmington with just two data points. By entering your property's estimated assessed value, our calculator applies Farmington’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 more 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 Farmington, Oakland County, Michigan

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the annual process in a nutshell. Farmington in Oakland County, MI, has a property tax rate that reflects this county-specific calculation. Oakland County's median property tax rate is 1.60%, which is significantly higher than the national median of 1.02%. This means that property owners in Farmington may experience a higher tax burden compared to the national average. Within Oakland County, the variation is evident as the highest median tax rate is 2.19% in the 48334 zip code, while the lowest is 1.57% in the 48336 zip code. This highlights the importance of understanding local tax rates and how they compare to both state and national averages.

Property Tax Rates Across Farmington, Oakland County, Michigan

Source: Ownwell

0.50%

1.30%

2.10%

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 Farmington Tax Rate

1.39%

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 Oakland County Tax Rate

1.04%

Median Effective Michigan Tax Rate

1.05%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Farmington, Oakland County, Michigan

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
483311.14%1.33%1.71%1.83%1.83%
483341.16%1.53%1.82%1.82%2.15%
483351.08%1.21%1.37%1.74%1.92%
483361.02%1.17%1.36%1.75%1.95%

Source: Ownwell

Property Tax Assessment Values Across Farmington, Oakland County, Michigan

When examining property taxes in Farmington, 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 March. 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 Farmington. For example, the median home price in Farmington is $251,400, with tax bills ranging significantly across the county. Zip code 48331 has the highest median home price at $425,120.

Property Tax Assessment Values Across Farmington, Oakland County, Michigan

Source: Ownwell

$3,200

$684,440

$1,365,680

Median Farmington Market Value

$272,080

Median Oakland County Market Value

$301,920

Median Michigan Market Value

$213,740

Median United States Market Value

$235,294

Property Tax Assessment Values Across Farmington, Oakland County, Michigan

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
48331$437,668$475,450$508,140$594,970$670,232
48334$3,200$3,200$3,200$353,420$399,098
48335$233,532$277,190$335,180$384,700$451,756
48336$104,682$197,010$248,140$289,845$342,264

Source: Ownwell

Property Tax Bills Across Farmington, Oakland County, Michigan

In Farmington, Michigan, property tax bills are calculated based on the assessed value of a home, which is determined by Oakland County. This assessed value is typically around 50% of the property's market value. Homeowners in Farmington can expect a median property tax bill of $3,694, significantly higher than the national median of $2,400. Factors such as property location, improvements, and market conditions can influence the assessed value, impacting the tax bill. For instance, homes in the 48331 zip code face the highest median tax bill of $9,159. With such variability, understanding your property's assessed value is crucial for managing expenses.

Ownwell offers valuable assistance in reducing property tax bills by providing expert property tax appeal services. By analyzing the assessed value and comparing it to similar properties, Ownwell identifies discrepancies and files appeals to ensure fair taxation. This service can lead to significant savings for homeowners, helping them manage their finances more effectively amidst rising property taxes.

Property Tax Bills Across Farmington, Oakland County, Michigan

Source: Ownwell

$69

$8,513

$16,957

Median Farmington Tax Bill

$3,939

Median Oakland County Tax Bill

$3,235

Median Michigan Tax Bill

$2,084

Median United States Tax Bill

$2,400

Property Tax Bills Across Farmington, Oakland County, Michigan

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
48331$5,495$6,580$8,305$9,024$12,240
48334$58$58$69$4,426$6,342
48335$2,892$3,869$4,735$5,925$7,356
48336$1,338$2,523$3,439$4,525$5,643

Source: Ownwell

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