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Novi, Oakland County, Michigan Property Taxes

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Property Taxes in Novi, Michigan

  • 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

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.35%

Estimate Property Tax Bill

$5,084

$4,718

SAVE WITH OWNWELL

$774

Average Annual Tax Savings

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 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 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

0.50%

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 Novi Tax Rate

1.35%

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 Novi, Oakland County, Michigan

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
483741.12%1.25%1.45%1.56%1.61%
483750.86%1.03%1.24%1.51%1.59%
483770.98%1.21%1.45%1.58%1.91%

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

$3,200

$684,440

$1,365,680

Median Novi Market Value

$376,610

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 Novi, Oakland County, Michigan

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
48374$329,898$415,485$521,870$638,415$748,972
48375$145,260$207,600$321,080$425,000$532,220
48377$106,236$229,230$287,740$439,420$536,964

Source: Ownwell

Property Tax Bills Across Novi, Oakland County, Michigan

In Novi, located in Oakland County, MI, property tax bills are determined by assessing the property’s market value and applying the local tax rate. The assessed value is typically a percentage of the market value, and this figure is then multiplied by the tax rate to calculate the annual tax bill. Homeowners in Novi face a median tax bill that is significantly higher than the national median of $2,400, with amounts ranging from $3,431 at the 25th percentile to $9,884 at the 90th percentile. The highest median tax bill in Novi is $7,718 in the 48374 zip code, while the lowest is $4,230 in the 48375 zip code. These figures highlight the substantial financial burden property taxes can impose on homeowners. Ownwell offers valuable services to help homeowners in Novi reduce their property tax bills. By providing expert property tax appeal and exemption services, Ownwell assists homeowners in potentially lowering their assessed values, thereby decreasing their annual tax obligations and alleviating financial pressure.

Property Tax Bills Across Novi, Oakland County, Michigan

Source: Ownwell

$69

$8,513

$16,957

Median Novi Tax Bill

$5,178

Median Oakland County Tax Bill

$3,235

Median Michigan Tax Bill

$2,084

Median United States Tax Bill

$2,400

Property Tax Bills Across Novi, Oakland County, Michigan

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
48374$4,203$5,632$7,450$9,368$11,359
48375$1,514$2,692$4,024$5,789$7,593
48377$2,255$3,294$4,740$6,551$8,363

Source: Ownwell

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Frequently Asked Property Tax Questions in Novi, Michigan

How are property taxes calculated in Novi, Michigan?
Property taxes in Novi, Michigan are calculated by multiplying your property's assessed value by the applicable tax rate set by local taxing authorities. The assessed value is determined by the county assessor and may differ from your property's market value depending on local assessment ratios and exemptions.
How do I appeal my property taxes in Novi, Michigan?
To appeal your property taxes in Novi, Michigan, you typically need to file a formal protest or appeal with your local appraisal district or assessor's office by the stated deadline. You'll need evidence such as comparable sales, a recent independent appraisal, or documentation of property condition issues. Ownwell can handle this entire process for you.
What property tax exemptions are available in Novi, Michigan?
Common property tax exemptions in Novi, Michigan include homestead exemptions for primary residences, senior citizen exemptions, veteran exemptions, and disability exemptions. Exemption amounts and eligibility requirements vary by county. Contact your local appraisal district or check Ownwell for details specific to your property.
When are property taxes due in Novi, Michigan?
Property tax deadlines in Novi, Michigan vary by county but typically include an assessment notice period in spring or early summer, followed by an appeal deadline, and a tax payment due date in the fall or winter. Check with your county assessor's office for specific dates in your area.
How can Ownwell help reduce my property taxes in Novi, Michigan?
Ownwell provides professional property tax appeal services in Novi, Michigan. Our team analyzes your assessment, gathers evidence, files all paperwork, and represents you at hearings — all with no upfront cost. You only pay a percentage of your savings if we successfully lower your tax bill.