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Waterford, Oakland County, Michigan Property Taxes

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Property Taxes in Waterford, Michigan

  • Median Waterford, Michigan effective property tax rate: 0.70%, significantly lower than the national median of 1.02%, and lower than the Michigan state median of 1.05%.

  • Median Waterford, Michigan home value: $227,540

  • Median annual Waterford, Michigan tax bill: $1,657, $743 lower than the national median property tax bill of $2,400.

How are property taxes in Oakland calculated?

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

Last Updated April 13, 2026

Waterford, Oakland County, Michigan Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.7%

Estimate Property Tax Bill

$1,593

$1,478

SAVE WITH OWNWELL

$774

Average Annual Tax Savings

How Does the Waterford Property Tax Calculator Work?

Use this Waterford property tax calculator to estimate your annual tax bill. Enter your property's assessed value and our calculator applies Waterford's median effective tax rate of 0.70% — based on actual property records in Oakland County — to generate your estimate.

Enter your property's estimated assessed value — the figure the local assessment process uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Waterford's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.

Your bill may vary by ZIP code within Waterford: rates range from $1,487.00 in 48328 to $1,776.00 in 48329, primarily due to differences in school district levies and local assessment districts.

If your estimate is higher than expected, Ownwell can appeal your Waterford assessment — you only pay if we save you money.

About Waterford Property Taxes

About Property Taxes in Waterford, Oakland, Michigan

Waterford’s median effective property tax rate of 0.70% is lower than the Michigan state median of 1.05% and lower than the national median of 1.02%. This rate reflects the Oakland County base levy combined with local school district levies and tax increment finance districts that vary by subdivision throughout the city.

Property tax rates are not uniform across Waterford. Homeowners in the 48327 ZIP code carry a median effective rate of 0.70%, while those in 48328 pay 0.70%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Oakland County. Understanding which part of Waterford you live in can make a meaningful difference to your annual tax bill.

Waterford homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the March 9, 2026 deadline each year.

If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.

Property Tax Rates Across Waterford, Oakland County, Michigan

As noted earlier, local government entities set tax rates, which can vary widely within a state.

Why? Because annually, each county estimates its required budget to provide 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, in a nutshell, this is the annual process.

Below, you can compare Waterford's effective property tax rate to other cities in Michigan and the median property tax rates in Michigan and the U.S.

Property Tax Rates Across Waterford, 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 Waterford Tax Rate

0.70%

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 Waterford, Oakland County, Michigan

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
483270.52%0.58%0.70%0.97%1.07%
483280.46%0.53%0.70%0.97%1.07%
483290.52%0.58%0.70%0.95%1.07%

Source: Ownwell

Property Tax Assessment Values Across Waterford, Oakland County, Michigan

When examining property taxes in Waterford, Michigan, 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. Oakland County 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.

Assessment notices in Oakland County are sent in the spring each year and 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.

For example, the median home price in Waterford is $227,540, with tax bills ranging significantly across the county. ZIP code 48329 has the highest median home price at $241,090. The median property tax bill is $1,657, compared with the national median property tax bill of $2,400.

Property Tax Assessment Values Across Waterford, Oakland County, Michigan

Source: Ownwell

$3,200

$684,440

$1,365,680

Median Waterford Market Value

$227,540

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 Waterford, Oakland County, Michigan

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
48327$144,300$184,640$231,110$295,640$353,848
48328$126,420$165,140$208,720$276,660$451,416
48329$157,680$193,885$241,090$313,315$457,006

Source: Ownwell

Property Tax Bills Across Waterford, Oakland County, Michigan

Waterford property tax bills are based on the assessed value of a home, not the market value, and the local tax rate set by taxing authorities. For a home with a median home price of $227,540, the tax bill can vary widely depending on exemptions, local levies, and how accurately the property is assessed. In Waterford, the 25th percentile tax bill is $1,185, the 75th percentile is $2,462, and the 90th percentile is $3,603, showing how much bills can differ from one homeowner to another.

Because property taxes are a recurring expense, even a small assessment error can raise your bill year after year. That is why reviewing your assessment matters. Ownwell helps homeowners challenge unfair assessments and find exemptions that may lower their property tax bills. If your home is overassessed, Ownwell can help you pursue savings and reduce what you pay.

Property Tax Bills Across Waterford, Oakland County, Michigan

Source: Ownwell

$69

$8,513

$16,957

Median Waterford Tax Bill

$1,657

Median Oakland County Tax Bill

$3,235

Median Michigan Tax Bill

$2,084

Median United States Tax Bill

$2,400

Property Tax Bills Across Waterford, Oakland County, Michigan

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
48327$949$1,244$1,696$2,381$3,227
48328$749$1,036$1,487$2,300$3,785
48329$1,005$1,287$1,776$2,634$3,837

Source: Ownwell

Don't miss the deadline to appeal!

Frequently Asked Property Tax Questions in Waterford, Michigan

How are property taxes calculated in Waterford, Michigan?
Property taxes in Waterford, 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 Waterford, Michigan?
To appeal your property taxes in Waterford, 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 Waterford, Michigan?
Common property tax exemptions in Waterford, 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 Waterford, Michigan?
Property tax deadlines in Waterford, 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 Waterford, Michigan?
Ownwell provides professional property tax appeal services in Waterford, 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.