Lomira, Wisconsin Property Taxes
The median property tax rate in Lomira, WI is 1.39%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Lomira at $411,977, the typical annual property tax bill reaches $6,153, significantly exceeding the national median of $2,690. Property taxes in Lomira 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 Lomira's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lomira 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
Lomira, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$5,726
Ownwell’s Lomira Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lomira with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lomira 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 Lomira, Wisconsin
Property taxes in Lomira, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lomira is 1.39%, which is significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Lomira set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lomira 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 Lomira's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 53048 has both the highest and the lowest median property tax rate of 1.39%. Understanding how these cities compare with Lomira provides valuable insights into the varying tax landscape across Fond du Lac County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lomira Tax Rate
1.39%
Average Fond Du Lac County Tax Rate
1.74%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lomira, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53048 | 1.31% | 1.38% | 1.39% | 1.45% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Lomira, Wisconsin
In Lomira, Wisconsin, 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 Fond du Lac 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 Lomira, 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. With a median home price of $411,977, property tax bills can vary significantly. For instance, the 25th percentile tax bill is around $3,800, while the 75th percentile reaches $8,672, and the 90th percentile peaks at $9,274. 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 Lomira helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lomira Assessed Value
$411,977
Average Fond Du Lac County Assessed Value
$166,996
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lomira, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53048 | $262,856 | $293,318 | $411,977 | $610,933 | $658,007 |
Source: Ownwell
Property Tax Bills Across Lomira, Wisconsin
In Lomira, located in Fond du Lac County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local assessors who evaluate the property's market value. This value is then multiplied by the local tax rate to determine the tax bill. For instance, with a median home price of $411,977, homeowners can expect varying tax bills depending on their property's assessed value and specific tax rate. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. In Lomira, the 25th percentile of tax bills is around $3,800, while the 75th percentile reaches up to $8,672. At the 90th percentile, tax bills can be as high as $9,274. These figures highlight the range of property tax obligations homeowners might face, significantly impacting their annual financial planning. Compared to the national median property tax rate of 0.99%, homeowners in Lomira may experience variations that reflect local economic conditions and municipal budget requirements.
Average Lomira Tax Bill
$6,153
Average Fond Du Lac County Tax Bill
$2,722
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Lomira, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53048 | $3,555 | $3,800 | $6,153 | $8,672 | $9,274 |
Source: Ownwell