Genoa City, Wisconsin Property Taxes
The median property tax rate in Genoa City, WI is 1.38%, which is considerably higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Genoa City at $335,611, the typical annual property tax bill reaches $4,634, far exceeding the national median of $2,690. Property taxes in Genoa City are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Genoa City'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 Genoa City 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
Genoa City, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.38%
Estimate Property Tax Bill
$4,631
Ownwell’s Genoa City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Genoa City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Genoa City 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 Genoa City, Wisconsin
Property taxes in Genoa City, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Genoa City is 1.38%, higher than the U.S. national median of 0.99%. Local government entities within Genoa City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Genoa City 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 Genoa City's effective property tax rate to other areas and the national median. For comparison, the zip code 53128 has the highest median property tax rate of 1.38%, while the same zip code also has the lowest median tax rate of 1.38%. Understanding how these areas compare with Genoa City provides valuable insights into the varying tax landscape across Kenosha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Genoa City Tax Rate
1.38%
Average Kenosha County Tax Rate
2.06%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Genoa City, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53128 | 1.32% | 1.33% | 1.38% | 1.42% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across Genoa City, Wisconsin
In Genoa City, 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 local 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 Genoa City, 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 Genoa City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median tax bill in the area is $4,634, with the highest and lowest median tax bills both found in the 53128 zip code.
Average Genoa City Assessed Value
$335,611
Average Kenosha County Assessed Value
$201,507
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Genoa City, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53128 | $191,593 | $245,330 | $335,611 | $626,225 | $1,059,558 |
Source: Ownwell
Property Tax Bills Across Genoa City, Wisconsin
In Genoa City, located in Kenosha County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Genoa City is $335,611. Property taxes are derived by multiplying the assessed value by the local tax rate, which can vary within the county. For example, the tax bill at the 25th percentile is $3,370, while at the 75th percentile, it reaches $8,737. At the 90th percentile, homeowners might see a tax bill as high as $14,791. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. Homeowners in Genoa City may find their tax bills higher or lower depending on these variables. Comparatively, the highest and lowest median tax bills in the area are both recorded at $4,634 in the 53128 zip code. Understanding these factors helps homeowners better anticipate their annual property tax obligations and budget accordingly.
Average Genoa City Tax Bill
$4,634
Average Kenosha County Tax Bill
$4,787
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Genoa City, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53128 | $2,647 | $3,370 | $4,634 | $8,737 | $14,791 |
Source: Ownwell