Mequon, Wisconsin Property Taxes
The median property tax rate in Mequon, WI is 1.19%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Mequon at $443,900, the typical annual property tax bill reaches $5,263, exceeding the national median of $2,690. Property taxes in Mequon 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 Mequon'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 Mequon 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
Mequon, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$5,282
Ownwell’s Mequon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mequon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mequon 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 Mequon, Wisconsin
Property taxes in Mequon, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mequon is 1.19%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Mequon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mequon 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 Mequon's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53092 zip code has the highest median property tax rate of 1.20%, while the 53097 zip code has the lowest median tax rate of 1.15%. Understanding how these cities compare with Mequon provides valuable insights into the varying tax landscape across Ozaukee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mequon Tax Rate
1.19%
Average Ozaukee County Tax Rate
1.24%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mequon, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53092 | 1.16% | 1.18% | 1.20% | 1.22% | 1.23% |
| 53097 | 1.02% | 1.06% | 1.15% | 1.19% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Mequon, Wisconsin
In Mequon, 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 Ozaukee County authorities 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 Mequon, 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. For instance, the highest median tax bill in Mequon is $5,385 in the 53092 zip code, while the lowest median tax bill is $4,952 in the 53097 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mequon Assessed Value
$443,900
Average Ozaukee County Assessed Value
$339,400
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mequon, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53092 | $263,160 | $334,400 | $448,400 | $649,250 | $890,500 |
| 53097 | $255,850 | $323,425 | $429,100 | $648,775 | $938,700 |
Source: Ownwell
Property Tax Bills Across Mequon, Wisconsin
In Mequon, located in Ozaukee County, WI, property tax bills are calculated based on the assessed value of a property and the applicable tax rate. The assessed value is determined by the local assessor and reflects the property's market value. Homeowners in Mequon see a range of property tax bills, with the 25th percentile at $3,879 and the 75th percentile reaching $7,818. The tax bill can climb even higher, with the 90th percentile at $10,775. Several factors influence the tax bill, including the property's location, size, and any improvements made. Zip code 53092 has the highest median tax bill at $5,385, while zip code 53097 has a slightly lower median tax bill of $4,952. Compared to the national median property tax rate of 0.99%, Mequon's property taxes can significantly impact homeowners, particularly those with higher-valued properties. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Mequon Tax Bill
$5,263
Average Ozaukee County Tax Bill
$4,109
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Mequon, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53092 | $3,059 | $3,964 | $5,385 | $7,881 | $10,885 |
| 53097 | $2,813 | $3,614 | $4,952 | $7,641 | $10,303 |
Source: Ownwell