Port Washington, Wisconsin Property Taxes
The median property tax rate in Port Washington, WI is 1.32%, 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 Port Washington at $258,950, the typical annual property tax bill reaches $3,349, exceeding the national median of $2,690. Property taxes in Port Washington 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 Port Washington'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 Port Washington 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
Port Washington, Wisconsin Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$3,160
Ownwell’s Port Washington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Port Washington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Port Washington 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 Port Washington, Wisconsin
Property taxes in Port Washington, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Port Washington is 1.32%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Port Washington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Port Washington 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 Port Washington's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53074 zip code has the highest median property tax rate of 1.32%, while the same zip code also has the lowest median tax rate of 1.32%. Understanding how these cities compare with Port Washington 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 Port Washington Tax Rate
1.32%
Average Ozaukee County Tax Rate
1.24%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Port Washington, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53074 | 1.04% | 1.29% | 1.32% | 1.35% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Port Washington, Wisconsin
In Port Washington, 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 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 Port Washington, 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. The highest median tax bill in Port Washington is $3,349 in the 53074 zip code, which is significantly above the national median property tax rate of 0.99%. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Port Washington, Wisconsin
Source: Ownwell
$207,100
$505,950
$804,800
Average Port Washington Assessed Value
$258,950
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 Port Washington, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53074 | $183,000 | $214,600 | $258,950 | $335,375 | $433,760 |
Source: Ownwell
Property Tax Bills Across Port Washington, Wisconsin
In Port Washington, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is then multiplied by the property tax rate set by local taxing authorities. For homeowners in Ozaukee County, the median home price stands at $258,950. Factors such as the property's location, size, and improvements can influence its assessed value. Homeowners in Port Washington typically see a range of tax bills. At the 25th percentile, the tax bill is around $2,775, while those at the 75th percentile pay approximately $4,295. The top 10% of homeowners face tax bills nearing $5,635. Compared to the national median property tax rate of 0.99%, the rates in Port Washington reflect the city's specific economic and property conditions. For instance, the highest and lowest median tax bills in the area both stand at $3,349, indicating a relatively consistent tax landscape within the zip code 53074. This consistency can help homeowners plan their finances more effectively.
Average Port Washington Tax Bill
$3,349
Average Ozaukee County Tax Bill
$4,109
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Port Washington, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53074 | $2,331 | $2,775 | $3,349 | $4,295 | $5,635 |
Source: Ownwell