Germantown, Wisconsin Property Taxes
The median property tax rate in Germantown, WI is 1.48%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Germantown at $299,040, the typical annual property tax bill reaches $4,407, exceeding the national median of $2,690. Property taxes in Germantown 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 Germantown'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 Germantown 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
Germantown, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$4,426
Ownwell’s Germantown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Germantown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Germantown 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 Germantown, Wisconsin
Property taxes in Germantown, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Germantown is 1.48%, significantly higher than the U.S. national median of 0.99%. Local government entities within Germantown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Germantown 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 Germantown's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 53022 has both the highest and lowest median property tax rate of 1.48%. Understanding how these cities compare with Germantown provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Germantown Tax Rate
1.48%
Average Washington County Tax Rate
1.22%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Germantown, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53022 | 1.31% | 1.45% | 1.48% | 1.50% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Germantown, Wisconsin
In Germantown, 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 Washington 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 Germantown, 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. For instance, the median home price in Germantown is $299,040, with tax bills ranging from $3,221 at the 25th percentile to $6,934 at the 90th percentile. The highest and lowest median tax bills are both $4,407 in the 53022 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Germantown Assessed Value
$299,040
Average Washington County Assessed Value
$284,190
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Germantown, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53022 | $112,140 | $228,072 | $299,040 | $371,850 | $457,986 |
Source: Ownwell
Property Tax Bills Across Germantown, Wisconsin
In Germantown, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate. For Germantown, located in Washington County, the median home price is $299,040. Homeowners in this area can expect their tax bills to vary significantly, with the 25th percentile tax bill at $3,221 and the 75th percentile at $5,555. The tax bill for the 90th percentile reaches $6,934. Factors such as the home's location within the county, property size, and any applicable exemptions influence the final tax bill. Compared to the national median property tax rate of 0.99%, Germantown's property taxes can be quite substantial. This financial obligation can significantly impact homeowners, affecting their monthly budgets and long-term financial planning. Understanding these factors is crucial for homeowners to anticipate their annual tax responsibilities and manage their finances effectively.
Average Germantown Tax Bill
$4,407
Average Washington County Tax Bill
$3,282
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Germantown, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53022 | $1,571 | $3,221 | $4,407 | $5,555 | $6,934 |
Source: Ownwell