Brookfield, Wisconsin Property Taxes
The median property tax rate in Brookfield, WI is 1.41%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Brookfield at $371,700, the typical annual property tax bill reaches $5,145, exceeding the national median of $2,690. Property taxes in Brookfield 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 Brookfield'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 Brookfield 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
Brookfield, 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 Brookfield Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Brookfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brookfield 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 Brookfield, Wisconsin
Property taxes in Brookfield, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brookfield is 1.41%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Brookfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brookfield 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 Brookfield's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the 53005 zip code has the highest median property tax rate of 1.41%, while the 53072 zip code has the lowest median tax rate of 1.25%. Understanding how these areas compare with Brookfield provides valuable insights into the varying tax landscape across Waukesha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brookfield Tax Rate
1.41%
Average Waukesha County Tax Rate
1.34%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brookfield, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53005 | 1.41% | 1.41% | 1.41% | 1.41% | 1.41% |
| 53045 | 1.14% | 1.41% | 1.41% | 1.41% | 1.41% |
| 53072 | 1.25% | 1.25% | 1.25% | 1.26% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Brookfield, Wisconsin
In Brookfield, 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 Waukesha 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 Brookfield, 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 Brookfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Brookfield is $5,533 in the 53072 zip code, while the lowest median tax bill is $4,911 in the 53005 zip code.
Average Brookfield Assessed Value
$371,700
Average Waukesha County Assessed Value
$348,408
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brookfield, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53005 | $270,500 | $300,400 | $348,750 | $446,900 | $575,390 |
| 53045 | $267,100 | $328,100 | $394,600 | $534,600 | $767,640 |
| 53072 | $201,120 | $298,500 | $440,900 | $538,700 | $636,760 |
Source: Ownwell
Property Tax Bills Across Brookfield, Wisconsin
In Brookfield, located in Waukesha County, WI, property tax bills are determined based on the assessed value of a homeowner's property. The local tax rate is applied to this assessed value to calculate the annual tax bill. Various factors influence the assessed value, including the property's market value, location, and any improvements made to the home. For instance, the median home price in Brookfield is $371,700. Property taxes can vary significantly, with the 25th percentile tax bill at $4,317 and the 75th percentile at $6,768. At the higher end, the 90th percentile tax bill reaches $9,505. The highest median tax bill in the area is $5,533 in the 53072 zip code, while the lowest is $4,911 in the 53005 zip code. These property taxes impact homeowners by contributing to local services such as public schools, infrastructure, and emergency services, making them a crucial component of community funding. Comparing these figures to the national median property tax rate of 0.99%, it is evident that Brookfield's property tax rates are relatively higher, reflecting the area's market conditions and public service needs.
Average Brookfield Tax Bill
$5,145
Average Waukesha County Tax Bill
$4,538
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Brookfield, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53005 | $3,809 | $4,230 | $4,911 | $6,293 | $8,103 |
| 53045 | $3,580 | $4,462 | $5,362 | $7,384 | $10,760 |
| 53072 | $2,695 | $3,746 | $5,533 | $6,760 | $7,991 |
Source: Ownwell