Colgate, Wisconsin Property Taxes
The median property tax rate in Colgate, WI is 1.23%, which is considerably higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value of $339,600, the typical annual property tax bill in Colgate reaches $3,853, surpassing the national median of $2,690. Property taxes in Colgate are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Colgate'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 Colgate or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Colgate, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$4,177
Ownwell’s Colgate Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Colgate with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Colgate 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 Colgate, Wisconsin
Property taxes in Colgate, Wisconsin, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Colgate is 1.23%, higher than both the Wisconsin state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Colgate set these rates annually, and they can vary significantly across different neighborhoods. Each year, Colgate 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 Colgate's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53017 zip code has the highest median property tax rate of 1.23%, while the 53017 zip code also has the lowest median tax rate of 1.23%. Understanding how these cities compare with Colgate 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 Colgate Tax Rate
1.23%
Average Waukesha County Tax Rate
1.34%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Colgate, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53017 | 0.95% | 0.99% | 1.23% | 1.23% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Colgate, Wisconsin
In Colgate, 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 Colgate, 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 Colgate helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 53017, with a median tax bill of $3,853.
Average Colgate Assessed Value
$339,600
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 Colgate, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53017 | $277,600 | $293,800 | $339,600 | $414,400 | $487,500 |
Source: Ownwell
Property Tax Bills Across Colgate, Wisconsin
Property tax bills in Colgate, located in Waukesha County, WI, are calculated based on the assessed value of a property and the local tax rate. The median home price in Colgate is $339,600, and the property tax rate is a crucial factor in determining the tax bill. Homeowners in Colgate can expect their tax bills to vary significantly, with the 25th percentile tax bill at $3,507 and the 75th percentile tax bill at $4,621. For those at the 90th percentile, the tax bill can reach up to $5,491. These figures are influenced by the assessed value of the property, which is determined by local assessors based on various factors such as property size, location, and market conditions. Compared to the national median property tax rate of 0.99%, Colgate residents experience relatively high property taxes. This can have a significant impact on homeowners, affecting their overall housing costs and financial planning. The highest and lowest median tax bills in the area are both $3,853, indicating a relatively consistent tax rate across different properties.
Average Colgate Tax Bill
$3,853
Average Waukesha County Tax Bill
$4,538
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Colgate, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53017 | $3,243 | $3,507 | $3,853 | $4,621 | $5,491 |
Source: Ownwell