New Munster, Wisconsin Property Taxes
The median property tax rate in New Munster, WI is 1.43%, 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 New Munster at $173,386, the typical annual property tax bill reaches $2,513, slightly below the national median of $2,690. Property taxes in New Munster are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding New Munster'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 New Munster 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
New Munster, 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 New Munster Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Munster with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Munster 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 New Munster, Wisconsin
Property taxes in New Munster, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Munster is 1.43%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within New Munster set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Munster 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 New Munster's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the 53152 zip code has both the highest and lowest median property tax rate of 1.43%. Understanding how these cities compare with New Munster provides valuable insights into the varying tax landscape across Kenosha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Munster Tax Rate
1.43%
Average Kenosha County Tax Rate
2.06%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Munster, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53152 | 1.31% | 1.36% | 1.43% | 1.50% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across New Munster, Wisconsin
In New Munster, 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 Kenosha 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 New Munster, 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 New Munster helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 53152 has the highest median tax bill at $2,513, which is significantly higher than the national median property tax rate of 0.99%.
Average New Munster Assessed Value
$173,386
Average Kenosha County Assessed Value
$201,507
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Munster, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53152 | $21,509 | $70,341 | $173,386 | $266,888 | $411,473 |
Source: Ownwell
Property Tax Bills Across New Munster, Wisconsin
In New Munster, located in Kenosha County, WI, property tax bills are calculated based on the assessed value of a home, not its market value. The local tax rate is applied to this assessed value to determine the annual property tax bill. Several factors influence the assessed value, including the property's size, location, and condition. For homeowners in New Munster, the median home price is $173,386. Property tax bills can vary significantly, with the 25th percentile at $1,087, the 75th percentile at $4,035, and the 90th percentile reaching $5,872. These figures indicate that while some homeowners may enjoy relatively low tax bills, others could face substantially higher amounts. Comparatively, the national median property tax rate stands at 0.99%, and New Munster's rates show a wide range, reflecting the diverse property values within the area. This variability underscores the importance of understanding how assessed values and local tax rates impact individual tax obligations.
Average New Munster Tax Bill
$2,513
Average Kenosha County Tax Bill
$4,787
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across New Munster, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53152 | $394 | $1,087 | $2,513 | $4,035 | $5,872 |
Source: Ownwell