Wilmot, Wisconsin Property Taxes
The median property tax rate in Wilmot, WI is 1.83%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Wilmot at $194,504, the typical annual property tax bill reaches $3,705, exceeding the national median of $2,690. Property taxes in Wilmot 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 Wilmot'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 Wilmot 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
Wilmot, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.83%
Estimate Property Tax Bill
$3,559
Ownwell’s Wilmot Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Wilmot with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wilmot 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 Wilmot, Wisconsin
Property taxes in Wilmot, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wilmot is 1.83%, significantly higher than the U.S. national median of 0.99%. Local government entities within Wilmot set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wilmot 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 Wilmot's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the zip code 53192 has the highest median property tax rate of 1.83%, while the same zip code also represents the lowest median tax rate of 1.83%. Understanding how these areas compare with Wilmot 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 Wilmot Tax Rate
1.83%
Average Kenosha County Tax Rate
2.06%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wilmot, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53192 | 1.50% | 1.81% | 1.83% | 2.01% | 2.09% |
Source: Ownwell
Property Tax Assessment Values Across Wilmot, Wisconsin
In Wilmot, 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 Wilmot, 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 Wilmot is $194,504, with tax bills ranging from $3,150 at the 25th percentile to $5,962 at the 90th percentile. The highest and lowest median tax bills are both $3,705, found in zip code 53192. 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 Wilmot Assessed Value
$194,504
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 Wilmot, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53192 | $123,937 | $156,613 | $194,504 | $311,292 | $351,059 |
Source: Ownwell
Property Tax Bills Across Wilmot, Wisconsin
In Wilmot, located in Kenosha County, WI, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local government assessors who evaluate the property to estimate its market value. This value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, the median home price in Wilmot is $194,504, which provides a benchmark for understanding tax bills in the area. Several factors influence the tax bill, including the property's location, size, and condition. Homeowners in Wilmot can expect tax bills to vary widely; the 25th percentile tax bill is around $3,150, while those in the 75th percentile see bills closer to $5,042. At the 90th percentile, tax bills can reach approximately $5,962. These figures highlight the significant impact property taxes can have on homeowners' finances, emphasizing the importance of accurate property assessments and understanding local tax rates.
Average Wilmot Tax Bill
$3,705
Average Kenosha County Tax Bill
$4,787
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Wilmot, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53192 | $2,505 | $3,150 | $3,705 | $5,042 | $5,962 |
Source: Ownwell