Whitefish Bay, Wisconsin Property Taxes
The median property tax rate in Whitefish Bay, WI is 1.61%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Whitefish Bay, the typical annual property tax bill reaches $2,166, slightly below the national median of $2,690. Property taxes in Whitefish Bay 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 Whitefish Bay'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 Whitefish Bay 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
Whitefish Bay, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$2,172
Ownwell’s Whitefish Bay Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Whitefish Bay with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Whitefish Bay to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more granular data, you can scroll down to find localized information at the neighborhood level. Your property’s assessed value is the value assigned by Milwaukee County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Whitefish Bay, Wisconsin
Property taxes in Whitefish Bay, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Whitefish Bay is 1.61%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Whitefish Bay set these rates annually, and they can vary significantly across different neighborhoods. Each year, Whitefish Bay 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 Whitefish Bay's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53217 zip code has the highest median property tax rate of 1.61%, while the same 53217 zip code also has the lowest median tax rate of 1.61%. Understanding how these areas compare with Whitefish Bay provides valuable insights into the varying tax landscape across Milwaukee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Whitefish Bay Tax Rate
1.61%
Average Milwaukee County Tax Rate
2.38%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Whitefish Bay, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53217 | 1.50% | 1.61% | 1.61% | 1.74% | 1.77% |
Source: Ownwell
Property Tax Assessment Values Across Whitefish Bay, Wisconsin
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Whitefish Bay. 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 Milwaukee 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. Assessment notices in Whitefish Bay 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 Whitefish Bay helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,166, found in zip code 53217.
Average Whitefish Bay Assessed Value
$134,900
Average Milwaukee County Assessed Value
$184,600
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Whitefish Bay, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53217 | $84,200 | $129,200 | $134,900 | $140,200 | $145,400 |
Source: Ownwell
Property Tax Bills Across Whitefish Bay, Wisconsin
In Whitefish Bay, property tax bills are calculated based on the assessed value of a home combined with the local tax rate. The assessed value is determined by the local assessor’s office, which evaluates the property to estimate its market value. This value is then multiplied by the tax rate set by local taxing authorities, including the county, municipality, and school district. In Milwaukee County, where Whitefish Bay is located, the median home price is $134,900. Homeowners in this area can expect a property tax bill ranging from $2,064 at the 25th percentile to $2,477 at the 90th percentile. The highest median tax bill in the area is $2,166, which is significantly higher than the national median property tax rate of 0.99%. These taxes fund essential public services such as education, infrastructure, and safety, directly impacting the quality of life for residents. Understanding how these factors interplay helps homeowners anticipate their annual expenses and plan accordingly.
Average Whitefish Bay Tax Bill
$2,166
Average Milwaukee County Tax Bill
$3,903
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Whitefish Bay, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53217 | $1,325 | $2,064 | $2,166 | $2,360 | $2,477 |
Source: Ownwell