North Lake, Wisconsin Property Taxes
The median property tax rate in North Lake, WI is 1.44%, which is higher than the national median of 0.99% but slightly lower than the Wisconsin state median of 1.58%. With a median home value of $29,800, the typical annual property tax bill in North Lake is $428, significantly below the national median of $2,690. Property taxes in North Lake are based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding North Lake's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of North Lake or another part of the city, comprehending the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
North Lake, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$429
Ownwell’s North Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Lake 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 North Lake, Wisconsin
Property taxes in North Lake, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Lake is 1.44%, which is significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within North Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Lake 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 North Lake's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 53064 has the highest median property tax rate of 1.44%, while the same zip code also has the lowest median tax rate of 1.44%. Understanding how these cities compare with North Lake 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 North Lake Tax Rate
1.44%
Average Outagamie County Tax Rate
1.71%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53064 | 1.44% | 1.44% | 1.44% | 1.44% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across North Lake, Wisconsin
In North Lake, 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 local county assessor 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 North Lake, 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 North Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in North Lake is $29,800, with the highest and lowest median tax bills both being $428 in the zip code 53064. This is significantly lower than the national median property tax rate of 0.99%, highlighting the importance of understanding local tax nuances.
Average North Lake Assessed Value
$29,800
Average Outagamie County Assessed Value
$190,900
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across North Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53064 | $29,800 | $29,800 | $29,800 | $29,800 | $29,800 |
Source: Ownwell
Property Tax Bills Across North Lake, Wisconsin
In North Lake, Outagamie County, WI, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the local assessor's office and is meant to reflect the market value of the property. In this region, the median home price is $29,800, which is significantly lower than the national average. The local tax rate is applied to this assessed value to determine the annual tax bill. Homeowners in North Lake can expect a median property tax bill of $428, regardless of whether they fall into the 25th, 75th, or 90th percentile. This uniformity in tax bills suggests a relatively stable tax environment, which can be beneficial for budgeting and financial planning. Compared to the national median property tax rate of 0.99%, North Lake offers a more affordable property tax scenario. This lower tax burden can make homeownership more accessible and financially manageable for residents, contributing positively to the local community's overall economic health.
Average North Lake Tax Bill
$428
Average Outagamie County Tax Bill
$3,156
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across North Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53064 | $428 | $428 | $428 | $428 | $428 |
Source: Ownwell