Fontana, Wisconsin Property Taxes
The median property tax rate in Fontana, WI is 1.02%, slightly higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Fontana at $426,961, the typical annual property tax bill reaches $4,661, significantly exceeding the national median of $2,690. Property taxes in Fontana 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 Fontana'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 Fontana 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
Fontana, 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 Fontana Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fontana with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fontana 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 Fontana, Wisconsin
Property taxes in Fontana, Wisconsin, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Fontana is 1.02%, higher than the U.S. national median of 0.99%. Local government entities within Fontana set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fontana 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 Fontana's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53125 zip code has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Fontana provides valuable insights into the varying tax landscape across Walworth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fontana Tax Rate
1.02%
Average Walworth County Tax Rate
1.30%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fontana, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53125 | 0.98% | 1.00% | 1.02% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Fontana, Wisconsin
In Fontana, 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 Walworth 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 Fontana, 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 Fontana helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Fontana are both $4,661, found in the 53125 zip code.
Average Fontana Assessed Value
$426,961
Average Walworth County Assessed Value
$260,578
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fontana, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53125 | $95,982 | $220,376 | $426,961 | $687,304 | $1,004,135 |
Source: Ownwell
Property Tax Bills Across Fontana, Wisconsin
In Fontana, located in Walworth County, WI, property tax bills are determined by the assessed value of a home and the local tax rate. The assessed value is an estimate of the property's market value, which is periodically updated to reflect changes in the real estate market. Local governments then apply the tax rate to this assessed value to calculate the annual property tax bill. For homeowners in Fontana, the median home price is $426,961. The property tax rate in this area results in a median tax bill of $4,661, which is significantly higher than the national median property tax rate of 0.99%. This figure can vary widely, with the 25th percentile tax bill at $2,975 and the 75th percentile reaching $7,211. At the 90th percentile, some homeowners may see tax bills as high as $10,744. These variations are influenced by factors such as property size, location, and any applicable exemptions or deductions. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Fontana Tax Bill
$4,661
Average Walworth County Tax Bill
$3,583
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Fontana, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53125 | $1,171 | $2,975 | $4,661 | $7,211 | $10,744 |
Source: Ownwell