Merton, Wisconsin Property Taxes
The median property tax rate in Merton, WI is 1.00%, slightly above the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Merton at $244,450, the typical annual property tax bill is around $2,407, which is below the national median of $2,690. Property taxes in Merton are calculated based on the tax assessed value, often less than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Merton'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 Merton 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
Merton, 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 Merton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Merton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Merton 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 Merton, Wisconsin
Property taxes in Merton, Wisconsin, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Merton is 1.00%, slightly above the U.S. national median of 0.99%. Local government entities within Merton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Merton 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 Merton's effective property tax rate to other areas in Waukesha County and the national median. For comparison, the 53056 zip code has the highest median property tax rate of 1.00%, while the 53066 zip code has the lowest median tax rate of 0.89%. Understanding how these areas compare with Merton 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 Merton Tax Rate
1.00%
Average Waukesha County Tax Rate
1.34%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Merton, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53029 | 0.85% | 0.88% | 0.93% | 0.95% | 0.95% |
| 53056 | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% |
| 53058 | 0.90% | 0.90% | 0.90% | 0.90% | 0.90% |
| 53066 | 0.89% | 0.89% | 0.89% | 0.89% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Merton, Wisconsin
In Merton, 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 Waukesha 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 Merton, 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. The median home price in Merton is $244,450, with tax bills ranging from $1,874 at the 25th percentile to $3,750 at the 90th percentile. The highest median tax bill is $2,565 in the 53056 zip code, while the lowest is $335 in the 53058 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Average Merton Assessed Value
$244,450
Average Waukesha County Assessed Value
$348,408
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Merton, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53029 | $19,340 | $32,675 | $51,250 | $106,850 | $160,190 |
| 53056 | $193,880 | $222,650 | $257,350 | $319,650 | $396,600 |
| 53058 | $35,800 | $36,400 | $37,400 | $162,900 | $238,200 |
| 53066 | $97,700 | $97,700 | $97,700 | $97,700 | $97,700 |
Source: Ownwell
Property Tax Bills Across Merton, Wisconsin
Property tax bills in Merton, located in Waukesha County, WI, are calculated based on the assessed value of your property and the local tax rate. The assessed value is an estimate of your property's market value determined by the local assessor’s office. For instance, with a median home price of $244,450, the tax bill can vary significantly depending on the precise assessed value and the specific tax rate applied. In Merton, property tax bills can range widely, reflecting the diversity in property values and local tax rates. Homeowners in the 25th percentile can expect to pay around $1,874 annually, while those in the 75th percentile may see bills closer to $3,078. The top 10% of homeowners might face tax bills as high as $3,750. These figures indicate that property taxes can be a substantial part of a homeowner's annual expenses, potentially impacting budgeting and financial planning. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners in Merton to understand their local rates and assessed values to anticipate their tax obligations accurately.
Average Merton Tax Bill
$2,407
Average Waukesha County Tax Bill
$4,538
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Merton, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53029 | $166 | $295 | $464 | $1,014 | $1,521 |
| 53056 | $1,932 | $2,219 | $2,565 | $3,187 | $3,954 |
| 53058 | $321 | $326 | $335 | $1,468 | $2,148 |
| 53066 | $869 | $869 | $869 | $869 | $869 |
Source: Ownwell