Okauchee, Wisconsin Property Taxes
The median property tax rate in Okauchee, WI is 1.25%, which is higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value in Okauchee of $467,500, the typical annual property tax bill reaches $5,841, significantly exceeding the national median of $2,690. Property taxes in Okauchee are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Okauchee'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 Okauchee or another part of Waukesha County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Okauchee, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$5,844
Ownwell’s Okauchee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Okauchee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Okauchee 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 Okauchee, Wisconsin
Property taxes in Okauchee, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Okauchee is 1.25%, higher than both the Wisconsin state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Okauchee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Okauchee 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 Okauchee's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53069 zip code has the highest median property tax rate of 1.25%, while the lowest median tax rate is also 1.25%. Understanding how these cities compare with Okauchee 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 Okauchee Tax Rate
1.25%
Average Waukesha County Tax Rate
1.34%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Okauchee, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53069 | 1.24% | 1.24% | 1.25% | 1.25% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Okauchee, Wisconsin
In Okauchee, 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 Okauchee, 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 Okauchee is $467,500, with tax bills ranging from $3,071 at the 25th percentile to $13,640 at the 90th percentile. The highest and lowest median tax bills are both $5,841, found in the 53069 zip code. 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 Okauchee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Okauchee Assessed Value
$467,500
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 Okauchee, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53069 | $193,310 | $245,800 | $467,500 | $826,200 | $1,091,770 |
Source: Ownwell
Property Tax Bills Across Okauchee, Wisconsin
In Okauchee, located in Waukesha County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local assessors who evaluate various factors such as the size, location, and condition of the property. Once the assessed value is established, the tax rate is applied to calculate the annual property tax bill. Homeowners in Okauchee can expect property tax bills that vary significantly depending on their property's value. For instance, the tax bill for homes at the 25th percentile is around $3,071, while those at the 75th percentile can reach up to $10,322. At the 90th percentile, the tax bill can soar to $13,640. Compared to the national median property tax rate of 0.99%, homeowners in Okauchee may find their tax bills to be relatively high, especially in certain areas. This can have a substantial impact on household budgets, making it essential for homeowners to understand how their tax bills are calculated and what factors influence them.
Average Okauchee Tax Bill
$5,841
Average Waukesha County Tax Bill
$4,538
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Okauchee, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53069 | $2,405 | $3,071 | $5,841 | $10,322 | $13,640 |
Source: Ownwell