Fox Lake, Wisconsin Property Taxes
The median property tax rate in Fox Lake, WI is 0.13%, significantly lower than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Fox Lake, the typical annual property tax bill is $287, far below the national median of $2,690. Property taxes in Fox Lake are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fox Lake'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 Fox Lake 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
Fox Lake, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.13%
Estimate Property Tax Bill
$250
Ownwell’s FOX LAKE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in FOX LAKE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in FOX 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 Fox Lake, Wisconsin
Property taxes in Fox 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 Fox Lake is 1.33%, significantly higher than the U.S. national median of 0.99%. Local government entities within Fox Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fox 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 Fox Lake's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the highest median property tax rate in the region is 2.47%, while the lowest median tax rate is 0.83%. Understanding how these cities compare with Fox Lake provides valuable insights into the varying tax landscape across Dodge County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fox Lake Tax Rate
0.13%
Average Dodge County Tax Rate
0.14%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fox Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53933 | 0.12% | 0.13% | 0.13% | 0.18% | 0.19% |
Source: Ownwell
Property Tax Assessment Values Across Fox Lake, Wisconsin
In FOX 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 Dodge 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 FOX 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. The median home price in FOX LAKE is $192,300, with tax bills ranging from $189 at the 25th percentile to $562 at the 90th percentile. The zip code with the highest median tax bill is 53933, also recorded as the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fox Lake Assessed Value
$192,300
Average Dodge County Assessed Value
$188,400
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fox Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53933 | $35,780 | $114,525 | $192,300 | $305,875 | $422,940 |
Source: Ownwell
Property Tax Bills Across Fox Lake, Wisconsin
In Fox Lake, Dodge 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 the local assessor and reflects the market value of the property. This value is then multiplied by the property tax rate to calculate the annual tax bill. For example, with a median home price of $192,300, homeowners can expect their tax bill to vary significantly depending on the assessed value and specific tax rate applied. Factors considered in determining the tax bill include property characteristics, location, and any applicable exemptions or deductions. In Fox Lake, the tax bills range from the 25th percentile at $189 to the 75th percentile at $424, with the 90th percentile reaching up to $562. These variations can significantly impact homeowners, influencing their overall housing costs. Compared to the national median property tax rate of 0.99%, Fox Lake's tax rates and resulting bills provide a unique financial landscape for residents.
Average Fox Lake Tax Bill
$287
Average Dodge County Tax Bill
$288
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Fox Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53933 | $53 | $189 | $287 | $424 | $562 |
Source: Ownwell