Green Lake, Wisconsin Property Taxes
The median property tax rate in Green Lake, WI is 1.35%, which is higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Green Lake at $194,819, the typical annual property tax bill reaches $2,749, surpassing the national median of $2,690. Property taxes in Green Lake are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Green 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 Green 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
Green Lake, 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 Green Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Green Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Green 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 Green Lake, Wisconsin
Property taxes in Green Lake, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Green Lake is 1.35%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Green Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Green 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 Green Lake's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54941 zip code has the highest median property tax rate of 1.35%, while the 54941 zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with Green Lake provides valuable insights into the varying tax landscape across Green Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Green Lake Tax Rate
1.35%
Average Green Lake County Tax Rate
1.54%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Green Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54941 | 1.17% | 1.22% | 1.35% | 1.71% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Green Lake, Wisconsin
In Green 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 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 Green 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 Green Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 54941, with a median tax bill of $2,749.
Average Green Lake Assessed Value
$194,819
Average Green Lake County Assessed Value
$141,945
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Green Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54941 | $114,273 | $141,726 | $194,819 | $293,035 | $482,176 |
Source: Ownwell
Property Tax Bills Across Green Lake, Wisconsin
In Green Lake, 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 and reflects the fair market value of the property. To calculate the tax bill, the assessed value is multiplied by the tax rate set by local taxing authorities. This rate can vary depending on the needs of the community, including funding for schools, infrastructure, and public services. Homeowners in Green Lake can expect their property tax bills to vary widely. For instance, tax bills at the 25th percentile are around $1,959, while those at the 75th percentile can reach up to $4,357. At the 90th percentile, tax bills can be as high as $7,283. The highest median tax bill in the area is $2,749, which is significantly higher than the national median property tax rate of 0.99%. These property taxes can have a substantial impact on homeowners, influencing their overall cost of living and potentially affecting property values.
Average Green Lake Tax Bill
$2,749
Average Green Lake County Tax Bill
$2,317
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Green Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54941 | $1,520 | $1,959 | $2,749 | $4,357 | $7,283 |
Source: Ownwell