Powers Lake, Wisconsin Property Taxes
The median property tax rate in Powers Lake, WI is 1.44%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Powers Lake, the typical annual property tax bill reaches $3,407, exceeding the national median of $2,690. Property taxes in Powers Lake 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 Powers 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 Powers 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
Powers Lake, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$3,494
Ownwell’s Powers Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Powers Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Powers 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 Powers Lake, Wisconsin
Property taxes in Powers 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 Powers Lake is 1.44%, significantly higher than both the Wisconsin state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Powers Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Powers 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 Powers Lake's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53159 zip code has the highest median property tax rate of 1.44%, while the same zip code also has the lowest median tax rate of 1.44%. Understanding how these cities compare with Powers Lake provides valuable insights into the varying tax landscape across Kenosha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Powers Lake Tax Rate
1.44%
Average Kenosha County Tax Rate
2.06%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Powers Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53159 | 1.33% | 1.36% | 1.44% | 1.45% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Powers Lake, Wisconsin
In Powers 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 Kenosha 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 Powers 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 Powers Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Powers Lake is $3407.00, both found in zip code 53159.
Average Powers Lake Assessed Value
$242,652
Average Kenosha County Assessed Value
$201,507
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Powers Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53159 | $165,072 | $200,615 | $242,652 | $284,062 | $343,473 |
Source: Ownwell
Property Tax Bills Across Powers Lake, Wisconsin
In Powers Lake, located in Kenosha 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 is meant to reflect the market value of the property. Homeowners in Powers Lake typically see a range of property tax bills, with the 25th percentile at $2,924 and the 75th percentile at $3,828. The 90th percentile of tax bills reaches up to $4,886, indicating that higher-valued properties incur significantly higher taxes. The median home price in the area is $242,652, and with Kenosha County having a median tax bill of $3,407, the property tax rate is notably higher than the national median property tax rate of 0.99%. This higher rate affects homeowners by increasing their annual expenses, making it crucial for them to understand how their property is assessed and to explore potential exemptions or appeals to manage their tax liabilities effectively.
Average Powers Lake Tax Bill
$3,407
Average Kenosha County Tax Bill
$4,787
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Powers Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53159 | $2,436 | $2,924 | $3,407 | $3,828 | $4,886 |
Source: Ownwell