South Milwaukee, Wisconsin Property Taxes
The median property tax rate in South Milwaukee, WI is 1.82%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in South Milwaukee at $217,400, the typical annual property tax bill reaches $3,983, exceeding the national median of $2,690. Property taxes in South Milwaukee 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 South Milwaukee'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 South Milwaukee 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
South Milwaukee, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.82%
Estimate Property Tax Bill
$3,957
$3,672
Ownwell’s South Milwaukee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Milwaukee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Milwaukee 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 South Milwaukee, Wisconsin
Property taxes in South Milwaukee, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Milwaukee is 1.82%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within South Milwaukee set these rates annually, and they can vary across different neighborhoods. Each year, South Milwaukee 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 South Milwaukee's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 53172 has the highest median property tax rate of 1.82%, while the same zip code also has the lowest median tax rate of 1.82%. Understanding how these cities compare with South Milwaukee provides valuable insights into the varying tax landscape across Milwaukee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average South Milwaukee Tax Rate
1.82%
Average Milwaukee County Tax Rate
2.38%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Milwaukee, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53172 | 1.77% | 1.79% | 1.82% | 1.86% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across South Milwaukee, Wisconsin
In South Milwaukee, 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 Milwaukee 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 South Milwaukee, 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 South Milwaukee is $217,400, with the 25th percentile tax bill at $3,384 and the 75th percentile tax bill at $4,747. The highest median tax bill is $3,983 in zip code 53172, which also has the lowest median 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across South Milwaukee, Wisconsin
Source: Ownwell
$8,900
$343,050
$677,200
Average South Milwaukee Assessed Value
$217,400
Average Milwaukee County Assessed Value
$184,600
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across South Milwaukee, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53172 | $161,900 | $186,800 | $217,400 | $258,200 | $302,500 |
Source: Ownwell
Property Tax Bills Across South Milwaukee, Wisconsin
In South Milwaukee, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in South Milwaukee is $217,400, and homeowners can expect to pay varying amounts depending on their property's value and specific circumstances. For example, the 25th percentile tax bill is approximately $3,384, while the 75th percentile tax bill is around $4,747. At the higher end, the 90th percentile tax bill reaches up to $5,600. These figures are significantly higher than the national median property tax rate of 0.99%, reflecting the higher tax rates in Milwaukee County. Factors such as property improvements, neighborhood changes, and local budget needs can influence the assessed value and, subsequently, the tax bill. Homeowners in South Milwaukee must budget for these expenses, which play a crucial role in maintaining local services and infrastructure.
Average South Milwaukee Tax Bill
$3,983
Average Milwaukee County Tax Bill
$3,903
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across South Milwaukee, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53172 | $2,904 | $3,384 | $3,983 | $4,747 | $5,600 |
Source: Ownwell