Wauwatosa, Wisconsin Property Taxes
The median property tax rate in Wauwatosa, WI is 1.75%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Wauwatosa at $256,500, the typical annual property tax bill reaches $4,466, exceeding the national median of $2,690. Property taxes in Wauwatosa 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 Wauwatosa'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 Wauwatosa 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
Wauwatosa, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.75%
Estimate Property Tax Bill
$4,489
Ownwell’s Wauwatosa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wauwatosa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wauwatosa 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 Milwaukee County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Wauwatosa, Wisconsin
Property taxes in Wauwatosa, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wauwatosa is 1.75%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Wauwatosa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wauwatosa 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 Wauwatosa's effective property tax rate to other areas in Milwaukee County and the national median. For comparison, the 53222 zip code has the highest median property tax rate of 1.84%, while the 53225 zip code has the lowest median tax rate of 1.73%. Understanding how these cities compare with Wauwatosa 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 Wauwatosa Tax Rate
1.75%
Average Milwaukee County Tax Rate
2.38%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wauwatosa, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53210 | 1.75% | 1.75% | 1.76% | 1.82% | 1.82% |
| 53213 | 1.78% | 1.79% | 1.81% | 1.82% | 1.83% |
| 53222 | 1.84% | 1.84% | 1.84% | 1.84% | 1.84% |
| 53225 | 1.70% | 1.72% | 1.73% | 1.74% | 1.80% |
| 53226 | 1.84% | 1.84% | 1.84% | 1.84% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Wauwatosa, Wisconsin
In Wauwatosa, 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 Wauwatosa, 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 Wauwatosa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the city is $5,158 in zip code 53210, while the lowest is $1,752 in zip code 53222.
Average Wauwatosa Assessed Value
$256,500
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 Wauwatosa, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53210 | $251,500 | $278,400 | $286,800 | $303,400 | $320,060 |
| 53213 | $95,460 | $104,400 | $119,300 | $134,200 | $143,140 |
| 53222 | $73,180 | $77,950 | $95,300 | $118,350 | $133,380 |
| 53225 | $175,100 | $189,000 | $216,800 | $255,600 | $257,500 |
| 53226 | $120,900 | $120,900 | $120,900 | $120,900 | $120,900 |
Source: Ownwell
Property Tax Bills Across Wauwatosa, Wisconsin
In Wauwatosa, located in Milwaukee County, WI, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property's market value. Tax rates are then applied to this assessed value to calculate the tax bill. Various factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. Homeowners in Wauwatosa typically see a range of tax bills. For example, the 25th percentile tax bill is around $3,273, while the 75th percentile tax bill can reach up to $5,148. At the higher end, the 90th percentile tax bill is approximately $5,383. The highest median tax bill in the area is $5,158, found in the 53210 zip code, whereas the lowest median tax bill is $1,752 in the 53222 zip code. These property taxes significantly impact homeowners, affecting their annual financial planning and the overall affordability of owning a home in the area. With a median home price of $256,500, understanding these tax implications is crucial for current and prospective homeowners.
Average Wauwatosa Tax Bill
$4,466
Average Milwaukee County Tax Bill
$3,903
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Wauwatosa, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53210 | $4,374 | $4,882 | $5,158 | $5,327 | $5,762 |
| 53213 | $1,702 | $1,875 | $2,164 | $2,453 | $2,626 |
| 53222 | $1,346 | $1,433 | $1,752 | $2,176 | $2,452 |
| 53225 | $2,969 | $3,224 | $3,734 | $4,446 | $4,484 |
| 53226 | $2,223 | $2,223 | $2,223 | $2,223 | $2,223 |
Source: Ownwell