Milwaukee, Ozaukee County, Wisconsin Property Taxes
The median property tax rate in Milwaukee, WI is 2.30%, significantly higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Milwaukee, the typical annual property tax bill reaches $19,222, far exceeding the national median of $2,690. Property taxes in 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 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 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
Milwaukee, Ozaukee County, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.3%
Estimate Property Tax Bill
$18,510
$17,177
Ownwell’s Milwaukee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Milwaukee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in 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 Milwaukee, Ozaukee County, Wisconsin
Property taxes in Milwaukee, Wisconsin, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Milwaukee is 2.30%, significantly higher than the U.S. national median of 0.99%. Local government entities within Milwaukee set these rates annually, and they can vary across different neighborhoods. Each year, 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 Milwaukee's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53217 zip code has the highest median property tax rate of 2.30%, while the same zip code also has the lowest median tax rate of 2.30%. Understanding how these cities compare with Milwaukee provides valuable insights into the varying tax landscape across Ozaukee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Milwaukee Tax Rate
2.30%
Average Ozaukee County Tax Rate
1.24%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Milwaukee, Ozaukee County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53217 | 2.29% | 2.29% | 2.30% | 2.41% | 2.46% |
Source: Ownwell
Property Tax Assessment Values Across Milwaukee, Ozaukee County, Wisconsin
In 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 Ozaukee 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 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. 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 Milwaukee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $19,222 in zip code 53217.
Property Tax Assessment Values Across Milwaukee, Ozaukee County, Wisconsin
Source: Ownwell
$207,100
$505,950
$804,800
Average Milwaukee Assessed Value
$804,800
Average Ozaukee County Assessed Value
$339,400
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Milwaukee, Ozaukee County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53217 | $587,820 | $651,350 | $804,800 | $977,100 | $1,200,620 |
Source: Ownwell
Property Tax Bills Across Milwaukee, Ozaukee County, Wisconsin
In Milwaukee, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the tax rate set by the local government to calculate the annual tax bill. Several factors influence the assessed value, including the home's market value, location, and any improvements or additions made to the property. For homeowners in Milwaukee, property taxes can represent a significant annual expense. For example, with a median home price of $804,800, property tax bills can vary widely. The 25th percentile tax bill stands at $15,712, while the 75th percentile reaches $22,413. At the 90th percentile, homeowners might see tax bills as high as $27,488. These figures highlight the substantial impact property taxes can have on household budgets, especially when compared to the national median property tax rate of 0.99%. Notably, the highest and lowest median tax bills in Milwaukee are both $19,222, found in the 53217 zip code, underscoring the variability within the city itself.
Average Milwaukee Tax Bill
$19,222
Average Ozaukee County Tax Bill
$4,109
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Milwaukee, Ozaukee County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53217 | $13,771 | $15,712 | $19,222 | $22,413 | $27,488 |
Source: Ownwell