Muskego, Wisconsin Property Taxes
The median property tax rate in Muskego, WI is 1.11%, which is higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value of $347,670 in Muskego, the typical annual property tax bill reaches $3,913, significantly exceeding the national median of $2,690. Property taxes in Muskego are calculated based on the assessed value, which is often below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Muskego's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Muskego 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
Muskego, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$3,859
Ownwell’s Muskego Property Tax Bill Calculator assists homeowners, real estate investors, or prospective buyers in estimating their annual property taxes in Muskego with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Muskego to provide an accurate property tax bill estimate. This valuable tool helps you gauge potential tax liabilities. For those interested in neighborhood-level trends, further localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Muskego, Wisconsin
Property taxes in Muskego, Wisconsin, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Muskego is 1.11%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Muskego set these rates annually, and they can vary significantly across different neighborhoods. Each year, Muskego 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 Muskego's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53150 zip code has the highest median property tax rate of 1.11%, while the same zip code also has the lowest median tax rate of 1.11%. Understanding how these cities compare with Muskego provides valuable insights into the varying tax landscape across Racine County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Muskego Tax Rate
1.11%
Average Racine County Tax Rate
1.64%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Muskego, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53150 | 1.03% | 1.07% | 1.11% | 1.46% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Muskego, Wisconsin
In Muskego, 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 Racine County Assessor's Office 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 Muskego, 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 Muskego helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Muskego, the highest median tax bill is $3913 in the 53150 zip code, while the lowest median tax bill is also $3913 in the same zip code.
Average Muskego Assessed Value
$347,670
Average Racine County Assessed Value
$210,852
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Muskego, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53150 | $225,986 | $272,380 | $347,670 | $412,484 | $493,646 |
Source: Ownwell
Property Tax Bills Across Muskego, Wisconsin
In Muskego, 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 local tax rate to determine the annual property tax bill. The median home price in Muskego is $347,670, which provides a baseline for understanding typical tax bills in the area. Several factors influence the tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Muskego can expect to see tax bills ranging from $3,008 at the 25th percentile to $6,381 at the 90th percentile. The median tax bill in Muskego is notably higher than the national median property tax rate of 0.99%, reflecting the area's higher property values and tax rates. For homeowners, these taxes fund essential local services such as schools, public safety, and infrastructure. Understanding how these bills are calculated can help homeowners anticipate their financial obligations and manage their budgets effectively.
Average Muskego Tax Bill
$3,913
Average Racine County Tax Bill
$3,592
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Muskego, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53150 | $2,388 | $3,008 | $3,913 | $4,935 | $6,381 |
Source: Ownwell