Wind Lake, Wisconsin Property Taxes
The median property tax rate in Wind Lake, WI is 0.96%, slightly below the national median of 0.99% but significantly lower than the Wisconsin state median of 1.58%. With the median home value in Wind Lake, the typical annual property tax bill reaches $1,870, which is less than the national median of $2,690. Property taxes in Wind Lake are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Wind 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 Wind 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
Wind Lake, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$1,549
$1,437
Ownwell’s Wind Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wind Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wind 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 Wind Lake, Wisconsin
Property taxes in Wind 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 Wind Lake is 0.96%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Wind Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wind 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 Wind Lake's effective property tax rate to other areas in Racine County and the national median. For comparison, the 53185 zip code, which includes Wind Lake, has a median property tax rate of 0.96%. Understanding how Wind Lake compares with other areas 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 Wind Lake Tax Rate
0.96%
Average Racine County Tax Rate
1.64%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wind Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53185 | 0.60% | 0.72% | 0.96% | 1.23% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Wind Lake, Wisconsin
In Wind 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 Racine County Assessor 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 Wind 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 Wind Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,870, found in the zip code 53185.
Average Wind Lake Assessed Value
$161,344
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 Wind Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53185 | $66,310 | $103,811 | $161,344 | $262,738 | $501,935 |
Source: Ownwell
Property Tax Bills Across Wind Lake, Wisconsin
In Wind Lake, located in Racine County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. Homeowners in this area experience a median property tax rate of 1.16%, which is slightly above the national median of 0.99%. The assessed value of a property is determined by the local assessor's office and reflects the market value of the home. Several factors influence the final tax bill, including property size, location, and improvements made to the home. For instance, in Wind Lake, the median home price stands at $161,344. Homeowners in the 25th percentile pay around $854 annually, while those in the 75th percentile face a tax bill of approximately $2,196. Those in the 90th percentile can see tax bills as high as $3,727. These property taxes fund essential services like schools, public safety, and infrastructure, directly impacting the community's quality of life. Understanding these factors can help homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Wind Lake Tax Bill
$1,870
Average Racine County Tax Bill
$3,592
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Wind Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53185 | $520 | $854 | $1,870 | $2,196 | $3,727 |
Source: Ownwell