East Troy, Wisconsin Property Taxes
The median property tax rate in East Troy, WI is 1.22%, which is higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in East Troy at $291,364, the typical annual property tax bill reaches $3,904, significantly exceeding the national median of $2,690. Property taxes in East Troy are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding East Troy'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 East Troy 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
East Troy, Wisconsin Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$3,160
Ownwell’s East Troy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Troy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Troy 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 East Troy, Wisconsin
Property taxes in East Troy, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Troy is 1.22%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within East Troy set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Troy 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 East Troy's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53120 zip code has the highest median property tax rate of 1.22%, while the same zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with East Troy provides valuable insights into the varying tax landscape across Walworth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average East Troy Tax Rate
1.22%
Average Walworth County Tax Rate
1.30%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Troy, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53120 | 1.13% | 1.16% | 1.22% | 1.47% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across East Troy, Wisconsin
In East Troy, 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 Walworth 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 East Troy, 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. For instance, the highest median tax bill in the area is $3,904 in zip code 53120, while the lowest median tax bill is also $3,904 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average East Troy Assessed Value
$291,364
Average Walworth County Assessed Value
$260,578
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across East Troy, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53120 | $163,415 | $223,330 | $291,364 | $409,218 | $619,710 |
Source: Ownwell
Property Tax Bills Across East Troy, Wisconsin
In East Troy, located in Walworth County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in East Troy is $291,364, and the property tax rate in Wisconsin generally hovers around 1.68%, significantly higher than the national median of 0.99%. This results in varying tax bills, with the 25th percentile at $2,954, the 75th percentile at $5,177, and the 90th percentile reaching up to $7,464. Factors such as property improvements, market conditions, and local government budgets can influence the assessed value and, consequently, the tax bill. For homeowners, this means that property taxes can constitute a substantial portion of annual expenses. For instance, the highest median tax bill recorded in the area is $3,904, which can impact budgeting and financial planning for residents. Understanding these factors is crucial for homeowners to anticipate their property tax obligations accurately.
Average East Troy Tax Bill
$3,904
Average Walworth County Tax Bill
$3,583
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across East Troy, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53120 | $2,107 | $2,954 | $3,904 | $5,177 | $7,464 |
Source: Ownwell