Mukwonago, Walworth County, Wisconsin Property Taxes
The median property tax rate in Mukwonago, WI is 1.19%, which is higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Mukwonago at $467,352, the typical annual property tax bill reaches $6,727, significantly exceeding the national median of $2,690. Property taxes in Mukwonago 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 Mukwonago'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 Mukwonago 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
Mukwonago, Walworth County, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$5,561
$5,161
Ownwell’s Mukwonago Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mukwonago with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mukwonago 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 Mukwonago, Walworth County, Wisconsin
Property taxes in Mukwonago, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mukwonago is 1.19%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Mukwonago set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mukwonago 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 Mukwonago's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53149 zip code has the highest median property tax rate of 1.19%, while the 53149 zip code also has the lowest median tax rate of 1.19%. Understanding how these cities compare with Mukwonago 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 Mukwonago Tax Rate
1.19%
Average Walworth County Tax Rate
1.30%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mukwonago, Walworth County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53149 | 1.12% | 1.14% | 1.19% | 1.22% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Mukwonago, Walworth County, Wisconsin
In Mukwonago, 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 Mukwonago, 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 Mukwonago helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Mukwonago is $6,727 in the 53149 zip code.
Property Tax Assessment Values Across Mukwonago, Walworth County, Wisconsin
Source: Ownwell
$163,882
$315,617
$467,352
Average Mukwonago Assessed Value
$467,352
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 Mukwonago, Walworth County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53149 | $199,537 | $326,510 | $467,352 | $886,024 | $1,465,553 |
Source: Ownwell
Property Tax Bills Across Mukwonago, Walworth County, Wisconsin
In Mukwonago, property tax bills are calculated based on the assessed value of your home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine your annual property tax bill. For example, the median home price in Mukwonago is $467,352. Homeowners in this area see a wide range of tax bills, with the 25th percentile at $3,908 and the 75th percentile reaching $10,635. The highest median tax bill in the area is $6,727, which is notably higher than the national median property tax rate of 0.99%. Several factors influence your tax bill, including the market value of your home, local tax rates, and any applicable exemptions. These tax bills significantly impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Understanding how these factors interplay can help homeowners anticipate their financial obligations and plan accordingly.
Average Mukwonago Tax Bill
$6,727
Average Walworth County Tax Bill
$3,583
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Mukwonago, Walworth County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53149 | $2,249 | $3,908 | $6,727 | $10,635 | $17,422 |
Source: Ownwell