Sharon, Walworth County, Wisconsin Property Taxes
The median property tax rate in Sharon, WI is 2.05%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Sharon, the typical annual property tax bill reaches $3,262, exceeding the national median of $2,690. Property taxes in Sharon 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 Sharon'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 Sharon 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
Sharon, Walworth County, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.05%
Estimate Property Tax Bill
$3,360
$3,118
Ownwell’s Sharon Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Sharon with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Sharon to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, making financial planning easier. For those interested in more detailed insights, neighborhood-level trends are available for a deeper dive. Your property’s assessed value is determined by the county for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Sharon, Walworth County, Wisconsin
Property taxes in Sharon, Wisconsin, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Sharon is 1.85%, higher than both the Wisconsin state median of 1.68% and the U.S. national median of 0.99%. Local government entities within Sharon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sharon 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 Sharon's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53585 zip code has the highest median property tax rate of 2.05%, while the same zip code also has the lowest median tax rate of 2.05%. Understanding how these cities compare with Sharon 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 Sharon Tax Rate
2.05%
Average Walworth County Tax Rate
1.30%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sharon, Walworth County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53585 | 1.43% | 1.77% | 2.05% | 2.13% | 2.25% |
Source: Ownwell
Property Tax Assessment Values Across Sharon, Walworth County, Wisconsin
In Sharon, 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 Sharon, 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 Sharon 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 $3,262, found in the 53585 zip code.
Property Tax Assessment Values Across Sharon, Walworth County, Wisconsin
Source: Ownwell
$163,882
$315,617
$467,352
Average Sharon Assessed Value
$163,882
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 Sharon, Walworth County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53585 | $103,135 | $131,965 | $163,882 | $206,478 | $266,316 |
Source: Ownwell
Property Tax Bills Across Sharon, Walworth County, Wisconsin
In Sharon, located in Walworth County, WI, property tax bills are calculated based on the assessed value of a homeowner's property and the local tax rate. The median home price in Sharon is $163,882, and the property tax rate in Wisconsin is generally higher than the national median of 0.99%. For homeowners in Sharon, the tax bill can vary significantly. For instance, those in the 25th percentile may pay around $2,583, while those in the 75th percentile might see bills as high as $4,069. At the 90th percentile, tax bills can reach up to $5,004. Several factors influence these tax bills, including the property's assessed value, local government budgets, and public service funding requirements. Higher assessed values typically result in higher tax bills, impacting homeowners' financial planning and overall cost of living. In Walworth County, the highest and lowest median tax bills are both recorded at $3,262 in the 53585 zip code, illustrating a relatively consistent tax burden within the area. Understanding these factors helps homeowners anticipate their annual property tax obligations.
Average Sharon Tax Bill
$3,262
Average Walworth County Tax Bill
$3,583
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Sharon, Walworth County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53585 | $2,019 | $2,583 | $3,262 | $4,069 | $5,004 |
Source: Ownwell